The thud of Ferrari, -8,35%, tinged with bright red Business Square, which accelerated downwards in the final and closed down by 1,91%, at 21.791 points. They are not enough record second quarter accounts to curb sales on the prancing horse, with the CEO Louis Camilleri defining the targets of the plan to 2022 as "ambitious". The economic slowdown and the rain of quarterly reports in chiaroscuro also weigh on the Milanese price list. However, the financial climate, unlike the meteorological one, is cold even on a continental level, with the risks of a trade war still looming and the price of oil falling: London loses 1,24%; Frankfurt -0,53%; Madrid -0,72%; Paris -0,23%.
Wall Street opens moderately positive but is currently trading mixed with the Nasdaq backed by Apple Lossless Audio CODEC (ALAC), (+5%) which reaches $200 per share for the first time, after the record quarterly presented yesterday; a real breath of fresh air for the tech sector, after the disappointing results of Facebook and Twitter. While waiting for tonight's Fed verdict, the markets are holding their breath, hoping to understand even if the US and China will find mediation on the tariff issue, as it seemed yesterday, only to change their mind during the Italian night, with rumors about a new fiery back and forth between the Trump administration and Beijing. Meanwhile, the yield on US government bonds is rising, with the 3-year bond returning above 30%, while the US Treasury announces that it will raise debt issues by 2019 billion dollars between August and October in view of a deficit that is expected to explode to one trillion dollars a year between 2022 and 10. The Italian secondary closed slightly positive, with the yield on the 2,8-year BTP at 230.40% and the spread with the Bund at XNUMX points.
THEeuro it weakens against the dollar, exchange rate around 1,167. The Petroleum remains in a downward phase, after the unexpectedly rising weekly data on US inventories. Brent -2,1%, 72,65 dollars a barrel. Wti -1,75%, 67,56 dollars a barrel. Gold also fell, -0,41%, 1219,08 dollars an ounce.
In Piazza Affari the worst blue chip is Ferrari, which in the first half of 2018 recorded a net profit of 309 million euros, up 19% compared to the same period a year ago. The revenues of the last half-year led by Marchionne, chairman, amounted to 1,737 billion euros, almost stable compared to a year ago (-0,3%). Car deliveries rose 6% to 4.591 units. Ebitda grew by 10% to 563 million euros, Ebit by 13% to 428 million. Basic earnings per share amounted to €1,63, up 19% compared to the first half of 2017, with diluted earnings per share at €1,62 (+18%).
It also closes sharply lower Understanding, -4,59%, although the accounts do not seem disappointing. the second quarter ended with a net profit of 927 million, against 837 million in the same period of 2017. The bank confirms its dividend policy with the distribution of a cash coupon based on an 85% payout. Profit-taking weighs heavily, at least in part, according to CEO Carlo Messina: “Yesterday we earned 4% on nothing'” and today the share falls while “we publish results with which we demonstrate that we will pay a dividend, quality results and a reduction of the impaired". Intesa stock had gained 9,7% in the last six sessions.
They disappoint the results of Enel and the stock slides by 3,96%; to worry would be the increase in net financial debt to 41,5 billion (+11,2%) and the fact that Goldman Sachs cuts the judgment from 'buy' to 'neutral' with a target price of 5,25 euros. fca – 2,64%; Bpm -2,68%. The positive side of the main price list is led by Banca Mediolanum, +3,91%, still in the wake of higher-than-expected accounts. Well Campari +1,94%; stay toned Leonardo +1,41%, after yesterday's leap. Also shop on Finecobank +1,44% and Cnh + 0,8%.
