The Stock Exchanges are retreating, but not too much. The huge volumes of liquidity in circulation combined with the ECB's expansionary policy cushion the explosive situation in Ukraine and Gaza. The price lists even moved into positive territory shortly after 10 am, on the wave of declarations considered to be appeased by Vladimir Putin. Then prudence prevailed again. Business Square is down by 0,41%, the Ftse Mib index is at 20.518. In red the other price lists of the Old Continent: Paris -0,34% Frankfurt -0,80% Madrid -0,91%. The Exchange of London down 0,62%
Lo BTP/Bund spread is at 166 basis points, the 2,81-year yield is at XNUMX%. The report euro/dollar is at 1,353. Gold trades at $1.309 an ounce. The Petroleum salt. Wti advanced by 0,3% to 103,5 dollars a barrel, Brent to 108,2 dollars (+0,2%). Two important indicators are expected in America in the afternoon: the Michigan University confidence index and the super-index.
Financial stocks and cooperative banks thwarted in Milan: Understanding -1,2% Unicredit -0,3% PopMilan -1,4% Ubi -1,8% Banco Popolare -1,8%. Azimuth falls back by 0,8% There is positive ground Mediobanca (+0,59%) in the aftermath of the board meeting which simplified the structure of the syndicate pact and sanctioned the strengthening of Vincent Bolloré's stake.
Among the insurance Generali -0,4% UnipolSai -0,1%. The hypothesis that air transport (and tourism) could suffer damage after the attack on the Malaysian plane is striking Rest (-2,1%), leader in US airport catering, e Atlantia (-1,5%), which manages Fiumicino. World Duty Free on the other hand, it moved little (+0,2%).
Eni ed Enel, two of the Italian companies most exposed to Russia, have moved little: the first falls by 0,2%, the second by 0,4%. Fiat (+1,1%) remains in the spotlight after the rumors about contacts between the Agnelli family and Volkswagen for a possible sale. Among industrialists, Pirelli falls by 0,6%, Finmeccanica -1,9%.
The best title is Ferragamo which marks an increase of 4,2%, backed by Exane which raised the recommendation to outperform from neutral, with a target price of 25 euros. The other luxury stocks are barely moved, with the exception of cucinelli (+4,6%), which yesterday released good results of the second quarter turnover (+11,6%).
It stabilizes Telecom Italy (-0,2%). Gtech (-0,32%) does not seem to feel the downgrade received by S&P (from BBB to BBB-) after landing in Las Vegas.
