European stock markets move in troubled waters after the result of the british elections has not established a sure winner, just days before the start of Brexit negotiations. "We don't know when the discussions will begin, we only know when they will have to end: do your best to avoid a 'no-deal'" tweeted EU President Donald Tusk.
In Piazza Affari, after a euphoric start, the index Ftse Mib is just below parity: -0,3% just below 21 points. The collapse of the pound, which lost 2% against the dollar to 1,269 and retreated by 1,9% against the euro to 1,132 (from 1,155), allowed the London index to rise (in devalued pounds): +0,66, 0,18%. Gains of around half a percentage point for Paris, awaiting Emmanuel Macron's victory in Sunday's legislative elections, and Frankfurt: the outcome of the British vote (together with Donald Trump's difficulties) is an indirect bonus for Angela Merkel. Madrid -XNUMX%: Catalonia will hold a referendum on secession from Spain on XNUMX October. For Madrid, consultation is illegal.
In terms of markets, the following should also be noted:
Slight recovery of the dollar. The euro/dollar exchange rate falls to 1,119, after statements by Mario Draghi, who underlined that inflation expectations in the Eurozone remain weak.
Oil slightly down with Brent at 47,7 dollars a barrel (-0,2%). Gold fell 0,2% to $1.275 an ounce.
The ten-year BTP starts again well this morning too. Yield to 2,11% from 2,16% with Bund spread at 185 basis points.
Banks worsen after a sprint start: the sector index at 13 pm shows -0.55%. However, it remains prominent Ubi +3,88%: the capital increase of approximately 400 million will start on 12 June, with the offer of 6 new shares for every 35 held at the subscription price of 2,395 euros, with a 26,1% discount on the Terp. Equita promoted the judgment to Buy.
Unicredit, after a successful start, it moves back1,06%: Norges Bank entered the capital with 3,1%. Understanding -0,62%, Bpm bank -1,08%.
Unchanged Generali -0,04% , Unipol -0,55%.
Among industrial stocks, it earns stm +1,7%, the Sox index of US semiconductors yesterday pushed itself to the tops since 2000.
Cnh Industrial +1,3%, Fiat-Chrysler – 0,1%.
Down Enel -1,30% and Telecom Italy -0,96%
The negative note concerns Campari -2,84%: an important shareholder, not yet identified, yesterday sold about 2% of the capital through an Accelerated book building. The sale took place with a discount of 2,75-3,75% on yesterday's closing price.
