OIL IN FREE FALL. MPS SINKS. GOOD SNAM AND LUXURY. BUT THE REBOUNCE FAILS
The attempt to rebound by the European stock exchanges fades. At the end of a session characterized by high volatility, the indices of the Old Continent closed weakly, failing to rebound after the negative performance of the first week of 2016 but without even letting themselves be dragged down by the new drop in Chinese stock exchanges, with Shanghai sold 5,3%.
In the end, the reversal of US price lists and the weakness of crude oil, at its lowest since 2003 below 32 dollars a barrel, weighed down the price lists. In Milan, the Ftse Mib closed in the red by 0,57%. Paris -0,48% and Frankfurt -0,25% were also weak. London is worse. On Wall Street, the S&P500 index lost 0,3%: at the start of the session it had gained 0,6%. Nasdaq -0,5%, Dow Jones -0,1%.
The dollar is strengthening against the euro, trading at 1,085 from 1,091 on Friday night. On the gray market, the 12-month Treasury bonds in auction tomorrow are trading in positive territory at a rate of 0,07%. Beyond the zero yield also the two-year bonds. The spread is 105bp, the Btp 10 yields 1,584%.
Yet another target practice is sensational Mount Paschi -11% and Carige –13,6%, after several suspensions. Good raises for some popular institutions Ubi +1,1% and Pop.Milan +1,6%, while Banco Popolare it lost 2%.
Unicredit +0,1%. “Good, I think. I'm amazed by the question." This is how Luca di Montezemolo, the bank's vice president, answered the question on how shareholders judged the bank's situation after the Financial Times article about the nervousness of some foreign shareholders. But Montezemolo, who sits on the bank's board of directors as an indirect representative of the interests of the first shareholder Aabar, will not be present at the next meeting.
Also down sharply Generali -2,8% which suffered from the new rumors about the possible exit of the managing director Mario Greco, who would be about to be appointed new managing director of the competitor Zurich Insurance. On the rise instead Snam +1% that during the session the stock reached a new all-time high of 5,025 euros.
In Europe, one of the best sectors was the Automotive sector (Stoxx of the sector +0,5%), driven by the increase in Volkswagen +2%. In Milan Fiat Chrysler fell by 0,4%, despite the fact that the CEO Sergio Marchionne reiterated in Detroit that the 2015 results will settle in the upper part of the range of indications provided by management, and confirmed the objectives of the plan for 2018. Cnh Industrial + 1,1%.
StM salt by 2,4%. Among the industrialists well too Finmeccanica +0,5% and Prysmian +1,4%. Final sprint of luxury: Ferragamo + 3,2% Moncler +1,7%. Finally slows down after a roaring year (+4%) Saipem which closed up 0,5% after the denial of Claudio Descalzi, CEO of Eni -0,4% on the company's participation in the Nord Stream gas pipeline project.
