GREECE'S FATE WEIGH ON STOCK EXCHANGES AND SPREADS
LUXURY AND BRICKS SHINE IN PIAZZA AFFARI
Downward end of the week for European lists: in Milan, the Ftse Mib index fell by 0,49% to 14.880. The other Stock Exchanges performed better: London unchanged Frankfurt up 0,31%, Paris +0,02%.
The increase in orders of durable goods does not excite Wall Street because the market fears that the improvement will undermine the Federal Reserve's new stimulus.
For the eurozone crisis, the meeting in Berlin between Angela Merkel and the Greek premier Antonis Samaras ended with final conciliatory declarations: Germany recognizes Athens' efforts, the Greek government says it doesn't want more money, just a little more time. In any case, everything is postponed until after the Troika's visit to Athens in September. Tomorrow Samaras concludes the road show in the European capitals with a visit to François Hollande in Paris.
Meanwhile, reveals the Financial Times Deutschland, a working group would have been set up in Germany, led by Deputy Finance Minister Thomas Steffen, in charge of studying the economic impact of a possible Greek exit from the euro. Uncertainties about the fate of Athens push investors towards German government bonds: the Bund future rises for the third consecutive day and reaches 144,05. Sales on 10-year BTPs, the yield rises by eight basis points to 5,75%.
The euro is slightly down against the dollar to 1,252, from 1,256 at the previous close.
in European stock exchanges the most penalized sectors are raw materials (Stoxx -1,9%) and automotive (-2,4%). Particularly weak is Fiat, which fell by 3,74%. Fiat Industrial -1,5%, Pirelli down 0,77%.
Banks are also weak (Stoxx -1%): Unicredit -1,4%, Mediobanca -0,23%, Banco Popolare -1,16%, Intesa -1,41% and Pop.Milano -0,1%.
Generali it is down by 0,72% Unipol, on the eve of the decisions on the bis placement, is down by 1,1%.
Still downhill Finmeccanica -1,6%, and among the other industrialists StM loses 0%.
Strongly growing the titles of made in Italy and brick.
In luxury sector advances Ferragamo +1,5%, runs cucinelli +5%, new maximum since landing on the Stock Exchange.
Between small and mid caps two real estate companies shine, involved in operations that could lead to changes in the shareholding structure: Prelios gains 21% waiting for tomorrow the two interested groups, the American Fortress and the Merloni-Caputi consortium, to formalize their respective proposals.
Remediation rises by 8,5% after confirming that Hines Italia is interested in buying the Santa Giulia areas in Milan.
