Closing up for the main European lists, which appreciate the glimmers opened by Donald Trump in the war on tariffs and they look optimistically at the rebound of Wall Street, which is sailing today after closing yesterday the worst session of 2019.
Piazza Affari rose by 1,45%, to 20.892 points, driven by Prysmian +7,18%, thanks to better-than-expected quarterly results and the confirmation of estimates for the current year. Unicredit instead leaves the field 1,69% following new rumors on the possibility of a purchase of Commerzbank (+4,7% in Frankfurt). “Unicredit mandated Lazard and JPMorgan for one possible offer on Commerzbank, according to three sources familiar with the situation,” writes Reuters. Contrast the other banks, with the sector in general concerned by the rise in the spread: the ten-year yield is 2,74% and the differential with the German Bund rises to 280.70 basis points (+1,7%).
The final is below the highs of the session (the spread had reached 284) but remains up compared to yesterday's closing. The Italian paper suffers from the fears linked to the risk that trade tariffs damage the global economy, because the first to jump are always the weak links, but the words of Deputy Prime Minister Matteo Salvini also suffer, who, from Verona, returns to the European budget constraints, saying that the government is ready to exceed the ceiling on deficit and debt to bring down unemployment.
In the rest of Europe: Paris +1,5%; London +1,08%; Madrid +0,82%. Well Frankfurt, +0,92%, even if Bayer dropped 2,09% following an Oakland jury ruling, in California, which ordered the German group to pay $2,055 billion to a couple who used Roundup for more than 30 years and contracted cancer.
Wall Street moves in tune with technology and industry. Uber fetches something (+2,18%), after having lost a lot in the first two sessions. Last Friday, at its debut, the company was worth 69,7 billion, now the capitalization is around 63,3 billion.
President Donald Trump sparks hopes on tariffs in a series of tweets about his forthcoming meeting with the Chinese leader at the G20 in Japan, but also returns to the Federal Reserve's attack: “China will inject money into its system and probably cut rates, as always, to compensate for the business it is losing and will lose. If the Federal Reserve ever does the same, it's game over, we win! In any case, China wants a deal!”.
Euro-dollar slightly unfavorable to the single currency, with the change that moves in area 1,121. Oil on the rise: Brent +1,61%, 71,36 dollars a barrel; Wti +1,51%, 61,96 dollars a barrel. Gold takes a breath, moving beyond 1294 dollars an ounce.
Among the blue chips of Piazza Affari, Stm stands out positively, +6,68%, in great recovery from the recent losses; Unipol, +4,48%, following the plan to 2021; Amplifon +4,17%; Azimuth +3,99%; Ferrari +3,31%.
Only four stocks stop on the more slippery side of the list: together with Unicredit there are Telecom, -0,94%; Campari -0,76%, which announced the sale of 0,6% of the capital by company employees after the exercise of stock options; Bench Bpm -0,76%.
