The outcome of the Spanish vote does not condition the other European lists. After a rough start Business Square scores a rise of 0,5%, behind Paris (+0,7%). The best bag is Frankfurt (+ 1,1%). London + 0,9%.
The uncertainty that emerged from the polls after Podemos's advance translated into a 3% decrease in Madrid, partially reduced in the middle of the session: the Ibex lost 1,7%. Major Spanish stocks such as Banco Santander, Banco Bilbao Vizcaya Argentaria, Iberdrola and Telefonica, the worst performers in the European blue-chip index, are losing ground.
Featured in Stockholm Ericsson (+7%) after closing a patent dispute with Apple. Volkswagen also did well (+2,5%).
More sensitive the impact on debt markets. In the first trades, the 1,87-year yield rose to 130% to its highest level for over a month, at the same time the spread on Germany jumped to around 24 basis points, to its highest level for almost a month and a half. The yield differential between Spain and Italy rises to XNUMX basis points, the highest since mid-November.
The price of Petroleum continues to retreat in the face of excess supply that risks worsening with the entry of US exports into the market. London's Brent crude dropped 59 cents to 36,29 dollars a barrel after hitting an 11-year low at 36,17 dollars a barrel.
Eni +1,56%, despite the new drop in crude oil could weigh on the prices of the entire oil sector. Saipem (+0,33%) and Tenaris (+0,84%) also rose. Weak Enel (-0,5%) after the conclusion of the sale of the Slovakian plant. The Spanish component of the portfolio weighs.
Poste Italiane -0,9%, coinciding with the day of entry into the Ftse Mib index. Fly Rcs Media Group (+9,3%) after the presentation of the business plan, which sees the return to profit from 2016 and a debt/ebitda ratio of 2 at the end of the period.
The automotive sector also shines: Fiat Chrysler +1,25%. Well Volkswagen (+2,5%): the Californian authorities have postponed the decision on the repair plan for the dieselgate cars.
The race continues Pininfarina for the fourth consecutive session after the 69% slide following the announcement of the agreement with Mahindra & Mahindra. The stock trades three times the price of 1,1 euro set for the takeover bid that the Indians will launch after the acquisition of the family's stake.
Unicredit (+1,17%) is the best stock of the Eurostoxx Banksa index which moves on the contrary down by 0,5%. The institute reached an agreement to sell 340 million euros of gross bad debts of Romanian assets for a countervalue of 28 million (with a discount of over 90% on the nominal value).
Weak asset management: Mediolanum just below parity. Azimut loses 0,5% to 22,98 euros, General Bank -0,2%. The Stability law contains rules that make tax optimization maneuvers more complicated: through the relocation of activities to European countries with low taxation.
The luxury stocks are also advancing: Moncler + 0,5% Ferragamo +1,3%. Tax free purchases, a key figure for understanding the trend in the consumption of luxury goods, returned to strong growth in November (+21,5% year on year) after the slowdown in October (+6,5%).
Italy is holding up well, covering 16% of this market behind only France (18%): tourists who have requested VAT refunds in our country have grown by 15% from +14% in October, according to Global data blue.
Pierrel (+4%) communicated that Therametrics, a Swiss company in which it holds a stake of approximately 27%, announced that it had signed a binding agreement for the realization of an aggregation transaction with Relief Therapeutics, a Swiss company based in Geneva, active in the development of treatments for diseases with particularly serious effects on the quality of life of patients.
