The banks of Piazza Affari and the Ftse Eb he opens the month of September hopefully, closing the first session up by 0,62%, at 20.395 points.
Il judgment by Fitch, arrived on Friday with markets closed, (the rating remained BBB, but the outlook changed from 'stable' to 'negative') had probably already been priced in by the market. Today the spread between Italian and German ten-year bonds falls by 1,62%, to 282.20 basis points, while the yield reaches 3,19%.
Reuters writes that Economy Minister Giovanni Tria is pushing Lega and M5s to keep net debt below 2% of GDP in 2019. Meanwhile, Prime Minister Matteo Salvini says that the budget law "will respect all rules and will make Italians pay less taxes”. The choices will weigh heavily on the future, also in view of the forthcoming judgments on Italy: that of Standard & Poor's (on 26 October) and the fearsome one by Moody's on 31 October, which has already put Italy under observation for a possible downgrade.
The other European lists stop in no particular order, lacking the compass of Wall Street, closed for Labor Day. They are down slightly Frankfurt -0,14% and Madrid -0,2%; moderately positive Paris +0,13%. It asserts itself vigorously London, +0,97%, supported by the drop in the pound, due to the problems related to Brexit.
On the monetary front, the negative phase of the Turkish lira and the argentine peso (inflation in Buenos Aires approaches 18%), while theeuro it is generally well tuned. The exchange rate between the single currency and the dollar is around 1,162 despite confirmations of a slowdown in the eurozone economy. In particular, the manufacturing activity slows down and the PMI index falls in August to a minimum of 21 months at 54,6 from 55,1 in July. In Italy it hits a two-year low of 50,1, close to the boundary between expansion and recession.
Among the raw materials, salt Petroleum, Brent $78,07 a barrel, +0,55%. Gold drops to $120,95 an ounce.
Returning to Piazza Affari, three banks are competing for the podium: Ubi + 3,03% Mediobanca +2,77%; Understanding +2,04%. Well Post +1,69%; Generali +1,67%. Bucking Azimuth -1,24%. Sales prevail over Pirelli -1,1% Prysmian -0,5% Enel -0,4% stm -0,28%. positive Eni, +0,65%, despite the chaos in Libya.
