From the data of industrial production new reasons for alarm emerge for the economic situation. But Business Square, one of the few European lists opened on the day of Pentecost, remains in slightly positive ground (+0,07%) in line with the Asian stock exchanges. They are closed for holidays Frankfurt, Vienna, Zurich as well as the markets of Norway, Hungary and Luxembourg. The index euro Stoxx + 0,2%.
In April the industrial production it decreased by 0,7% on the month and by 1,5% on the year. The March figure was revised down from -0,9% to -1,0% month on month. Output declined for four consecutive months between September and December 2018, then rebounded sharply in January and February before falling back.
Dates the yield of the BTP to 2,42%, from 2,35% at the closing. For their, down 1% to 1.328 dollars an ounce, could come the first day of declines after eight consecutive increases.
Petroleum WTI up 0,6% to $54,3. Exploration activity, summarized in the number of active drilling rigs, fell in the United States last week to a fifteen-month low.
In Piazza Affari it stands out Tenaris (+3%), present with more factories in Mexico, which should benefit from the freezing of duties on goods imported from the United States. It also advances Saipem (+1%): Jefferies raises the judgment to Hold.
In great evidence Mediaset (+6,45%) which this morning presented to analysts the reorganization of the investments in a Dutch holding company, christened Media For Europe. The shareholders of the Italian and Spanish companies will receive MFE shares, those of Mediaset in a one-to-one ratio. Assuming that the withdrawal is zero, Fininvest will have 35,4% of the capital of MFE, Simon Fiduciaria 15,4% and Vivendi 7%. The French company, due to the provisions of the withdrawal clauses, could block the operation. Based on the announced synergies, the merger should have an initial positive impact on earnings per share starting in 2020.
The new TV center will be the second European broadcaster in terms of advertising revenues with 3,1 billion euros in 2018, just behind Rtl Group's 3,2 billion, and the third in terms of market capitalization (3,9 billion euros based on prices of 27 May) after Rtl and ITV (6,5 and 4,9 billion respectively). Over the next four years (2020-2023), industrial efficiencies worth 100-110 million euros are expected.
Fiat Chrysler (+ 2,18%) and Renault are looking, according to Reuters, for a way to take back the merger project and get the go-ahead for Nissan Motor, partner of the French automaker. Nissan intends to ask Renault to significantly reduce its 43,4% stake in the Japanese group in exchange for its support for the FCA-Renault alliance, Reuters reports. It remains unclear whether these efforts will bring to fruition a complex and politically tense deal, complicated by French objections to the new governance of the Japanese group.
Well the banks. Unicredit e Where's Banca + 1%. nexi (+1%) rises to a new all-time high in view of entry into the FtseMib, scheduled for Monday 24 June.
Tod’s +1%: today the increase in voting rights for 20,3 million ordinary shares of the group held by the Della Valle family took effect, corresponding to 30,7% of the share capital.
Fincantieri +0,5%. Giampiero Massolo, president of Fincantieri, says he hopes for an EU response on the agreement with the French STX before the Commission led by Juncker expires.
Tiscali +5%: Amsicora, headed by Claudio Costamagna, Manilo Marocco and Alberto Trondoli, reserves the right to purchase other Tiscali shares and/or bonds, according to a Consob filing.
