Bankers are sinking, especially the popular ones (Bpm -7,91% and Banco Pop -7,44%), after the partial halt by the Council of State to the reform, but industrial stocks, starting with FCA, +4,58%, act as a dam for the Milan Stock Exchange which, after a day on the roller coaster, closes practically in parity, -0,21%, above the threshold of 17.000 points (17050.21)
European squares and New York remain indifferent to the Italian political situation. Wall Street, at the opening, flies towards new records and the European lists close in positive territory: Frankfurt +1,63%, Paris +1%, Madrid +0,67%, London +0,24%. Piazza Affari is therefore the worst on the continent, but there is no expected collapse after the no to the constitutional referendum and the resignation of Prime Minister Matteo Renzi.
Lo spread between the Italian XNUMX-year bond and the German bund widens: +1,83%, to 166,70 basis points, yield 2,01%. A predictable and contained movement, because probably no one dares to bet against the ECB, ready to open its protective shield in case of speculation.
Even the German finance minister Wolfgang Schaeuble appears reassuring: "Italians - he says - have a lot of experience in dealing with this type of situation". This does not mean that there is "an urgent need for a government capable of acting and I hope the path of reforms will soon be resumed".
The euro, which tonight seemed destined to collapse in the exchange rate against the dollar, is on the contrary experiencing a bubbly day: +1,79%, 1.0724 against the greenback. Oil goes up and on the scale that measures the pessimism and optimism of the markets, it gives a good boost: Brent +0,95%, at 54,98 dollars a barrel, after abundantly exceeding 55 dollars during the day.
Finally, the Ftse Mib appears split in two: on one side we find industrial stocks and oil companies in great shape, on the other bankers in free fall. In detail: in addition to Fiat; Ferrari +1,67%; Buzzi Unicem +4,42%; Cnh +3,79%; Leonardo Finmeccanica +3,72%; Stm +2,74%; Prismian +2,89%; Saipem +3,89%; Tenaris +2,51%.
On the other bank of the river, where the battle is raging, there are the two popular ones already mentioned, together with Mps -4,21%, with the top management of the institute and the advisors committed to deciding how to proceed with the recapitalization operation. Unicredit, -3,36%, a few days after the illustration of the industrial plan and in view of a capital increase which could now prove to be more problematic. They also weigh the rumors that the sale of Amundi can take place at a price in the low range of expectations and that there is a total cleaning up of non-performing loans with the sale of 50 billion gross NPLs. Mediobanca -4,58%; substantial sales on Finecobank -2,66%; Understanding of San Paolo -1,03%. Against the trend in the sector Azimut +2,26%. Telecom falls heavily -2,98%.
Best title of the day, off the main list is Stephanel +12,39%, according to press reports, the company aims to find an investor within the year in order to reach an agreement within the terms allowed by the court to avoid bankruptcy.
