European stocks volatile mid-day. The lists move uncertainly oscillating around parity and contrasted.
Milan and London are doing well: the Fste Mib remains in positive territory and rises by 0,47%, as does the Ftse 100 which rises by 0,47%. The Dax, on the other hand, lost 0,12% and the Cac 0,01. This confirms the uncertainty of the price lists at the beginning of the session and deflates the momentum that arrived yesterday from the US macroeconomic data and Mario Draghi's "The plan for the banks", thanks to the possible glimmers for the easing of the capitalization requirements of the banks and the success of the auction of Spanish government bonds.
While in Italy the maneuver is starting today with a vote of confidence, the spread between Btp and bund confirms the descent that began yesterday and reaches 441 points. The spread between ten-year Spanish bonds and bunds also decreased to 320. However, stock markets were not particularly affected by Fitch's downgrade of six banks, including Deutsche Bank. Goldman Sachs, Barclays, Credit Suisse and Bnp Paribas are also in the sights of the rating agency, which during the week also downgraded our insurance companies Generali and Fonsai. The reason? Long-term credibility.
BANCO POPOLARE GREEN TO MODIFY THE BOND LOAN
HOURGLASS EVALUATES THE FONSAI DOSSIER
And in Piazza Affari it is precisely the bank shares that drive the Ftse Mib with Banco Popolare which jumps by 6,36%. Banco Popolare's bondholders' meeting approved the amendment to the regulation of the one billion euro 'Soft Mandatory' bond loan to allow the bank to have a greater quantity of shares available for conversion or the possible exercise of the right to early redemption, keeping the potential capital benefits intact in terms of core tier1. Mediobanca also performed well, rising by 4,9% and Ubi by 4,9% and Mediolanum (3,80%). Fondiaria Sai rebounds after a long series of negative sessions (+4,17%) in the wake of confirmed rumors that the private equity fund Clessidra, contacted by the Ligrestis, is evaluating the dossier. Other funds could also be part of the lot.
