THE S&P EFFECT ON BANKS IS HOLDING BACK BUSINESS BUT CONFIDENCE GROWS IN ITALY AND GERMANY
On the seventh day, as the Bible dictates, Taurus also adjusts to rest. And so, after six consecutive increases, Piazza Affari, like the other price lists of the Old Continent, pulls the oars in the boat.
In Milan the Ftse Mib index lost 0,84% to 16.304.
Similar reductions for London -1,06% and Paris -0,88%. Frankfurt is down by 1,13%. Madrid limits damages -0,17%.
The two worst European blue chips are Basf -4% and Abb -4,2%.
Yet the morning was marked by new confirmations on the improvement of the economic situation in the Eurozone.
Unemployment in Spain fell for the first time in two years and the consumer confidence index rose more than expected in Italy.
The Ifo index of expectations of German managers and investors also beat expectations.
Gold deflates after the recent rises, in two sessions it lost 3% and changed hands at 1.312 dollars.
The Bund Btp spread is unchanged at 271 basis points.
S&P downgrade weighs on banks: Ubi -3,48% Banco Popolare -3,24% Banca Popolare dell'Emilia Romagna -4,13%.
Banca Popolare di Milano -2,5%. Today the Bank will present the outcome of the long inspection completed in May, thus giving indications on the future of the institution.
The Bigs saved from downgrading are saved. Unicredit -0,94% Understanding -1,42% and Mediobanca +0,66% .
Among industrialists, a sharp decline for Prysmian – 3.04%. The French Nexans, a company that operates in its same market segment, presented its quarterly data this morning and provided indications on the performance of the cable business. The stock loses 5%.
The others proceed in no particular order: Fiat -1% stm salt of 1,37%, Tenaris lose 1,79%, Saipem 1,97%. Pirelli also lost 1,85%.
Great anticipation for the board of Luxottica +0,25%. In the afternoon, with the markets closed, the eyewear group presents the data for the quarter.
The board of will also be held in the afternoon Azimuth, unchanged.
The system of funds is up for the sixth month in a row, even if the increase (2,5 billion) is much lower than the boom in May (8,7 billion). Since the beginning of the year, the balance is positive for 38 billion.
Telecom Italy -0,38%, given that the Agcom board will be called to give the first go-ahead for the network spin-off project.
