After the launch of the ballistic missile over Japan by Pyongyang, "all options are on the table" warns US President Donald Trump. International tension grows, the dollar remains weak and European stock markets close in the red. Milan suffers particularly, with all the blue chips down and losing 1,46%, falling to 21,408 points. Frankfurt was also weak -1,46%; Paris -0,94%; London -0,87%; Madrid -0,91%.
Wall Street, after a negative start, is currently moving slightly higher. Banks and stocks like Nike are under pressure, but defense stocks and those of gold producers rise. The noble metal attracts investors looking for safe havens and travels above 1.317 dollars an ounce. The dollar is losing ground against the euro, but even more against the yen and the Swiss franc. The cross between the single currency and the greenback remains above the 1,2% threshold. While awaiting geopolitical developments, America is also monitoring the effect of Harvey, the tropical storm that caused catastrophic flooding in Texas, the nerve center of the continental energy sector. Oil is volatile, even as Saudi Arabia and Russia press to extend an agreement to cut crude output by another three months. Brent -0,45% 51,19 dollars a barrel.
In bonds, the 10-year Italian BTP slightly adjusts its yield to 2,07% from yesterday's 2,09%, but the spread with the Bund widens, due to the attractiveness of the latter, in a phase of risk aversion: 172.80 points, +1,05%.
In Piazza Affari, sales mainly affect Mediaset -3,8%, which suffers from the difficult day in the sector, due to the weak indications on advertising sales by the German Prosiebensat. The collapse of the Spanish subsidiary Mediaset Espana also weighs heavily, as it lacks the support of the treasury share buyback program that has just been completed.
Telecom Italia is in the wake -2,7%, while Bernstein lowers the judgment to "neutral". Sitting in deep red for banks, led downwards by Banco Bpm, -3,8%, well bought in recent days. Asset management down with Banca Generali -3,16% and Azimut -2,43%. Among the worst stocks Saipem, -3,66%, after the recent recoveries.
In the storm, shares such as Snam remain quite firm, -0,4%; Recordati -0,4%, Eni -0,15%; A2a -0,43% and Post Office -0,57%.
In the FCA galaxy (-1,53%), Exor sinks -2,64%, partly penalized by fears about the economic impacts of the Harvey storm on the American subsidiary PartnerRe. The industry as a whole is under pressure over the premiums insurance and reinsurance groups could pay after the hurricane passed.
Atlantia limits the damages to 1,26%, even if the rumors continue on Acs' strategies to conquer Abertis keep investors alert. According to the Expansion newspaper, the company led by Florentino Perez would like to include some Chinese funds in the offer, including Ying Zhan Investment Limited.
