The positive news from US real estate did not reassure the European Stock Exchanges, where the threat of recession weighs heavily, which is also infecting the German locomotive. In Milan, the FtseMib index closed down by 0,92% at 16.557, London fell by 0,2%, Paris by 0,52% and Frankfurt by 0,93%.
Meanwhile, sales on the BTP are back: the 8-year yield rises by 5,48 basis points, to 357%, while the BTP-Bund spread widens to 14 basis points (+0,36 basis points). In New York, the Dow Jones index lost 500%, the S&P0,17 index 0,54% and the Nasdaq 4,3%. The shock of the real estate market recovery was not felt: in January existing home sales measured by the Case-Shiller index rose by 4,57%, to 1,1 million, compared to +XNUMX% expected .
In the afternoon the emotions came from Piazzetta Cuccia: the arrival at Mediobanca of Hervé de Castries, number one of Axa, triggered a wave of purchases on Fondiaria, which rose by seven percentage points, to then close at +2,72. Milan Insurance earn 4%.
Big leap forward also for Generali (+4,12%), on the wave of positive reports, among which the promotion to neutral by Bank of America stands out. Other banks, with the exception of financials, fell MontePaschi (+1,6%), supported by the negotiations for the entry of new shareholders and by the duel for the position of president between Alessandro Profumo and Carlo Salvatori. Unicredit loses 3,4%, Understanding 3,08%, Ubi 3,09%. The Popolari phenomenon also deflates: PopMilan loses 4.03%, Banco Popular 1,68%.
Among the blue chips also loses shots Finmeccanica (- 5,26%), foreseeable correction after the rally of the previous three sessions.
On the day of the Board which, among other things, will have to convene the budget meetings, Fiat rises by 0,96% at the end (after reaching +3%), driven by the news arriving from Paris: Peugeot explodes at +16%, after announcing the start of negotiations to achieve a strategic partnership without mentioning the name of the partner, already identified in General Motors. The rumor, therefore, does not damage the Lingotto, demonstrating that the market has never seriously considered the hypothesis of a Turin-Paris alliance. Fiat Industrial meanwhile it loses 0,97%. Other industrialists are down: Pirelli -2,4% StM -2,12% Prysmian -1,5%.
From Paris also comes the anticipation that France Telecom will reduce its dividend, as it probably will Telecom Italy (-1,87%), which today will present quarterly data and give indications on the dividend. Enel down 1,56%: Morgan Stanley lowered its rating to equal weight da Overweight.
Among the mid caps to report Amplifon (+5,4%), promoted buy by Kepler. Conversely, the underperform rating of Chevreux pushes downwards Iren. Prelios (the former Pirelli Real Estate) rises by 10% and reaches its highest level since mid-November.
