It falls steeply Business Square, stunned by the virus effect that infects other markets, as well as all forms of investment. At 12.45 Milan yields an abundant 4,68%, falling below 24 points (at 23.634). Losses well over 3% a Paris, Frankfurt e Madrid. London it leaves about 3,2% on the ground.
The Italian government has issued a decree law to introduce a package of extraordinary interventions capable of isolate areas of infection (currently limited to a dozen municipalities and 50 inhabitants) for a couple of weeks. Equita analysts expect a negative, but temporary, impact on GDP. From Saudi Arabia, where he attended the G20 summit of finance ministers and central bank governors, the governor of the Bank of Italy, Ignazio Visco, told Bloomberg that the virus could have an impact of more than 0,2, XNUMX% of GDP.
A positive signal, but overcome by the emergency, comes from the German Zew confidence index which rises more than expected to 96,1 points.
Lo spread between BTPs and German Bunds, the week opens up to 143 points compared to last Friday's closing at 134 due to purchases on German paper, the safe haven asset par excellence in the euro area. The 0,49-year Bund trades at -0,98% at its lowest since October. The yield on the Italian XNUMX-year bond stands at XNUMX%.
Il Petroleum Brent is down 2,4% to 57 dollars a barrel. They open the week of accounts in deep red Eni -4,1% that Saipem -6,1%.
on the shields the +2% to 1.678 dollars an ounce, a new high since 2013, from +1,5% on Friday. The race for protection pushed the yield on the 30-year US Treasury to 1,91%, its lowest in history.
The descent of the Italian Stock Exchange is led by the banks, already protagonists of the risk-related rally. Because you hit Intesa Sanpaolo -5,1% to 2,392 euros which closed branches in 11 cities in northern Italy due to the coronavirus. It gets worse Where's Banca -5,3%. Today in Bergamo the shareholders of Ubi meet in the so-called "Patto dei Mille" (represents about 1,6% of the bank's capital), while the shareholders' agreement (controls about 7,7%) has postponed the meeting scheduled for tonight. The top management “in compliance with the provisions of the Ministry of Health and the Lombardy Region, have decided to postpone to the earliest possible date the Pact meeting scheduled for this evening” to evaluate Intesa Sanpaolo's ops.
It also misses out Unicredit -4% despite the fact that the ad Jean Pierre Mustier has confirmed that he will remain at the helm of the bank. In deep red too Bpm Bank -6,3% and Bper -4,2%.
Crolla nexi -7,3%, securities under management were also affected: Azimuth -6,8%. FinecoBank -5,2%. Italian post -5,75%. Deutsche Bank raises its target price to 13,5 euros, one euro more than before.
Similar script in luxury: Moncler -6%. Ferragamo -8%. BRUNELLO CUCINELLI -4,5% Tod’s loses 7,6%.
The outbreak of COVID 19 in Italy could cost luxury companies a daily drop of about a third of sales in Italy: almost half of the domestic turnover is generated by tourist purchases, this flow of visiting foreigners, it should drop considerably, also as a result of the precautionary measures taken in some areas of the country. For Tod's, the activities in Italy should be worth more than a quarter of revenues, followed by Cucinelli and Moncler with around 15% and 11%.
The reduction in travel also penalizes Rest -12,9% Campari -4,85%.
Technogym -6,4%. In Northern Italy, many gyms remain closed due to the virus. Sales also in the automotive sector. Fiat Chrysler -5,3%. Classic Ferrari for sale -5,5%. Pirelli -5,6%. Utilities are not spared. Enel -3,2% Terna -3,2%.
However, the Scudetto for the worst performance belongs to the title Juventus -11%. In the first half of the 2019/2020 financial year, the company recorded a loss of 50,3 million, compared to the profit of 7,5 million in the same period of the previous year. Weak results, mainly due to the sharp increase in personnel costs, a phenomenon which should be partially reabsorbed in the second half of the year.
