INTESA AND UNICREDIT SUPPORT THE STOCK EXCHANGE
HEAVY STM, LUXURY BENEFIT SOCKETS
After a downward start, the Ftse Mib index + 0,38% at 17.528 is attempting the great feat: the seventh consecutive increase. The recovery is supported by the banks, above all by the two largest, in turn driven by the decline in the spread and by the promotion of Crédit Suisse: Intesa rises by 2,93% and Unicredito by 1,56%.
In fact, on the government bond market, the decline in the Bund Btp spread continues, albeit at a very slow pace, the distance between Italy and Germany goes down to 234 basis points (-1 basis points). The BTP yields 4,22% (-2 basis points).
However, Europe is not following Wall Street's descent on August 0,03th, motivated by fear of the start of tapering, ie the cut in purchases by the Fed. In Europe, the other stock exchanges float around parity. London -0,23%, Paris +0,19%, Frankfurt -0,47%, Madrid rises by 17,3%, confirming the good performance of southern Europe. The trade surplus of the European Union rises to 14,9 billion (from 4,08). Meanwhile, auto sales in Germany rose by XNUMX% in the last month.
The march of Monte Paschi continues +2,4%. The mayor of Siena, Bruno Valentini, reiterated (contradicting the prudence of Alessandro Profumo) that there is great interest in the bank from Italian and foreign investors. Ubi +1,49%, Mediobanca +1,8%, Banca Popolare di Milano +1,62%.
Instead, the race for Brunello Cucinelli stops -2,21%. The entire luxury segment was weak: Ferragamo – 2,27%, Tod's -2,6%, Luxottica -0,6%. Generali rose by 0,52% and Fondiaria Sai by 0,69%.
StM falls -2,47% Yesterday evening the Sox index, which includes the most important names in the chip industry, closed the session with a drop of 2,2%. Also weighing on Stm is the cut in the judgment by HSBC, the Anglo-Chinese broker has taken it from neutral to underweight.
Other industrial stocks also fell: Fiat -0,54%, Finmeccanica -1,67%, Pirelli -1,4%.
Mediaset rose by 0,59% also thanks to the promotion of Bank of America Merrill Linch to "neutral" from "underperform".
