The rebound of the banks in Piazza Affari has lost momentum after a bold start.
The FtseMib index first went negative, to then recover, now reaching +1,12% below 20 thousand points. Market volatility remains very high.
On the macro front, the stability of the Zew index on the German economy and the publication of the quarterly bulletin of the International Monetary Fund should be noted: for 2016, Italian growth is forecast at 1,3%, only 1,2% for 2017. Global growth will drop to 3,4%, from +3,6% in October due to the slowdown in emerging countries (+4,3%, revised estimate from the previous +4,5%. The cut is due to the slowdown of Brazil and Russia, while the estimates for China (+6,3%) and India (+7,5%) were confirmed.
The other European Stock Exchanges are largely positive: Paris rises by 2%, Frankfurt +1,9%, Madrid +1,6%. London also advanced by 1,7%.
Conditioning Piazza Affari is a new violent wave of sales on the banking sector which, however, does not affect Understanding +1,35% and believe +3,3%, saved from requests for exams by the ECB. As well as Mediobanca +1,21% while Ubi -1,83%.
Things are worse for the banks which have received from the European regulator a questionnaire on the situation of non-performing loans on the balance sheet and on the contingency plans to be triggered in the event of a deterioration in the asset quality indexes,
He suffers the most violent attack Mount Paschi -11,95% to 0,674 euros despite the ban on short selling and various suspensions during the morning. Close behind is Carige -10,38%, the other institution targeted by sales.
But it also collapses Banco Popolare -9,95%, one of the banks with the highest level of non-performing loans. In heavy decline also Bper -5,05% Less serious losses bpm -2,27%.
Under fire once again Unicredit– 4,09% at 3,99 euros, marking the lowest price in the last three years. Federico Ghizzoni's institute, after confirming that the European Central Bank has proposed an assessment (evaluation) on NPLs (performing loans) specified in a note that "compared to what was communicated on the occasion of the last quarterly (30 September 2015) therefore there is no element of novelty'”. At group level – he recalls – “gross non-performing loans amounted to 50,6 billion euro, down by around 3% compared to December 2014 and the coverage ratio was 61,4%. among the highest in Italy. Consequently, non-performing loans net of reserves amounted to 19,5 billion, down compared to December 2014”.
The index is supported by the recovery of oil, driven by the rise in crude oil: the price of Brent rose by 4% to 29,7 dollars.
Eni+ 2,6%. Tenaris earns 2,7%, Saipem 0,7%.
Sale Telecom Italy +4%. Second La Repubblica, yesterday a meeting was held between Matteo Renzi, the Minister of Economy Pier Carlo Padoan, the president of Cassa Depositi e Prestiti Claudio Costamagna and the general manager of the same company Fabio Gallia. To counter this hegemonic plan of the French operator, the government has apparently decided to focus on Xavier Niel, the French telecommunications entrepreneur and second shareholder of Telecom Italia.
in the rest of the list UnipolSai drops by 2,3%, penalized by the sharp downgrade of Goldman Sachs, which cut the rating to Neutral from Buy.
Fiat Chrysler salt of 1,2%, Ferrari + 2,8%Finmeccanica + 0,6% StM + 1,7%.
In luxury it shines Yoox + 3,2%. Ferragamo loses 0,3%, downgraded from Ubs to Sell.
