The European Stock Exchanges are marking time, today orphaned by Frankfurt closed for holidays. Piazza Affari falls by 0,3% just above 17.600 points. Paris -0,8% and Madrid -1,1% are also in negative ground. Outside the euro area London -0,2%.
Thanks to the production blackouts in Nigeria, the rise of oil continues, to its highest level since last November: the Brent it rose by 1,8% and reached new highs since November at 48,71 dollars a barrel, after gaining 5,4% last week.
The change euro dollar is stable on Friday's level at 1,131. Looking forward to the presentation in the afternoon of business plan of the bank that will arise from the merger between Bpm and Banco Popolare, Piazza Affari is enlivened by the new chapter of the match in Corriere della Sera.
Diego Della Valle (owner of 7,32% of the capital), Mediobanca (6,25%), UnipolSai (4,59%), Pirelli (4,43%) have reached an agreement with Andrea Bonomi's Investindustrial for the launch of a takeover bid on RCS at the price of 0,70 euro per share. The shares of the four shareholders (a total of 22,6% of the capital) will be contributed to a newco which, thanks to the fresh resources contributed by Bonomi, will launch the offer on the remaining approximately 77%. Investindustrial will control 45% of the company, 55% will be in the hands of the current four shareholders, divided into stakes of 13,75% each. The offer contrasts with that of Urbano Cairo, who instead proposed an exchange of shares at 0,52 at current values. Rcs Media Group shares, suspended in the morning, returned to trading at 12 with a leap of 30%.
Rising sharply Telecom Italy which earns 2,7%: the company has published a disappointing quarterly report but has raised its cost-cutting target between now and 2018 from 600 million euros to 1,8 billion. The market appreciates the commitment of the new CEO Flavio Cattaneo to improve profitability.
Still widespread declines in the banking sector. They go down Banco Popolare -2% e Pop Bank. Milan -1,6% while he sits on the board of directors for the approval of the industrial plan of the merger project. Intesa loses 2,1%, Unicredit -3%, Ubi -2,9%. Down UnipolSai -1,5% e General -0,7%. Sharp reduction of Soul -1,3%.
Sharp decline of Exor -4%: this morning Kepler-Cheuvreux downgraded the rating to Hold da Buy. Target price down to 32,5 euros from 34 euros. The finance company closed the first quarter with a net profit of 201,1 million euros from 40,6 million.
Fiat Chrysler drops by 2%, StM -0,8%, Leonard -0,4%. On the wave of the rise in oil, it is positive Eni +0,12%, Saipem -1,3%, tenaris +0,5%. Enel drops by 0,6%.
