Stock exchanges recover on the eve of the European Council. However, the increase in oil prices triggered by the US will to sanction the countries that after November 4 will buy Iranian crude weighs heavily. In 2018, according to estimates by the Unione Petrolifera, the Italian energy bill will rise to 21 billion from 17.
The oil sector is doing well in Milan: Tenaris + 1,7% Eni +1,13%. Best of all Saipem (+3,1%): in addition to the rise in prices, the anticipations of the Financial Times also count, according to which the LNG plant of the consortium led by Anadarko in Mozambique could start up in the first half of 2019. According to Equita, the benefit for the Italian company would be 1,1-1,2 billion.
A Business Square the index dropped by just over 0,2%, just below 21.400 points. In slight progress Frankfurt and Paris (+0,2%), similar trend to London. Madrid loses 0,5%.
The Treasury awarded all the 6,5 billion euro of six-month BOTs offered at auction today, with the rate returning below 1%. The average yield fell to 0,092% from the 1,213% of the May placement. Demand reached 12,884 billion with a coverage ratio up sharply to 1,98 from 1,19 a month ago.
The turbulence of the markets in May, on the other hand, put the situation ko the fundraiser. It was a rather complex month for Italy in which there were quite marked drops in quotations. Based on the monthly map of Assogestioni, the Italian asset management industry closed the month with a loss of 6,91 billion euros, from +2,93 billion in April, bringing the balance from the beginning of the year to 9,9 billion .
Weak Sector Stocks: Azimuth-0,4% FinecoBank -0,4% General Bank -1,9%.
Also declining Generali (-0,6%) which this morning announced the rise from 25,5% to 49% in the insurance partnership with an Indian group Futura group. Unipol -0,6%.
Confindustria sees for the two-year period 2018-2019 a slowdown in Italian economic growth and fears a risk of a corrective maneuver to respect the European constraints on public finances. The GDP is estimated by the Centro Studi at +1,3% this year (from 1,5% in the December estimate) and +1,1% next (from +1,2%). The decline is linked to the uncertainty on the international and domestic markets, which makes the dynamics of the economy less lively. "It is plausible", according to the economists of Viale dell'Astronomia, that Europe is asking for a corrective measure, estimated for this year at 0,5 points of GDP, equal to 9 billion.
Consumer confidence rose in June, reaching 116,2 from a revised 113,9 in the previous month, Istat announced.
In the main basket, the biggest declines concern banks: Ubi – about 1,6%, Unicredit -1,3% and Understanding -2% approx. The sector index loses 1,24%. In Europe, the sector loses a marginal 0,9%. In sharp decline Carige (-3,8%) after that the resignation of the president Giuseppe Tesauro they reignited tensions within the institute. Exchanges are intense with over 300 million items handled in the first two hours, almost equal to the average of an entire session.
Still down Telecom Italy (-0,5%) after a start in deep red: -1,8% to 63,54 cents, the lowest since October 2013.
Down Leonardo (-0,9%) And Fiat Chrysler (-0,2%). Donald Trump's latest tweets reveal that the White House is about to conclude its assessment of European car imports into the United States. Yesterday Sergio Marchionne said that duties are not a big problem.
Mediaset -0,4%. The assembly nominated Fedele Confalonieri as president for the next three years: the company is ready for an alliance between European broadcasters.
Gima TT -9,2% after KeplerCheuvreux cut the rating. Tod’s -0,8%: JP Morgan cuts the target price to 55 euros. Bio-On +2,1%, on new highs.
Energica Motor Company, manufacturer of high-performance electric motorcycles, on the day of semi-annual accounts it leaps forward by 11% to 3,18 euros, the highest since the beginning of May. At the moment the stock is suspended from trading due to excessive bullishness. At the end of the first six months, the company recorded a turnover 5 times higher than that of the first half of 2017. To date it is already well over double compared to the entire previous year.
