The European Stock Exchanges retreat on the wave of disappointing or disturbing indications. TO Milano the Ftse Mib index lost 0,2% to 21.350. Paris -0,37% Frankfurt -0,1% Madrid -0,41%. London is the worst, with a drop of 0,8%. The spread is at 136 basis points, the yield on the ten-year BTP is at 2,29%. The German index Sentix, which measures the sentiment of eurozone countries, slipped to lows.
Meanwhile polls signaling the advance of independence activists in Scotland cause a landslide for the GBP, on the fifth consecutive day of decline against the dollar, to 1,614 from 1,630 at the close, the lowest since November 2013.
The price of reference oil for Europe, Brent, falls for the first time below 100 dollars a barrel since June 2013, the future trades at 99,8 dollars a barrel. The Stoxx index of oil companies is down 1,1%. Eni -0,1%, Saipem -2%, Tenaris -1,5%.
In Milan, the banks slowed down after the impact of the judgments of Mediobanca Securities. The broker has raised the recommendation on EU banks to "outperform" in view of quantitative easing and the Comprehensive assessment (stress test plus asset quality review).
On the rise Banco Popolare (+ 0,8%) and Understanding (+0,2%) awarded by the institute. But if a promotion is expected for 24 banks, for 10, including Ps (-0,7%), the analysts of Mediobanca Securities anticipate a rejection or a "near rejection", meaning by this a positioning around the limit threshold of 5,5% of CET1 set by the regulators. The other banks at the limit are Banco Popular, Commerzbank, Lloyds, Caixa Bank, Nordea, Alpha Bank, Danske. RBS is the only European bank that fails the test.
Banca Popolare di Milano 0,1% salt, Banca Popolare dell'Emilia Romagna -0,3%. Slows Unicredit (-0,3%): the group is about to start an exclusive negotiation regarding a stake in Pioneer, the asset management subsidiary. There are also buyers for private equity assets.
Telecom Italy it rose by 1,8% due to the anticipations from Brazil on an offer on Tim Brasil with a premium of 20-25% compared to the stock market value.
In the basket of blue chips, Finmeccanica 0,5% salt, Fiat -0,1% Prysmian -0,1%, and Pirelli -0,1%. Among the luxury companies, Tod’s + 0,2%. sapphire rebounded 1,9%, but Berenberg downgraded his recommendation to Hold da Buy.
