Interlocutory day for the world stock exchanges, with a positive intonation in Asia and basically negative in Europe and the United States. There is still expectations on the future of Deutsche Bank and the fact that the Frankfurt square was closed for holidays keeps the markets in uncertainty. In the misty climate Milan records the worst continental performance and the FTSE Mib closes at -0,77%, Madrid and Paris are also declining, while London grows by one percentage point and celebrates a new-found impetus in manufacturing, whose index rose in September to its highest level for about two years. Athens also did well: +0,83%.
In Piazza Affari, once again the bankers are making good times and bad times and the issue remains hot on the political agenda, so much so that today Minister Carlo Padoan convened the top management of Unicredit, Intesa and Ubi, a meeting with the governor Ignazio Visco and to the representatives of Acri, Abi and Fondo Atlante. An opportunity to discuss restructuring and prospects, but also to analyze the hottest dossiers, the sale of the four good banks created by Etruria, Banca Marche and Casse di Chieti and Ferrara and the future of Mps. The operation between Ubi Banca and the good banks is certainly not concluded: "I don't know if it will take place, it doesn't just depend on us - says Andrea Moltrasio, chairman of the supervisory board of Ubi Banca - in our mission we have no rescue, if we can lend a hand to the system from an organizational and industrial point of view in the interest of our shareholders, we will do it”.
In particular, today it is the big banks that are dragging down the price list, Intesa Sanpaolo -2,33%; Unicredit -1,93%, plus Bper -2,29%; but on the credit front there are also some of the most effervescent securities, such as Banca Popolare di Milano +3,22% and Banco Popolare +0,86%. The day shines for Azimut +4,2%, thanks to the completion of the internal reorganization and the extraordinary dividend of one euro per share; session to forget instead for A2a which leaves 4,1% in the field. Among the worst stocks also Luxottica -3,10%. In positive territory instead Fiat Chrysler Automobiles +1,24%, just a few hours from the data on registrations in Italy. Meanwhile FCA announces that Alfa and Jeep drive sales in France and Spain.
Moving day on the publishing front, with the title of Sun 24 Hours which sinks further by 10,37%, despite the declarations of the president of Confindustria Vincenzo Boccia which promises: “We have to work on a major recovery and recovery plan. The dossier is among our priorities”.
Meanwhile Urbano Cairo officially takes the lead of RCS Media Group: the board of directors appointed him managing director, while Marilù Capparelli is lead independent director, pursuant to the Code of self-regulation
The cockpit of the editor of Corriere della Sera is now composed as follows: Control and Risk Committee, Stefania Petruccioli (president), Alessandra Dalmonte, Veronica Gava; Remuneration and Appointments Committee: Marilù Capparelli (Chairman), Diego Della Valle, Stefania Petruccioli.
Today also the Red shrimp has released its half-yearly data: net profit at 163 thousand euros, down 51% compared to the same period of 2015, while revenues increased by 7% to 7,8 million, the EBITDA by 7% to about 1,5, 19 million (ebitda margin 30%). Net debt at June 4 was 2,7 million, up by 2015 million compared to the end of 0,6 and down by 8,7 million compared to a year earlier. Shareholders' equity amounted to 0,2 million, up by 2015 million compared to the end of XNUMX.
To stay in the food area and surroundings, a curious and interesting piece of news: apparently the pigs turned out to be a bad investment, because the production is too much and the price inevitably goes down. Futures maturing in December hit 43,975 cents per pound on the Chicago Stock Exchange last week, the lowest since 2009. The contract lost a third of its value (-32 percent) in the last period of the year, the worst performer on the Bloomberg Commodity Index, which tracks the performance of 22 commodities.
To conclude the Hong Kong Stock Exchange it closed up 1,23%, reassured by last week's news on Deutsche Bank, according to which the fine should be lower than expected. Shanghai and Shenzen will be closed for the whole week for the National Day
Two days after the positive rebound le reassurances about the German giant however they are struggling to take root in the West: apparently 69% of Germans would be against a bailout, even if it is a systemic bank, while the Wall Street Journal claims that an agreement between the US Department of Justice and the DB is still far away.
The unknowns on the horizon remain many and add to the many political risks that weigh globally. Among these, the Fitch agency also registers the Italian constitutional referendum, defined, in the bimonthly report Global Economic Outlook, as a real “milestone” against populism.
