The European stock markets were negative at the opening of a week that is probably decisive for an agreement to support the EU's financial balance, starting with Italy where business pressure is growing to define the date for the recovery of activity. Meanwhile, the spread rises to 243 points (+6%) and the ten-year BTP yield to 1,89%. The expectation is growing for the review of the rating by S&P scheduled for Friday with closed exchanges.
And the pressure from companies of all sizes is also mounting to join the 105 companies which, according to Reuters, have received permission to continue their business from the prefectures. Austrian Economy Minister Gernot Bluemel this morning called for the European Union's state aid rules to be suspended for countries like Austria that have shown solidarity with member states hardest hit by the coronavirus pandemic, such as the 'Italy. But the willingness to increase and strengthen the maneuvers in support of the economies also comes from the ECB. Statements to this effect came from the governor of the French central bank, Francois Villeroy de Galhau.
The markets lose momentum at the end of the morning awaiting the decisions of Brussels: Piazza Affari -0,7%, Frankfurt - 0,6%. Paris -0,8% and Madrid -1,6% are also in the red. London-0,70%.
Continue Texas oil landslide: the Wti marks a drop of -28% to 14 dollars a barrel. Last week the loss was 20%. Brent oil from the North Sea marks a drop of only 2,7% to 27,3 dollars. In North America, stocks are full, or nearly so. Eni falls by -3,3%. Saipem -2,10%. Down too Saras -2,54% which revoked the distribution of the dividend.
Go back up Diasorin +4,3% which has obtained the CE mark for its serological test and is ready to submit the test to the FDA for approval for the US territory. The test will be available on 5.000 platforms installed worldwide in leading hospitals. Diasorin is increasing its test production capacity in the Group's main industrial center in Saluggia.
Some industrial stocks contribute to supporting the market: They splash upwards Amplifon +6,5%, Buzzi +4,5% and Cnh Industrial +3,15% .
They also advance Pirelli +1,4%, Fiat Chrysler +0,2%, Recordati +0,7%. Increase for Tim +0,3%. The company has asked a dozen banks for a 1,5 billion loan, structured as a bridge loan which at maturity (12 months, extendable by 6 months plus another 6 months) will be replaced by refinancing with a bond. The market conditions are particularly advantageous.
In negative ground they appear Nexi –2,9%, Campari. 2,7% and Ferrari -1,8%.
Among the banks holds Ubi +0,4% which is working on an alliance with Credit Agricole in some banking sectors, including managed savings, bancassurance and consumer credit. Weak Unicredit -0,4%. The Financial Times reports this morning of a proposal for a European bad bank put forward by the ECB to the European Commission, that he would say no. But the negotiations continue.
