Share

Oil bounces off the winds of war in Syria

The announced Turkish escalation pushes oil prices but for now it doesn't disturb the Stock Exchanges – Piazza Affari rises in the wake of Amplifon, Saipem, Poste Italiane and Ubi Banca.

Oil bounces off the winds of war in Syria

Start of the week in green for European stock markets, which close on the rise thanks to a lengthy afternoon, after Wall Street's out of tune opening bell due to fears about the new round of talks between the US and China, which will start again in the next few days in Washington. At the moment, however, even the US price lists have moved into positive territory. Frankfurt gains 0,71%; Paris +0,61%; Madrid +0,87%; London +0,63%. To record, for Brexit, the decision of the Court of Sessions of Edinburgh, the highest civil court of Scotland, according to which the British Prime Minister Boris Johnson is not obliged to obey the Benn Act and to ask the EU for a 3-month extension to leave.

Piazza Affari rises by 0,85% and reaches 21.652 points, thanks to the change of course of the banks and the recovering oil stocks, with the rise in crude oil prices after the news from the Syrian front, with Turkey ready to launch a military operation against Kurdish militias in the north of the country. Brent moves at 59,2 dollars per barrel (+1,4%). Queen of the Milanese price list is Amplifon +3,73%; good Recordati +1,39%. In the health sector, instead, Diasorin lost -0,66%. Among the oil stocks, Saipem +2,98% appreciates; Tenaris +1,17%; Eni +0,8%. Highlights Post Office +2,86%. In the banking world, Ubi +2,52% shines, at the center of the press hypothesis of aggregation with Bpm +1,53% and Mps -1%. Unipol up +1,51%; Buzzi +1,41%; Telecommunications +1,39%.

Sales are relatively modest and weaken Nexi -1,12%; Ferragamo -0,52%; Leonardo -0,48%; Ferraris -0,11%; A2a -0,09%. Outside the main basket, Bio On collapses and does not seem to have found the bottom yet: -19,77%, 6,86 euros per share. What weighs heavily is the confirmation that Consob has started comprehensive checks on the stock since the end of July after the strong negative positions taken by the US fund Quintessential The Commission wants to understand if we are dealing with a case of market abuse, i.e. market manipulation with the dissemination of news that impact on the performance of the stock.

Scivolone by Safilo, -9,72%, after the three-year renewal of the eyewear supply agreement for the Gucci brand, which belongs to the French luxury group Kering. An agreement that cools the speculation of a takeover by the French luxury giant. On the other hand, Aim debuted with a bang for Cyberoo, +47,90%, a company specialized in cyber security, which deals with the protection, monitoring and management of IT infrastructures. 

Bonds showed little change, with the spread between Italian and German ten-year bonds at 142 basis and the BTP yield slightly increasing to +0,84%. Today the Ministry of the Treasury announced that it has entrusted Barclays Bank, HSBC Bank and JP Morgan with the mandate to organize a Global Investor Call according to the possible multi-tranche issue of bonds denominated in dollars. The issue, the first for nine years now, could be done in the near future, depending on market conditions.

Euro-dollar around 1,0993, +0,15% for the single currency. Gold down to 1504,65 dollars an ounce (-0,55%).

comments