Another difficult day for the banks in Piazza Affari. The Ftse Mib lost more than 1% at the end of the morning after a timid rise, and drops below 17.000 points again. Some banks are once again suffering the most, protagonists of the ups and downs (but above all of the sharp declines) of the last few weeks: Banco Popolare and Unicredit are, before noon, in the group of the worst blue chips on the Milanese list with losses of around 4% , with the second ending up suspended due to a volatility auction while it lost almost 4% by revising the 3 euro per share. Unipol and UnipolSai were also suspended due to reductions.
But today is the day of accounts and above all of new business plan di Telecom Italy, which at the moment has not escaped the wave of declines and indeed becomes the worst stock in the Ftse Mib, losing more than 4% to 0,8385 euros. Ebitda and turnover are down in 2015, but the group is aiming for 12 billion euros of investments between now and 2018, a large part of which in innovation (especially in optical fiber). The press conference in London is scheduled for 16,30 Italian time. Fiat Chrysler falls, -2,03% despite the growth in sales of four-wheelers (+6,2%) in January on the European market. Out of the main basket, the surge of Banca Intermobiliare, +8,61% after the rumors about the interest from Banca Fideuram.
The other European lists are not doing much better either: London floats on parity, Paris loses little while sales on the Frankfurt Stock Exchange are accentuated, after the confidence of German entrepreneurs dropped sharply in February. The Zew index collapses in February to 1 point, from 10,2 in January: the figure is significantly lower than market expectations, which expected a decrease of around 3 points. The current situation index fell to 52,3 from 59,7 in December. According to the interviewees, the weakness of the global economy and the decline in oil prices weigh on confidence, but there are also concerns about the weakness of the credit sector which has brought bank stocks to their knees.
At the end of the morning, the only stock clearly in positive territory in Piazza Affari is Saipem, on a day when oil is catching up. Today the oil ministers of Russia, Saudi Arabia, Qatar and Venezuela, four global giants, reached a agreement to freeze production of crude oil at January levels. Mohammad bin Saleh al-Sada said during a press conference that this initiative will stabilize the crude oil market. Brent, which was up 5,2% in the early morning, has reduced momentum and is now up 2% to $34. Wti at $32,29. Eni canceled the rise and fell by 0,2%. Tenaris -0,6%. spread slightly rising: around noon it regains 140 basis points. Euro stable against the US currency: today it is worth around 1,118 dollars.
