Italy is a country "under strain", "lost" and deeply "weakened" by a persistent crisis. The words of Censis, used to photograph the situation in the country, could also be recycled to describe the performance of the Milan stock exchange on the last day of trading before the weekend of Sant'Ambrogio, patron saint of the Lombard capital.
Despite a very small burst of market opening, Piazza Affari is in fact still weak today after the news that arrived yesterday from the ECB and above all - paradoxically - from the data on the GDP of the United States, which, recording very high and unexpected growth in the third quarter, would thus bring the spectra of tapering, which the Fed could even discuss at its mid-December meeting.
At the end of the morning, the Ftse-Mib index lost just over half a percentage point, dragged down above all by the Mps debacle (-3% at 0,1628 euro): not only the prospect of the 3 billion capital increase proposed by the board of directors weighs on the share, but also the hypothesis that the Foundation tries to sell all of its shareholding equal to 33,5% of the capital within end of the year. And despite the exploits of Pirelli, which instead gains more than 2% (best stock in the basket) a 11,20 euros after the news that the former manager of Pirelli Francesco Gori will be advisor to Malacalza Investimenti "with a view to better management of the stake held in Pirelli & C.".
In general, the whole banking sector is struggling: Intesa Sanpaolo -1% y 1,647 euros, Unicredit equal to 5,075 euros, bpm -1,1% a 0,4139 euro, Ubi Banca -1,74% y 4,65, Banco Popolare -1,4% y 1,319, Bper -2% and so on. Only Mediobanca saves, +0,73% at the end of the morning a 5,985 euros. Telecom Italia also bad (-0,3% y 0,665 euro) despite the clarification, provided yesterday to Consob, that to the Telefonica convertible loan the "guarantee rules for transactions with related parties" were "applied", and Eni (-0,2% y 16,88 euros) after CEO Paolo Scaroni, who also confessed that he would like to remain at the helm of the group for a fourth term, commented on the Saipem investigation as follows (-0,4%): “Saipem is not Eni, we don't manage it because it works for our competitors, the magistrates will decide what happened. The investigation, which also concerns me, leaves us absolutely calm because we have absolutely nothing to do with it".
Campari, on the other hand, rises again, the only stock (apart from Pirelli) that gains more than 1% at 5,79 euros, returning to positive territory after a dramatic last month with a loss of 9%. Finmeccanica also rose towards 5 euros (after having dropped to 4,8 in mid-morning), on the day of the announcement that the subsidiary Selex ES has been awarded a contract worth A$188 million (approximately €125 million) by the Australian Defense Materiel Organization (DMO), for the modernization of the communications systems of the eight ANZAC-class frigates of the Australian Navy.
Unlike Milan and Madrid (-0,3%), the other European price lists are all in (slightly) positive territory: Frankfurt leads with +0,66%, London and Paris are also doing well. In terms of exchange rates, the euro is trading at 1,3656 dollars and 139,51 yen, while the dollar-yen stands at 102,16. Oil filed by 0,11% reaching 97,27 dollars a barrel.
