BANKS AND FIAT DOWN. BUT RCS FLIES
NEW OIL THUD. THE GOLD RISES
THEspanish auction confirms the good performance of peripheral government bonds. After five months of decline, German business confidence is back on its feet.
Sul government bond market, the 10-year BTP holding up well: the spread went from 350 points this morning to 344 points.
THEeuro it is down to 1,306 against the dollar, from 1,311 at yesterday's close.
Yet the result is a sharp drop in Piazza Affari -2,39% , FtseMib index down to 16.076 points and other European Stock Exchanges: London down by 0,43%, Paris -1,15%, Frankfurt -0,76%. Madrid -1,21%.
Also Wall Street it is weak: the three main American indices fluctuate between variations, in both directions, around 0,1%.
On the macroeconomic front, second quarter US trade balance it decreased to -117,4 billion dollars from -137 billion and against expectations to -125 billion.
Second day of decline for oil after yesterday's crash (-2,4%), WTI trades at 96,5 dollars a barrel (-0,2%). Gold, on the contrary, is back just above 1.770 dollars.
Returning to Piazza Affari the realizations weigh on the banks, after last week's rally. Sales are substantial on banks: Unicredit loses 4,52% and Intesa 5,88%. Pop. Milan drops by 3,12% after HSBC lowered the rating to "underweight" from "neutral".
They weigh the controversy over Fiatin the eye of the storm. The stock falls by 4,27%. Interviewed by Repubblica, the managing director Sergio Marchionne says that the group does not intend to leave Italy.
Fiat Industrial falls by 3,08%, Pirelli -0,7%.
In sharp decline Mediaset -2,74% which in the afternoon decided to renounce presenting an offer for Telecom Italy Media which galloped between a suspension with a theoretical gain of 11% a price of 0,21 euros.
Also suspended Rcs + 23%.
Among industrial stocks in positive ground again today Ansaldo +0,0 8%, after yesterday's +3%. The stock has moved to levels it hasn't seen since mid-April.
Finmeccanica drops by 1,66%, StM loses 3,81%.
Saras it advanced by 5,9% after the announcement that it is negotiating a deal with the Russian Rosneft.
The rise of Ferragamo +1,16%, which Goldman Sachs has included in its "conviction buy list", the list of securities to buy without hesitation.
