Business Square it remains the rear light of the European Stock Exchanges (-0,4%) also due to the ex-dividend of eight listed companies (the effect is equal to 0,29%). The other European lists were positive: Frankfurt +0,4%, Paris +0,6% and London +0,5%.
The referendum theme weighs down Italian government bonds: the BTP the 10-year is trading at a yield of 2,11%, up from 2,09% on Friday. The spread with the German Bund is 182 points. The spread with Spain's Bono widens to 51 basis points. Spotlight today on the Strasbourg Parliament, where Mario Draghi will participate in the plenary meeting dedicated to the EU budget.
Il Petroleum it is on the rise, driven by the latest statements by ministers of Opec countries who believe that an agreement to limit production and support prices is imminent. Brent crude rose by 1,5% to 47,5 dollars a barrel.
Tenaris (+0,07%) recovered the advance on the dividend equal to 0,13 dollars per share (+1,1% net of the coupon). Shares of the producer of specialty pipes for the oil industry have rallied 10% in the past two weeks, thanks to the new line in Washington.
The arrival of Donald Trump in the White House could push the United States to hinder the free exchange of goods and products to defend local companies, and in the field of pipes for the oil industry, the Rocca group company is the leading US producer through subsidiary Maverick. Eni 0,9% salt, Saipem -0,6%.
One more black seat for Mount Paschi (-5%) after several suspensions due to excess discounts. Today the Board should give a push to the sale of its non-performing loans, a 9 billion euro net operation that revolves around Atlante 2. While for the valid constitution of the extraordinary shareholders' meeting which will have to give the green light to the recapitalization from 5 billion euro it is necessary to have shareholders representing at least 20% of the target capital which is still far away at the moment.
The Italian index of banks falls by 2,1% compared to the -0,7% of the European Stoxx for the sector. They drop by almost 2% Banco Popolare e Pop Milan. Unicredit it lost 1,1%, after the CEO of Aberdeen Asset Management said in an interview that he withdrew the offer for the Pioneer subsidiary because the price is too high. Jefferies raised the target price to 3 euros from 2,75 euros, confirming the Buy judgment.
Down too Understanding (-1,5%) And Ubi (-1%). Luxottica (+1,4%) favored by the strong dollar.
Among the reports:
Telecom Italy -2,5%: Bernstein cuts the target price to 1,05 euro from 1,2 euro. Outperform rating confirmed.
Campari -1%: Jefferies lowers the target price to 8,6 euros from 10 euros. Hold judgment confirmed.
Among the medium caps Hey Towers (+4%) announced an extraordinary dividend of 3,60 euros per share.
