Il Wall Street's formidable rebound it did not affect the European stock exchanges which, moreover, did not suffer the setbacks that hit the US markets in the Christmas Eve session. However, uncertainty dominates, also in the light of the negative forecasts of ECB Bulletin: "Looking to the future - we read - global economic activity should slow down in 2019". With regard to Italy, the Bulletin notes "a significant worsening of the budget balance following the fiscal expansion included in the budget planning documents which would violate the commitments made under the Stability Pact".
At Piazza Affari the Ftse Mib index loses just over 1% in the middle of the day, just above 18.200, still better than Frankfurt -1,8%. London -0,9%, Madrid -0,7%. Paris slides into negative ground -0,2% after erasing the gains at the beginning of the session. On the French list it is advancing Vinci +1,3% after announcing it is about to buy a majority stake in London's Gatwick airport for around £2,9bn.
The treasure this morning it assigned all 6,5 billion euro of six-month BOTs, but with rates rising to 0,215% from the 0,163% of the November placement. The coverage ratio decreased, equal to 1,33 times from 1,6. The Treasury also sold 2 billion euros of two-year Ctz with a yield of 0,699% and a coverage ratio of 1,78.
The debt market is weak: the 2,85-year BTP rises to 260%, the spread widens to around 0,22 basis points. The Bund trades at XNUMX%. Brent Oil Gained 8% Yesterday, was trading at $53,3 a barrel this morning, down 2%. Reuters anticipates a fresh increase in US oil inventories, the fourth in the past four weeks. Oil companies down: Eni -0,9% Saipem -3,3%.
The debutants of the main basket are highlighted: Juventus advances 4,5% in the middle of the day on the wave of the contract with Adidas, after having also reached +7%, Amplifon + 3,3%.
He misses out Enel -2,2%. The company sold the 50% stake in the EF Solare Italia (EFSI) joint venture held by Enel Green Power to F2I, the fund participated by Cassa depositi e prestiti, for 214 million euros. Down also the other utilities: Terna e Snam -2% .
It slips below the 0,50 euro barrier Telecom Italy -3,2% to 0,48 euros. The board of directors has launched the investigation to evaluate Vivendi's request to convene a shareholders' meeting.
Banks are also in the red. The system is struggling with the governance crisis di Banca Carige -12,5% to 0,0014 euros. It stands out among the possible candidates for a possible merger Ubi +0,3%. They miss out Bpm bank –0,9%. Bper Banking -1,9%. In sharp decline Banca Mediolanum -3,7% exit from the Ftse Mib basket. Azimuth -2%. He misses out Unicredit -1%: Frédéric Oudéa dismissed the hypothesis of an agreement with SocGen.
Among the industrialists it loses its shots Ferrari -3,2%. Pirelli -1%. It highlights Recordati +1,85%. The company also confirmed its 2018 targets and indicated for 2019 revenues between 1,43 and 1,45 billion, ebitda between 520 and 530 million, net profit between 330 and 335 million.
Out of the main basket:
Bag +13%, signed an agreement with the lending banks for early exit from the recovery plan pursuant to article 67 of the bankruptcy law.
Nice jumped by 42%, also due to the low free float, after the parent company Nice Group announced that it intends to delist the stock after purchasing 2,47% of the capital and having risen to over 90%.
