US CONFIDENCE FALLS, ALL BAGS DOWN. BAD INDUSTRY, BANKS AND INSURANCE
Markets fell short after the unexpected drop in US consumer confidence. In Milan, the FtseMib index fell by 1,15% to 23.532 points, greater losses on the Paris -2% and Frankfurt -2% stock exchanges, while London fell by 1,3%. Things are better in the USA: the Dow Jones and the S&P500 are down by 0,5%. Nasdaq loses 0,8%, Nasdaq Biotech marks a decline of 2,7%.
The slowdown of the dollar against the euro, which has reached the threshold of 1,10, explains the better stability of US stock markets on the day the Fed meeting on interest rates opened. The Treasury placed 6,5 billion six-month BOTs at zero interest this morning. BTPs are up slightly.
To note the advance of Merck +4% after the positive outcome of tests on a new drug for diabetes. Sink instead Coach -7% after the results. Apple Lossless Audio CODEC (ALAC), it lost 1,6% to 130,4 dollars, after an upward start that brought the stock to the highest in its history, the about-face has arrived.
In Piazza Affari the most substantial losses concern industrial stocks, starting from Fiat Chrysler -2,8% and Cnh Industrial -2,6%, without forgetting Finmeccanica -2% and StM -3,4%. The insurance landslide resumes (Stoxx -2,2%): Axa in Paris marks a drop of 3,6%. In Milan Generali -1,7% UnipolSai -1,6%.
Among the banks heavy discounts for Ubi -3,1% and Popular of Emilia -2,1%. Fire red also for Understanding -2,1%. MontePaschi -0,9% Unicredit -0,5%. Asset management stocks are positive, in particular Mediolanum + 2,5%. Azimuth + 0,6% Anima + 3,9%.
They are little moved Enel -0,1% and Telecom Italy -0,1%. Weak too Mediaset. Eni rises by 0,3%, driven by the rise of the French Total +1%, which announced better than expected results thanks to the recovery of profitability in refining. Heavy thud of Saras -4,54%: the joint venture project between the Moratti company and Rosneft was frozen due to the sanctions. The Russian company does not intend to increase its 21% stake by exercising the call envisaged in the agreement.
