Heavy sitting for Piazza Affari which leaves 1,54%% on the field, reaching 22.398 points, with banks in free fall. The rise in the sector weighs spread, 206.30 points after touching an intraday high of 215 points, and the shadow of the flat tax envisaged in the Lega-5 Stelle government contract, which could have a negative impact on the capital of some credit institutions. The yield on the 10-year BTP rises to 2,47%, with investor confidence undermined by a government that is perceived as anti-euro.
The prime minister in charge, Giuseppe Conte, has not yet presented the list of ministers for appointment by the President of the Republic, but has risen tothe Quirinale for an informal meeting. The puzzle of the economy remains, while Paolo Savona claims that there are vetoes on his name.
Political tensions are also sinking Madrid, -1,7%, and they pour on the Bonos who see the differential with the German ten-year increase by 11,92% (104.20 points). At the origin there is the government crisis with the conviction for corruption of the Partido Popular, the call for early elections by Ciudadanos, main ally of conservative premier Mariano Rajoy and the imminent presentation of a no-confidence motion by the PSOE.
Mixed the other European price lists: Frankfurt +0,65%; London -0,15%; Zurich -0,17%; Paris -0,11%.
Wall Street opens subdued, in view of the long weekend, because on Monday the square in New York will be closed for holidays as well as London. The Nasdaq is currently fractionally up, while the Dow Jones and S&P 500 are slightly below par. Above all, oil prices are going down, with the thud of crude oil. Investors are also weighing developments in relations with North Korea after the cancellation of the June 12 summit in Singapore between Donald Trump and Kim Jong Un. Today the American leader seems to be changing his tone and welcomes Pyongyang's openness to continuing to discuss in view of a meeting between the two presidents.
L'EUR it retreats against the dollar and the exchange rate drops to 1,166.
On the raw materials front, there was a decline of Petroleum, with Brent falling to 76,49 dollars a barrel (-2,97%) and Wti to 68,09 dollars (-3,71%). Stock prices are penalized by the prospect that Saudi Arabia, the UAE and Russia may ease their production cuts.
Even in Piazza Affari the oil stocks are down: Eni -2,46% Saipem -2,21% Tenaris -2,46%. The worst, however, are the financial ones: Bpm bank -7,34% Finecobank -4,31% Understanding -3,17%;, Mediobanca -4,01; Unicredit -3,92%. Outside the perimeter of the blue chips banks sink like Ps -4,58%; believe -5,12%; Carige -3,61%.
fca closed flat, after losing share with the announcement of the withdrawal of 4,8 million vehicles from the North American market to update a software that manages transmission control modules, warning car owners not to use cruise control until upgrade. Enel it dropped 2.28% the day after the shareholders' meeting which gave the green light to a dividend of 23,7 cents per share, up 32% compared to the previous year.
On the Ftse Mib the best title is Moncler, +3,78%. Also shop on Leonardo, +2,18%. The company was selected by the Canadian government for a $1 billion order to upgrade 14 helicopters.
Bene Campari + 2,04% stm + 1,73% Pirelli + 1,98%.
A patrol of pocket multinationals stands out on the Star: Interpump +3,02%; Ima +2,18%; Datalogic + 2,01%.
