After the rush of the last few weeks, the Piazza Affari rally comes to an abrupt halt and, by mid-morning, travels in deep red. The Ftse Eb yields more than 2% but it remains anchored above 24 thousand points. He also took profits on the other European stock exchanges pending the words of the American president, Donald Trump, on the possible US exit from the Italian nuclear agreement. Frankfurt loses 0,57%, Paris 0,3%. Slightly down too Madrid (-0,15%), while at the moment it is saved London (+ 0,17%).
The eyes of the markets are focused on Petroleum which, after the rally that brought black gold to its highest level in three and a half years, is losing ground today frightened by the possible arrival of US sanctions against Tehran: the WTI is back below 70 dollars a barrel (-1,22%), while Brent changed hands at 75,47 dollars (-0.9%).
In Milan they suffer especially the banks, on which the weight of the political uncertainty that afflicts Italy in the aftermath of the decision of the President of the Republic is poured, Sergio Mattarella, to push for a neutral government that ferries the country towards early elections. The worst is Bper (-5,17%), bad too Bpm bank (-4,77%), Finecobank (-3,33%) And Intesa Sanpaolo (-1,8%). In the spotlight Unicredit (-2,72%) after the allegations of the speculative fund Caius Capital on its capital strength.
The title is in red Telecom Italy after the appointment of Fulvio Conti as chairman and the confirmation of Amos Genish as CEO. Below Italgas (-4,12%) after the accounts for the 2018 quarter which showed an Ebitda up by 2,7% on an annual basis and in line with expectations, and a net profit up by 4,5% compared to the first three months of 2017 but lower than analysts' estimates.
Only three positive titles: Moncler (+ 1,2%), Saipem (+ 0,5%) and Luxottica (+0,31%). Out of Ftse Mib it is necessary to report the performance of Fila which gains 4,4% after the purchase of 100% of the American company Pacon for 340 million dollars.
Italy's political uncertainty weighs not only on the stock market but also on the spread which returns above 130 basis points. The yield on ten-year BTPs rises to 1,83%, a level not touched since last March.
