Negative start to the financial week, under the pressure of many emergencies: the winds of the trade war arriving from the USA - above all the new measures being studied by the Trump administration –, i conflicts over immigration three days after the European Council, the signs of a slowdown in the economy. The publication of the Ifo this morning confirmed the concerns, the German business confidence index slipped to 101,8 points; this is the sixth decline in seven months. The boom period of the German economy is over and Germany is now entering a more normal phase of growth, according to Ifo economist Klaus Wohlrabe. Furthermore, the survey, added the economist, does not take into account the recent difficulties with migrants.
Stock listings in red. Milano falls while in Piazza Affari the Ftse Mib index accelerates downwards (-1,40% below 21,600 points). Down too Frankfurt -1,24% like Madrid, Paris -0,8% Zurich -0,9%. Down too London- 0,90%.
It has also resumed spread run: 248 basis points, a record since June 11, compared to 237 cents at the end of Friday evening: the 2,762-year yield is 2,699% from XNUMX%.
The euro weakens against the dollar to 1,164. In the aftermath of Erdogan's first-round win in Türkiye, the lira appreciates by 1% against the euro to 5,40.
Il Brent oil it is down 1,7% to 74,3 dollars a barrel. The OPEC + Russia lineup, which met on Saturday, raised production by one million barrels a day. Saipem decreases by about 2%, Eni -0,9% Tenaris -1,2%.
In Piazza Affari he suffers a heavy fall Prysmian down 6,85%%, the worst stock on the list. Company cut its 2018 Ebitda estimate due to additional provisions of €50 million related to the laying of an undersea cable between Scotland and Wales. In light of the new charges, the estimates released two days earlier on 2018 adjusted Ebitda to 860-920 million were revised downwards. Previous estimates were between 910 and 970 million.
Widespread sales among banks. Understanding loses 2,13%: Reuters wrote that Blackrock wants 30% of Eurizon, but the Italian Bank does not offer more than 10-15%. Unicredit -1,80%: in the Financial Times an activist fund returns to the office for the conversion of cashes into ordinary shares.
B for Bank (-0,4%) concluded the sale of 900 million euro of non-performing loans at a value of 28,1%. Exposure to non-performing loans fell to 17,8%. Unipol bought other shares, is now 14,2%.
Monte Paschi Bank (-0,4%) definitively closed the sale of a portfolio of 24 billion euro of non-performing loans.
The stocks most linked to exports are heavy: stm -3,1% Cnh Industrial -2%.
Weak Tim (-0,3%) pending the today's board of directors expected to be very hot.
Utilities are in pale red. Enel (-0,9%) announced this morning that it has acquired 21% of Ufinet, a Latin American company active in the optical fiber business: expenditure, 150 million euros. There is the option to go up to 100%. Snam -0,5%: a new policy document on the subject of high pressure gas transportation was released over the weekend.
Cerved (-1%) communicated the terms of the industrial plan, within three years Ebitda should rise between 5% and 8,5%, accelerating compared to the previous plan.
Fincantieri -0,30%: the subsidiary Vard signed a new contract for the construction of three Norwegian coast guard vessels worth around 550 million.
Bucking Piaggio (+4%): KeplerCheuvreux ups the ante.
