Banks and Mediaset cripple Piazza Affari (-0,6%) two days before the ECB

The growth in unemployment, especially among young people, and the uncertainty about the ECB's moves, also in view of possible American mega-fines on European banking groups, are weighing on credit stocks, with the exception of MPS – especially Banco Popolare, Azimut and Mediobanca in decline – Mediaset drop for the battle on Spanish pay TV – Enel Gp does well

DEFLATION SCARES THE BAGS
BANKS IN DECLINE, ONLY EGP SHINES

Il ghost of deflation it wanders around the European lists together with the unpleasant feeling that the ECB is preparing to move with a guilty delay.

I consumer prices in the euro zone they rose less than economists' expectations in May, the increase was 0,5%, slowing down from the +0,7% in April, the consensus was expecting an increase of 0,6%.

In Milan the Ftse Mib index closed down by 0,64% at 21656.

Smaller the decrease in Paris -0,27%, Frankfurt -0,31% and London -0,49%. Madrid -0,46%.

The euro is trading at 1,363 against the dollar, from 1,359 at yesterday's close.

The BTP weakens and its yield rises by one basis point to 2,99%, the spread with the Bund widens to 158 basis points (+1 basis point).

Wall Street is little moved after the publication of a macroeconomic data which shows another sign of the vitality of the US economy. Dow Jones Index -0,2%, S&P500 Index -0,3% and Nasdaq Index +0,1%.

At Piazza Affari Enel Green Power shines up 1% after the United States Environmental Protection Agency (EPA) released the first guidelines of the White House agenda on the greenhouse effect over the weekend.

Enel loses 0,7%.

Eni salt by 0,6%, Saipem -0,1%.

Between banks only Monte dei Paschi closes up 0,3%. Banca Popolare Milano -1,5%.

Heavy loss of Banco Popolare down 3%: Nomura lowered its rating to Neutral from Buy, the target price is 13,4 euros.

Ubi -1,6%, Unicredit -0,4% and Intesa -1,2% are also in negative territory. Banca Popolare Milano -1,5%.

"To date there is nothing with Sondrio or with other banks", said CCreval CEO Mino Fiordi in reference to recent press rumors, which spoke of the birth of a banking center in Valtellina with the merger between Creval and Pop Sondrio.

Both are losing share among the industrialists Fiat -1% that Pirelli -1,5%.

Campari is down 2% after Goldman Sachs cut it to Sell from Neutral.

Negative opinion of Goldman Sachs also on WorldDutyFree -2%: the investment bank removed the stock from its Conviction Buy List, while confirming the Buy recommendation and the target price of 13,2 euro.

Buzzi Unicem, on the other hand, rises +0,5%: Sanford Bernstein has raised the rating to Outperform from Market Perform, the target price is 8,21 euro.