Closing in red for all European lists, while Wall Street takes a breath from the records and, halfway through the session, is still traveling in negative territory. For the Dow Jones yesterday was the tenth top in a row, the longest streak since 1987.
Piazza Affari stops at -1,18%, 18.596 points, with Saipem falling after the 2016 accounts and financials under pressure. Frankfurt is worse -1,2%, followed by Paris -0,94%. Fractional discounts for London -0,38% and Madrid -0,42%. European shareholders are penalized by bank stocks and the drop in chemicals (BASF -2,88%), but also unnerved by the imminent elections in Holland and France and by political uncertainty in Italy.
The spread of the ten-year BTP against the Bund remains around 200 points, at 197,60 (+1,07%), even if the yield drops slightly compared to yesterday evening to 2,18%. The euro-dollar exchange rate has not moved much, while the yen continues to appreciate, as a safe haven currency in a phase with many uncertainties both on the European and on the US front. There is anticipation for President Donald Trump's speech to Congress next Tuesday following Treasury Secretary Steven Mnuchin's announcement of a plan to cut tax rates in August, a disappointing timing for traders. In this context gold is advancing +0,59%, 1256,71 dollars an ounce. Brent decreases -0,74%, 56,4 dollars a barrel.
Leonardo stands out among the Big Caps in Milan, +3,81%, which receives a promotion of the 2017-2021 business plan and the 2016 preliminary accounts, better than expected both for Ebita and for net financial debt. Positive Enel +0,65%, Luxottica +0,26%, Recordati +0,44%, A2a +0,63%. Italgas floats.
The rest of the main basket, on the other hand, is leaking. The worst stock is Saipem -6,8%, which is weighed down by the failure to achieve the 2016 guidance and the prospects in terms of order backlog. According to Mediobanca analysts, among other things, Saipem's stock market prices could incorporate "too optimistic expectations on the recovery of investments in the global oil sector".
The financial sector was in deep red, with Banco Bpm down by 6,65%, Ubi -2,48%, Mediobanca -2,81%, Banca Mediolanum -2,53%. Unicredit also slipped by 2,25%, despite the positive closure of the capital increase. Heavy session for Intesa, -2,26%.
Male Buzzi -2,32%; Fiat -3,15%; Brembo -2,34%.
Mediaset loses 1,34%, while the times of a tug of war with Vivendi (-3,94% on the Paris market) could lengthen. It is today's news that, following the complaint in the public prosecutor's office of the Biscione, on the takeover attempt by the French, the president Vicent Bollorè and the CEO Arnaud De Puyfontaine, are under investigation for insider trading. Meanwhile, Minister Carlo Calenda announces a tightening of the rules on takeover bids.
Finally, among the Mid Caps, Salini Impregilo should be noted: + 4,96%, after the accounts that exceeded the 2016 objectives and the prospects for orders in the USA.
