It remains in negative territory Business Square in the middle of the day, after yesterday's exploit which in an instant had swept away the tensions linked to the forthcoming decisions of the Federal Reserve: the economies of China, the USA and above all Europe (but not Italy) are growing again, but on this Friday of the end of August is not enough for the markets.
It will be above all due to profit-taking after yesterday's boom (Finmeccanica above all), but the Milan Stock Exchange recorded -0,7% at midday, dragged down mainly by Diasorin to -3,43%, after an August on the crest of the wave which brought the value of the share to the highest levels of the year above 32 euro.
The banking sector also suffers: Mediobanca -2,7%, Ubi Banca -2,46%, Intesa Sanpaolo -1,91%, Unicredit -0,7%; only Mps travels around parity waiting for clearings on the Foundation. Waiting for important news too Telecom Italy, which reawakens after a decline that lasted from August 16, i.e. from the reopening of Piazza Affari after the mid-August break. From that day to today's opening, the stock had lost more than 6%, bringing it back to its historic lows, today – in a sluggish market – the group led by Franco Bernabé is up 0,7% to 0,49 euros, after still opening in the red. The telecommunications stock is shaken by the usual expectation of news both on the spin-off of the network and on the risk of telecommunications in Europe, which flared up after the takeover bid by Carlos Slim on the Dutch Kpn.
But the best headline of the morning is Parmalat (+1,05%), following the rumors reported yesterday by the Brazilian newspaper Valor Economico according to which Parmalat is negotiating for a stake in Lacteos Brasil, the same company that in 2011 was ready to challenge Lactalis, which later became the majority shareholder, for conquer Collecchio. The operation should be worth around 300 million euros, and is currently convincing the shareholders.
Stable in the meantime BTP-Bund spread below the threshold of 240 basis points, while the euro is not affected by the statements of the German Finance Minister Wolfgang Schaeuble either and is confirmed at around 1,33 dollars. Schaeuble had announced in the morning rising interest rates and new support for Greece, albeit in a reduced version.
