European stocks opened weak after Friday's plunge in tech stocks on Wall Street, which continued in Asia today. TO Business Square the Ftse Mib index dropped 0,6% in the middle of the session, around 21.000 points. The losses of the other lists are heavier: Paris -0,8% Frankfurt -0,9% Madrid -1,1%. London loses only 0,34%.
The Eurostoxx Tech index drops 2,2% and is the worst of this morning. The other sector indices moved little. stm (-7,3%) is the worst blue chip today in Piazza Affari with a price of 14,20 euros.
The yields of Italian government bonds are in sharp decline, with the Btp to 10 years which is up 2,02% from Friday's 2,08%. The spread with the Bund it drops to 176 basis points (-5 points), while that with Spain shrinks to 64 basis points from 69. The France/Germany spread drops to 35 basis points, the lowest level since November.
Il Tesoro fill up atbot auction and the yield reaches a new historic low. 6,5 billion euro of one-year bonds were placed while demand was close to 10,3 billion. Rates still down, with a drop of 5 basis points to the new all-time low of -0,351%.
THEeuro it strengthened against the dollar to 1,121, from 1,119 on Friday night. GBP flat with Theresa May's armchair increasingly at risk. Gold stable at 1.267 dollars an ounce. Oil recovering: Brent rises 0,5% to 48,3 dollars a barrel, last week it lost 3,6%. Eni increases by 1%: the CEO Claudio Descalzi declared that Versalis and the retail gas & power division are not for sale.
Saipem (+2,6%) is the best Italian blue chip. The president Paolo Andrea Colombo confirmed in an interview that the company intends to expand the area of activity pending the relaunch of the oil equipment sector. In particular, the focus will be on the construction of offshore wind farms and the dismantling of oil platforms no longer in use.
Financial Trevi, marks new lows since 2004 and extends the loss since the beginning of the year to -32%, largely underperforming the Stock Exchange (+10% the FtseMib) and the reference sectors.
After a positive start, supported by the drop in the spread and by the hypothesis of a system rescue for the two Venetian banks in crisis, the banking sector has taken the downward path: Unicredit -0,5% Understanding -0,6%.
Carige -3,34% after the revocation of the powers previously granted to Guido Bastianini in his capacity as managing director and general manager. The nomination committee should meet today to identify an internal manager to whom to entrust the role of general manager.
Ubi instead, it rises by 2% on the first day of the capital increase: the adjusted reference price is set at 3,358 euros. Banca Imi, Banco de Santander and Mediobanca have announced that they have entered the transaction as additional guarantors and cobookrunners together with Crédit Suisse.
Generali salt of 0,6%. FinecoBank +0,7%: Mediobanca raises its target price to 7 euros from 6 euros, confirmed as Neutral. Back off Ferrari (-2,75%) after failing to win the Canadian GP. Among other industrialists, Fiat Chrysler + 0,6% Cnh Industrial -2% Leonardo -0,6%.
Tackling utilities after Barclays industry report: Enel -0,4% (the broker raises the target price to 5,3 euro from 5 euro, Overweight confirmed); Snam +0,6% (target price at 4,8 euros from 4,6 euros, Overweight confirmed); Terna -0,5% (rating cut to Equal Wright by Overweight, but raises the target price to 5,1 euro from 4,9 euro).
Among the small caps, Cleansing (+4,82% at the opening) announced that yesterday evening the subsidiary Milano Santa Giulia and Lendlease Italy signed a joint venture agreement for the development in partnership of the South Lots (33.000 square meters of building areas adjacent to the Sky complex) .
Caltagirone jumped 20%, to 1,01 euros, after Friday evening Clear Finance, which belongs to the family, announced the takeover bid on the free float (40%) with a 19% premium.
