Closure in red for Business Square, -1,64% 24.142 points, weighed down by financial stocks, while lo spread between ten-year Italian and German it rises to 130.80 basis points (+5,65%) after having touched a minimum of 111 points, for two years, on 25 April last. The political crisis breaks into the markets and puts Italy under pressure. Today Milan is in the black jersey behind Frankfurt -0,28%; Paris -0,17%; London -0,02%. Bucking Madrid +0,28%. Also Wall Street opens weakly and at the moment continues cautiously waiting to hear Donald Trump at two in the afternoon (20 pm Italian time) about the nuclear deal with Iran. While Washington could abandon the agreement and reintroduce sanctions against Tehran, the EU confirms its support for that pact.
Uncertainty heavily penalizes the Petroleum, also weighed down by the alarm in Venezuela where the situation worsened further after ConocoPhillips won an international arbitration for the expropriations suffered in 2007.
Brent -3,09%, 73,82 dollars a barrel, after the gallop of recent days. According to some analysts, the drop in price seems to reflect the habit of "buying on rumors and selling on the news" typical of the markets, which did not expect a Trump statement so quickly.
The Dollar Remains Strong Against theeuro and the exchange rate between the single currency and the greenback fell to 1,186 (-0,5%).
The session is particularly negative for thebond flag, in a context of decline for almost all of the European sector. The yield of the 10-year BTP rises to 1,87% and pays the risk of new elections in July. Meanwhile, the President of the Republic Sergio Mattarella is working on the choice of the premier and ministers who will have to compose the guarantee executive to be sent to the Chambers in search of a trust that seems difficult in these hours, according to the declarations of Matteo Salvini and Luigi DiMaio.
The situation risks causing a worsening of Italy's Target2 debt, which instead fell in April for the second consecutive month.
In Piazza Affari, in correspondence with the release of many quarterly reports, even higher than the consensus, a rain of sales hits the banks. At the bottom of the list Bper -3,98%; Ubi -3,47%; Finecobank -3,46%. Heavy Unicredit, -3,17%, after The Caius hedge fund attack for the 2008 cashes instruments, which would lead to an incorrect evaluation of the capital parameters and despite the sharp rejoinder of the bank "We have a solid position, no impact from those securities". Understanding -0,57% limits damage after results significantly higher than expected.
Utilities are down, starting from Italgas, -3,63%, notwithstanding the accounts for the first quarter confirmed expectations.
Down Brembo -3,51% after the quarterly.
Telecom it drops, -2,37%, the day after the appointment of top management.
Purchases come back up Moncler, +3,49%, which returns to the top of the list after a series of negative sessions. Well Prysmian +1,75%; Buzzi +1,13%; Luxottica +0,73%; Exor + 0,37%.
Among the smaller titles it shines Fila (+6,11%), in the wake of the announcement of the purchase of the US group Pacon for 340 million dollars. Thus the “Fabbrica Italiana lapis ed affini” becomes one of the main operators in the US market of products for the school and art&craft sectors.
Upon completion of the transaction, Fila's board of directors will ask the shareholders' meeting for the go-ahead for a capital increase of 100 million euros. Completion is subject to conditions precedent, including antitrust approval.
In decline Piaggio, -1,4%, in light of the quarterly.
