INDUSTRY RISES, BUT BUSINESS AREA SLOWS DOWN. THE SPREAD RISES, CAMPARI AND A2A ADVANCE
Piazza Affari slows down after a positive start: the Ftse Mib index drops by 0,24% to 23.440. Frankfurt -0,11% and London -0,09% are also in the red. Madrid unchanged, Paris gains 0,18%. The spread goes back to 146, the highest since 17 April.
The positive data coming from the Italian economy were canceled by the market on Greece. This morning François Hollande and Angela Merkel had a long telephone conversation with Alexis Tsipras. The Franco-German meeting will take place tonight. At the basis of the increase is the jump in new orders for exports, which raises the reading of the general index to the highest since April 2011 and beyond estimates.
Telecom Italia shuts down in Piazza Affari, unchanged after a much more free-range start: on the wave of promotion to Buy by Jefferies. positive Enel +0,32%. Among utilities, the largest variation is A2A +1,68%, driven by Goldman Sachs which raised the target price to 1,36 euros (Buy recommendation).
In good evidence Campari salt by 2,4%. The stock recovers after last Friday's drop (-1,9%), helped by Nomura who confirmed today the Buy recommendation and the target price of 8,20 euros. In the industry StM 0,3% salt, Finmeccanica unchanged, Fiat Chrysler +0,6% pending May sales data.
In great evidence the cement stocks promoted by HSBC to Buy: Buzzi salt of 1,5%, Italcementi advance 2%. Among the oil companies it reduces the profit Saipem +0,26% from the initial +1,3%, while Eni marks a drop of 0,7%.
In Europe, the sector showing the greatest growth is the pharmaceutical sector (Stoxx +1,4%): in Milan Recordati earn 0,9%, Pierrel +3,6%. Finally, finance. Weak Unicredit -0,2%, down on the start of the session, slows down Understanding . Banking Pop.Milan + 0,2%.
