WALL STREET NERVOUSNESS SCARES EUROPE
CAMFIN COLLAPSES, PIRELLI BRAKES. MPS BOUNCE
Goes down Wall Street, all European stock exchanges slide into the red.
At Piazza Affari the FtseMib index, after fluctuating around parity with measured incursions, slipped into decidedly negative ground: -0,96%, breaking the threshold of 17 thousand points at 16971.
Sul government bond market, the 10-year Btp is trading at a yield of 4,1%, the spread rises to 257 basis points (+3 basis points) The drop is strongest in London -1,88%, followed by Paris -1,56% ) and Frankfurt 1,09%.
Thus the nervousness of investors rises in view of the employment data in America on Friday, which could affect the Fed's monetary policy choices. Even if today's data are of uncertain reading.
In May, according to the Adp index which detects the trend of employment in the private sector, employment in the USA has grown by 135 units, against the 165 expected. This is negative news, but it does not push the prospect of an imminent cut far enough away in the eyes of the markets of purchases by the Fed. As well as other negative data on the macro front: productivity in the first quarter grew less than expected while labor costs recorded the greatest decline since 1947. The S&P index fell by 0,3%, Dow Jones -0,4, 0,2%, Nasdaq -XNUMX%.
In Piazza Affari, the arrangement of the Malacalza-Tronchetti divorce.
Pirelli -1,23%, of which from today Malacalza is the second shareholder with 7% behind Camfin, was at the center of a spectacular ups and downs, first upwards, then downwards throughout the day. However, the stock is strong in the speculative appeal linked to the probable early termination of the Bicocca pact. The governance pact of Lauro 61, the newco into which Camfin has merged, explicitly speaks of the "progressive increase in contestability" of the subsidiaries, starting with Bicocca.
Much more marked the Camfin flexion –7,36% at 0,7930, aligned just below the price (0,80 euro) of the next takeover bid to be launched by Mtp together with Clessidra, Unicredit, Intesa Sanpaolo, Acutis and Rovati, all united in Lauro Sessantuno , the holding company that already owns 61% of Camfin.
Among industrial stocks, they go up Fiat + 1,69% Fiat Industrial + 0,34%.
Today the US Treasury puts 30 million General Motors shares up for sale, part of the stock accumulated at the time of the Detroit bailout. In parallel, 20 million securities in the hands of the Uaw union pension fund are also being auctioned. In view of a possible Chrysler IPO, it will be interesting to check the price obtained by GM.
Bene Ansaldo StS +1,42% and Finmeccanica + 1,15%.
The appreciation of the market for the Indesit which rises by 3,68%. The company unveiled its expected corporate reorganization plan yesterday and broker Kepler-Cheuvreux raised its recommendation to “buy” from “hold” this morning.
A2A stands out among the utilities +1,07%: the general manager Renato Ravanelli, confirms that the new environmental pole will start on July 1,82st. Enel loses 2%. The Spanish subsidiary Endesa falls by XNUMX% after the American broker Berenberg cut the judgment to "hold" from "buy".
Eni loses 1,87%. Telecom Italia loses -0,26%. The board of directors, who met for about five hours, 'during today's meeting did not examine the integration operation with 3 Italia, postponing the discussion to a forthcoming meeting'. Thus said the TLC company in a brief press release after the council
Among the banks it shows off MontePaschi up 4,38%. Unicredit rises by 0,51%, Intesa falls by 1,66%. Banca Pop.Milano loses 2,63%.
Among the insurance Generali down 0,9%, Fondiaria -0,49%. Unipol gains 1,5%.
