The massive sell-off in bank stocks is holding back Business Square which closed flat, -0,03%, 19.165 points, at the bottom of the European lists. The prospect of a recovery in the sector that seems to never end weighs heavily, following the requests of the ECB to increase coverage up to fully write down the stock of non-performing loans albeit with different times from institution to institution by 2026. According to Mediobanca Securities, the impact on the Italian banking system would be around 18 billion a year of further write-downs. The flight from the banks is partly counteracted by the purchases on the Agnelli galaxy. In particular, everyone continues to go crazy for the Juventus, +7,19%, which has already gained around 30% since its debut on the main list.
The rest of Europe is up, thanks to the good performance of Wall Street: Frankfurt 0,33% salt; Paris +0,49%; Madrid +0,36%. London archives session in excellent mood, +0,6%, awaiting the vote on the agreement signed by Theresa May with the EU on Brexit. A rejection seems probable, but future scenarios will depend on how resounding the no likely to be expressed by the House of Commons.
In the meantime they make you think the words of Mario Draghi, president of the ECB, to the European Parliament: "Global challenges can only be faced together: it is this union that enhances the ability of individual countries to maintain sovereignty on relevant issues, a sovereignty that would otherwise be lost in this global world".
Wall Street, after an opening in no particular order, it is positive, looking at the new stimuli that the Chinese authorities are considering putting in place against the slowdown of the economy and the leap of Netflix which pushes the Nasdaq (+1,5% at the moment) , two elements that overshadow the disappointing results of JPMorgan and Wells Fargo.
THEeuro it is down against the dollar, in the 1,139 area. The Petroleum, Brent +1,42% to 59,83 dollars a barrel. Gold down slightly to 1289 dollars an ounce.
On the Ftse Mib the list of worst stocks is led by where -4,97%, with Bper -4,74% and Bpm bank -4,13%. Out of the main list Mount Paschi its dizzying fall continues, -7,65% (for a value of 1,25 euros per share). The 5 Stars and Deputy Prime Minister Matteo Salvini are throwing themselves against Frankfurt's requests, who speaks of "intervention with a straight leg". A "new attack by the ECB on the Italian banking system and MPS".
Male Unipol -4,45% and Leonardo -3,76%.
The signings pour into Juventus, fca +2,12%; Ferrari +1,99% (according to Bernstein the stock is expensive, but the company's results never disappoint); Cnh +1,84%. It stands out among the oil companies Saipem + 1,6%.
Bonds stop in the red: the 2,87-year yield rises to XNUMX% and lo spread with the Bund it grows to 266.30 basis points (+1,52). Meanwhile, the new 15-year BTP is taking shape and Reuters writes that about 70% of the demand comes from foreign investors, the vast majority from Europe.
During the day Bankitalia informs that Italian public debt reached a new record in November: 2.345,3 billion, with an increase of 10,2 billion compared to the previous month.
