European stocks are down after four sessions on uncertainty surrounding Britain's chaotic exit from the European Union. Weighs on Milano waiting for vote of the Rousseau platform, decisive for the accession of the Five Star movement to the formation of the new government. Piazza Affari loses around 0,35% around 21.350 points. The other price lists are also in red: Frankfurt -0,3% Paris -0,5%.
Madrid -0,3%. Spain appears to be heading towards a vote: Prime Minister Pedro Sanchez sees new elections as the most likely scenario in the near future, but he will publish more than 300 proposals today in a last-ditch bid to try and secure a government deal.
Almost flat London (-0,13%), supported by the pound to its lowest level since January 2017. Prime Minister Boris Johnson has called a meeting with ministers for today, fueling speculation about early elections if parliament succeeds in obstructing the government on a plan Brexit,
Weighs on the City the decline of 4% of Easyjet down after Kepler Cheuvreux downgraded the airline from "hold" to "reduce".
The euro it hit a 28-month low against the dollar at $1,0949 after falling as low as 1,09305 in Asian trade, the lowest since mid-May 2017. Investors are pricing in negative interest rates for an extended period in the euro zone. The money market sees the odds rising to 83% that the European Central Bank will cut its key rate — currently at -0,40% — by 20 basis points at next week's summit.
The yield of Btp 10 years it drops to 0,91% (-5 basis points), a new historical record. But the German Bund also appreciated, yielding -0,73%, from -0,70% yesterday, reducing the impact on the spread.
Piazza Affari makes its first assessments after the indications of the CNH Capital Market day presented today in New York. The "Transform 2 win" plan plans to separate road and non-road activities to create two independent groups. In particular, the transaction provides for the separation of the activities into two listed companies, one which will group the "On-Highway" business into which Iveco, Iveco Bus, Heuliez Bus as well as FPT Industrial will converge and the other with the "Off-Highway" businesses Highway”, which include agricultural, construction and special vehicles.
After the announcement Cnh decreases by 2,1%, while Fiat Chrysler advances +1,25%%. The possible sale of Iveco after the spin-off could further strengthen the financial solidity of the group.
In August, car registrations in Italy recorded a 3% year-on-year decline. FCA brands close the month down 16%.
Brakes Mediaset (-0,5%) on the eve of the shareholders' meeting battle between Fininvest and Vivendi. The Alfa Romeo board adjourned at dawn tomorrow to decide whether or not to admit Simon Fiduciaria, which holds 19,9% of the capital on behalf of the French shareholder.
Cerved it rose by 3,3% to 7,72 euro, following the news of the mandate given to Mediobanca for the sale of the Credit Management division.
The financial sector did not move much, where however the promotion of the target price of Generali +0,3% by Barclays stands out, which raised the target price to 15,60 euros. UnipolSai -0,7%. Weak banks: Intesa Sanpaolo -1,1% Where's Banca -1,3%.
Enel -0,9%. Berenberg cuts judgment to Hold. Among the utilities, Terna -0,1%.
Tim -0,1%. Rival Iliad reached 3,8 million customers at the end of June. The company closed the quarter with a loss of 108 million euros in terms of Ebitda. Outside the main basket it advances Somec (+5%), which announced this morning that it had received orders in the United States for 70 million dollars, the company was commissioned to build the glass facades of two buildings in New York and Cambridge, Massachusetts. With this order, the order intake since the beginning of the year, relating to the Landscape division, rises to 135 million dollars.
