The European stock markets are losing ground, in the wake of news weighing on the mood of the markets at various latitudes: political uncertainty in Italy and Argentina, and the continuous unrest in Hong Kong are driving investors to seek refuge in the bond and gold markets. Accelerate the descent of Business Square (-0,60%) in line with Madrid, weighed down by the difficulties of the banks exposed to Buenos Aires. It gets worse Frankfurt (-1%) after the publication of theconfidence index, the Zew, collapsed to -44,1 compared to -24,5 in July. In the German list, the colossus Henkel loses 7% after communications for the quarter: the Beaty Care division (Antica Erboristeria), Neutromed and Schwarzkopf did badly.
Meanwhile, at the airport of Hong Kong the situation is once again critical, the airline Cathai Pacific has suspended boarding operations and has warned that there is a strong risk of flight cancellations. The company, in the statement just released, condemns all the illegal and violent activities of the demonstrators.
At Piazza Affari the spotlights are on Madame Palace where at 18, with the markets closed, the calendar of the government crisis will be decided after the agreement has not been reached in the group leaders. The majority made up of Pd, M5S, mixed group and Autonomies expressed themselves in favor of a debate on August 20, while the Lega and Fratelli d'Italia indicated August 14 to discuss the Carroccio motion of no confidence against Conte.
Il Petroleum WTI is down 0,2% to 54,9 dollars a barrel. Under fire Tenaris (-1%), but black gold has little to do with it. The Rocca group company has about a fifth of its production capacity in Argentina, the devaluation of the peso, in terms of mere accounting, has a positive effect, as the costs of its companies located in the country are expressed in local currency. But the financial crisis will have a negative impact on investment in Argentina. Eni + 0,1%. Saipem -1%.
Other companies listed on Piazza Affari are exhibited in Buenos Aires: Pirelli -2% Cnh Industrial -1,6% Salini Impregilo -1,5%.
Il BTP it appreciates at 1,68%, -2 basis points. The yield of Waist touches new all-time lows at -0,61%. L'gold it goes to levels never seen in the last six years, at 1.528 dollars (+1,2%).
Weak banks: Where's Banca -0,5% Unicredit -1,7% Bpm bank -0,5%. The growth of loans slows down mainly due to the corporate component which shows a more marked slowdown.
Slows Atlantia (-0,7%). On the future of Edizione, the Benetton holding company, various solutions would be on the table concerning a reorganization of governance or a possible division of activities between the four family branches. Il Sole 24 Ore writes it adding that the times could be longer than expected.
Correct downwards Buzzi (-1,7%). Morgan Stanley downgrades the judgment to Equal Weight, target price at 21 euros. Leonardo -2%. Moncler -2,5%.
Telecom Italy it is down, not far from its historic lows, at 43,3 cents. The hypothesis of a caretaker government whose main focus would be on compliance with European budget constraints would probably overshadow the single network hypothesis and therefore the merger with Open Fiber which could free up value for the group.
They hold energy and utility for their defensive nature, with Snam, A2A e Italgas in the positive ground. Nell'Aim continues the march of Confinvest (+8%), market leader in gold bars and coins.
