Closing in red for the European lists, in a volatile session, attentive to every jolt of the global trade war and concerned by the many open fronts, from migrants to Brexit. The summit of heads of state and government began in Brussels on Thursday, described as "difficult" by EU president Donald Tusk.
In the afternoon, the US GDP data for the first quarter, revised downwards from 2,2% to 2%, also gives a push to the price lists. At the moment, however, Wall Street is recovering, after an uncertain opening and despite the drop in chain store shares, following Amazon's announcement of the purchase of online pharmacies. Technological and financial assets.
Piazza Affari stops at 21.432 points, -0,58%, after having suffered losses of more than one percentage point during the day. The banks center a partial recovery (Unicredit +1,89%), but the blue-chip balance remains negative. The worst title is Stm, -5,44%, penalized by the weakness of the technology sector at European level and of the semiconductor sector due to trade tensions between the USA and China. Rain sales also on Prismian -4,22%. Male Pirelli -2,96% and the Lingotto, with Fiat -3,37% e Ferraris -2,62% The auto sector is weakened by the specter of tariffs for imports in the US that could rise from 10% to 20%. It is no coincidence that the worst place is Frankfurt, -1,4%, but Paris -0,97%, Madrid -0,82%. Nearly equal London -0,07%.
THEeuro rises slightly against the dollar, with the cross around 1,159. Brent-type oil consolidates yesterday's gains, over 77 dollars, while gold travels backwards, reaching 1249,66 dollars an ounce (-0,22%).
The session is positive for i Italian government bonds. The 2,78-year yield is at 0,24%, the spread with the Bund is reduced by 246.20% to 3,5 basis points. The differential narrows at the close, after having risen in correspondence with the auction of medium and long-term securities, with demand more tepid than in the past. Warning from the ECB in its economic bulletin: Italy is among the seven countries in the euro area that this year risk a "significant deviation" from the public finance targets envisaged by the EU pacts. Countries such as Italy and Spain could also take "steps back" from previously adopted pension reforms. A ray of light, released by Istat, filters through the cloudy landscape: the Deficit/GDP ratio in the first quarter drops to 2000% and is the best result since XNUMX.
In Piazza Affari, purchases reward Unicredit; Bench Bpm +1,54%; Understanding +1,41%; Saipem +1,3%. Bfor +0,99%.
