The European stock exchanges closed the last session of a week with high volatility in mixed conditions, while Wall Street is looking for a rebound without too much conviction. Covid still expands, the economic crisis is not behind us and the Fed sees a long time to recover. In New York, the fear index, which yesterday exceeded 40, remains close at 37. The session on the eve was the worst since March for North American stock exchanges.
In the midst of uncertainty, Frankfurt loses 0,09%; Paris +0,49%; Madrid +0,08%; Zurich -0,22%; London +0,45%. According to the National Bureau of Statistics, the United Kingdom suffered a 20,4% drop in GDP in April, compared to March, due to the lockdown.
Piazza Affari gains 0,43% and after having walked all afternoon like a tightrope walker on the edge of 19 points, it closes at 18.888. Queen of the price list is Atlantia, +3,87%, which celebrates the better-than-expected quarterly results and feeds on the hope of finally bringing home an agreement on Autostrade. Prime Minister Giuseppe Conte tells the press that the government will decide "if not next week, within a couple of weeks". And the CEO of Aspi, Roberto Tomasi, is convinced that a "composition" will be found between the parties. The manager also reiterates that the company can invest 14,5 billion in the next few years, in "real projects" and the impact of this figure for the country could be 65 billion.
The banks are looking for a partial recovery, but only Mediobanca +2,01% really succeeds. Bper -2,27% is the worst blue chip of the day. The Modenese bank has been under pressure for several sessions following the developments of the Intesa Offer (+0,26%) on Ubi (+0,6%), at the end of which the Modenese bank could buy more branches than the expected.
The most significant increases were recorded by asset management securities, Banca Generali +3,51%; Banca Mediolanum +1,53%; Post +1,53%. Telecom rebounds +3,61%; Cnh +2,56%. Sales penalize Ferragamo -0,88%; Nexi -0,7%; Leonardo -0,51%; Diasorin -0,48%. The latter will detach the coupon on Monday. Well the bond, on the eve of the opening of the States General to relaunch the country's economy. The spread between Italian and German ten-year bonds fell by 0,74% to 184 basis points, with a BTP rate of 1,4%.
Among the raw materials is oil, Brent type is up 0,88% to 38,89 dollars a barrel. On the foreign exchange market, the dollar is recovering ground. The euro is trading down at 1,125. Gold is flat, around 1740,6 dollars an ounce.
