ARM Wrestling WITH ATHENS DOESN'T SCARE THE BAGS. GOOD BANKS, THE FIAT CHRYSLER RALLY DOESN'T STOP
The European stock exchanges closed on positive ground after a day dominated by the confrontation between Greece and Germany and by the sharp and sudden drop in oil prices.
Piazza Affari closed the negotiations up by 0,60% to 21.789 points, while Frankfurt rose by 0,37%, Paris by 0,71%, Madrid by 0,97%. Best of all, Stene's stock is surprisingly up 1,06%. Only London lost 0,13%.
After falling below the threshold of 120 basis points during the day, the spread between the BTP and the Bund closed at 121 basis points and the domestic 1,60-year yield at XNUMX%.
Despite the German no ("lack of precise commitments") to the Greek request to extend the financing plan guaranteed by the ECB and the IMF, the markets are betting on an extrmis agreement in the meeting that will begin tomorrow at 15 pm. Wall Street is little moved: S&P 500 -0,1%, Nasdaq and Dow Jones -0,2%. Oil plunges (-3,8%) after the increase in US inventories. Exxon falls -1%. Wal-Mart down 2,5% after operating results.
In Piazza Affari, Eni remains unchanged. Down the other oil companies: Saipem -1,5%, Tenaris -4,1% after the announcement of the results. The banks are doing well: Monte Paschi accelerates +4,7%, followed by Banco Popolare +1,4% and Unicredit +1,2%. The other Popolari, led by Bper +4,1%, are on positive ground.
Telecom Italia, on the other hand, had a negative session -1,2% while the board meeting is in progress. Fiat Chrysler still rallying +4,1% supported by the Exane report. Exor +2,2% and Cnh Industrial +.19% also performed well. Pirelli also did well in the automotive sector +1,2%.
