Piazza Affari slows down under the weight of tensions in the banking sector. At the end of the morning the Ftse Mib falls by 0,40%, to 21.769. It doesn't affect the good data of the public finance: the deficit/GDP ratio improved to 6,6%, the tax burden fell to 38,5% (-0,3%).
London, Paris and Frankfurt recorded a slight decrease, less than 0,1%. European stocks are weak after broader decline in stock expectations factory orders in Germany. In May, the decline was 1,7%, a broader slowdown than the -1,1% estimated by economists. In April, the increase was 3,4%.
The expansive tones of the ECB bring it down again the Btp/Bund spread, impervious to the controversy between Italy and Germany: the gap is 156 points, the 2,84-year yield is XNUMX%.
Crolla the Austrian Erste Bank (-13%) after the announcement that it will close the year with a loss of around 1,6 billion euro due to the write-downs of loans in Hungary and Romania. The warning weighs on the banking sector. Most of all they forgive Unicredit (-1,1%) And Understanding (-0,9%).
Equita points out that Intesa is more exposed to Hungary (3 billion in loans) while Unicredit is biased towards Romania (4 billion). Assuming an increase in non-performing loans in line with Erste, the bank led by Federico Ghizzoni could record higher adjustments of 320 million. Agreement for 240 million.
MontePaschi loses 0,4%. Banco Popolare is up 1% e Banca Popolare di Milano loses 0,8%. Among other financial stocks, UnipolSai rose by 0,1% after Goldman Sachs confirmed the Buy recommendation.
Treasury spa shares are down, after rumors about the possible placement, already this year, of shares of Enel (-0,82%) ed Eni (+ 0,34%).
The six-legged dog, according to Mediobanca Securities, is together with Tenaris one of the most interesting titles in the oil sector: the geopolitical tensions in Iraq and Libya and could create a favorable scenario for the drilling and refining sector in Europe. The easing of restrictions on US shale gas exports is also valid, which has already led BP to plan investments in the Antwerp plant.
Minus sign for Finmeccanica (-0,5%) And Fiat (-0,4%). Telecom Italy salt of 0,5%. Mediaset, pending decisions on the front of Digital+, is up 0,9%.
