Takes flight business square, reassured by the decline in the spread, in line with what foreseen by Minister Giovanni Tria. The index +2,19% leapt past 20.900 with a much more lively performance than the other stock exchanges, albeit in positive territory: Frankfurt +0,4, Paris +0,5, Madrid +1,1%. London +0,37%.
Duties and emerging markets affect the mood of European investors, as emerges from the Sentix index which measures the confidence of operators in the euro area: in September it fell to 12 from 14,7 in August.
Under pressure from Apple's chip makers and suppliers like Dialog Semiconductor e ams after US President Donald Trump said the tech giant should move iPhone production to the US. stm -0,1%.
The manufacturer of the Cartier brand, Richemont increases by 1,5% after the appointment of Jerome Lambert as CEO and a 10% increase in sales over the last five months. The rival also rises Swatch + 0,8%.
Italy, on the other hand, benefits from debt purchases and the parallel recovery of the banking sector. On the eve of the mid-month auctions, the BTP is trading at a yield of 2,76%, ten points less than on Friday. The spread fell to 236 basis points, on the lows of the last four weeks. A report by Morgan Stanley recommends buying BOTs and BTPs ahead of the announcement of the budget law. Meanwhile, 5-year credit default swaps on Italian debt drop to their lowest in the last month. The cost of insuring Italian debt against default risk fell to 222 basis points from 227 at last Friday's close.
L'EUR travels at 1,154 on the dollar +0,2%. The Petroleum Brent is up 0,8% to 77,85 dollars a barrel.
Eni +0,5%. With the leap in production announced today from the Zohr field, Egypt becomes the leading hydrocarbon producing country. Among the utilities, Enel + 2,4% Snam + 2%.
The banking sector is in great effervescence, thanks also to the drop in the spread. But the upturn is favored by the rise in expectations of mergers, both in Italy and on a continental level. The banking sector benefits among other things from the declarations made yesterday on Bloomberg TV by Josef Ackermann, former CEO of Deutsche Bank, according to which Europe needs a merger between banks (see the same Deutsche Bank + 0,11% Commerzbank +2,2%) to create a regional giant.
At Piazza Affari it takes off Mediobanca +5,8% despite Unicredit +4,8% does not seem willing to give early termination of the agreement. Bpm bank + 4,97%. Intesa Sanpaolo + 5,08%. Monte Paschi Bank + 8%.
Tim +3,2% while the conflict between shareholders heats up. This morning Elliott replied to Vivendi's lunge. "After Vivendi had control of the company for years - she reads a note - she is now ready to question the work of the new board just 4 months after her appointment". “We are carrying out – it adds – a plan elaborated and promoted by Vivendi” and managed by Amos Genish, designated at the time by the French partner. But a three-way match looms over Sparkle that the current majority intends to give in against the government line, endorsed by Vivendi.
Fiat Chrysler -0,5%. Negotiations are proceeding with Kkr for the sale of Magneti Marelli, which could take place by the end of October.
Fly instead Leonardo +4,2% which exercised the pre-emption right on the purchase of 98,54% of Vitrociset, a company active in the supply of services for defense space activities and sensitive infrastructures. The economic value of the agreement has not been provided. Vitrociset, which has just under 900 employees, had a turnover of 2017 million in 163. On August 7, the other public company involved in defense activities,
Fincantieri, up 0,9%, had announced that it had reached an agreement, rendered ineffective today by Leonardo's pre-emption exercise, to acquire the shareholding of Vitrociset together with Mer Mec.
Out of the main basket, Astaldi -3,3%, marks a new historic low. Fitch downgraded to CCC.
In the Aim leap of Bio-on +5,33%, operator active in the new eco-sustainable chemistry, which has found a method to produce bioplastic also from frying oil.
