Closing in red for the European lists, while Wall Street accelerates downwards after a declining start of trading. The New York market, closed on Monday for public holidays, reacted negatively on Tuesday to the IMF's downward forecasts on world growth in Davos. The slowdown in China also weighs (+6,6% in 2018, the slowest step since 1990) and there are fears that relations with Beijing could sour following the developments in the Huawei case, holding back the process of approaching tariffs. Oil joins the general trend and sinks: Brent -2,66%, 61,07 dollars a barrel; Wti -3,16% 52,46 dollars a barrel.
Piazza Affari is the worst: -1,03%, 19.437 points. Banks are negative and Telecom undergoes another drain (-6,24%), reaching new all-time lows, in the wake of last Thursday's preliminaries, the rejection of the internal spin-off of the network by Agcom, the friction between shareholders Eliott and Vivendi. Swing session for Juventus, which in the end is the best title: +0,74%.
Frankfurt loses 0,41%; Paris -0,42%; Madrid -0,18%. London, -1,02%, sees Theresa May lost in the Brexit maze. Today the European Commission spokesman seems to be using the Spice Girls' most famous song (Wannabee) to understand what choices the British prime minister intends to pursue. “I'll tell you what I want/ What I really, really want/So tell me what you want/What you really, really want' that you really, really want).
The euro weakens against the pound (exchange rate around 0,876) and remains stable against the dollar, around 1,136.
Without major changes the Italian bond, despite IMF revised GDP growth of the country to 0,6% for 2019 (like Bank of Italy) and believes that the Italian financial situation represents a global risk. Furthermore, press sources write that on 7 February the EU Commission, by releasing growth forecasts for the various countries, will align its projection for Rome to 0,6% or will be even more cautious. While Merkel and Macron join hands in Aachen, by signing the Franco-German treaty, Prime Minister Conte tries to mend relations with his cousins across the Alps by writing that the relationship between Italy and France remains strong and firm. In this context: the 2,74-year yield is stable at 250.10%; the spread with the Bund is XNUMX basis points.
In Business Square the weakest stocks include banks, in particular Banco Bpm -2,69% and Unicredit -2,14%. Fractional losses for Mps -0,7%, which has given a mandate to a pool of banks for a covered bond. Unipol CEO Carlo Cimbri rules out a three-way combination that includes Mps, Unipol Banca and Bper. Always suspended Carige which, according to Il Sole 24 Ore, needs 200 million euros of new capital, in addition to the loan, signed by Fitd, for 320 million which will have to be renegotiated, to eliminate non-performing loans and attract a potential buyer in the future The alternative would be nationalization "which would burn a large part of private capital".
An encouragement to the system comes from Fitch, which does not see a significant impact for the Italian banks with the highest ratings from the new ECB guidance on NPLs.
Down Stm, -3,41% and Ferrari -2,07%.
There are only three titles in green on the main list. There Juventus +0,74%, Unipol +0,15%; Atlantia +0,35%.
