MONCLER, FINMECCANICA AND IREN ADVANCE. BANKS DOWN, MILAN THE WORST STOCK EXCHANGE
Piazza Affari sinks under the blows of the double rejection of the OECD and S&P, pessimists on the trend of the Bel Paese's GDP. Milan is thus the worst European Stock Exchange: the Ftse Mib index loses 1,04% to 20.852 bp. The other markets were weak, with the exception of Frankfurt up 0,09% and London +0,4%. Paris -0,29%, as well as Madrid -0,55% go down.
The Btp/Bund spread is reduced to 144 bp, against 132 for the Spanish Bonos. The yield on the Italian 2,34-year bond is equal to 1,15%. On Wall Street, the Nasdaq slips -XNUMX%, the Dow Jones gains slightly. Investors are making cash ahead of Alibaba's IPO: the Chinese company is preparing, according to The Wall Street Journal, to raise its price given the abundance of requests.
The euro-dollar exchange rate trades at 1,294, from 1,296 at Friday evening's close. The dollar strengthens against all counterparts. This week the Federal Reserve committee meets to make decisions on the cost of borrowing and monetary policy.
Difficult day for the banks three days after the launch of the European TLTRO loans.
Worst of all is Monte Paschi -3,75%, followed by Banco Popolare -2,68% and Unicredit -1,51%. Banca Popolare di Milano -1,7%, Ubi Banca loses 1,1%. The only one to move in positive territory Intesa up 0,2%. The Stoxx index of European banks loses 0,8%. Insurance companies and asset management companies were also bad: Generali -0,6%, UnipolSai -0,8%, Mediolanum -2,4%, Azimut -2%.
In contrast, Moncler shines +1,6%, promoted by Deutsche Bank (Buy) and JP Morgan (Overweight). Finmeccanica also gains 0,8%. The decision on the sale of the subsidiary Ansaldo Sts -0,7% is approaching. Fiat -1%. Stm -2,5% is worse. Eni loses 1,6%, it is the seventh consecutive session of decline. Saipem drops by 1,1%. Brent-type oil returned to parity at $96,95 a barrel, near its lowest level since June 2013.
Enel is down by 1,2%, Enel Green Power -1,5%. A2A loses 1,7% and Iren rises by 0,5% as a result of the rumors about the merger project between the two companies. This morning the group controlled by the municipalities of Milan and Brescia affirmed that any growth operations will be contained in the industrial plan being developed.
Eni loses 1,6%, it is the seventh consecutive session of decline. Saipem drops by 1,1%. Brent-type oil returns to parity at 96,95 dollars a barrel, close to its lowest level since June 2013. Enel is down by 1,2%, Enel Green Power -1,5%. A2A loses 1,7% and Iren rises by 0,5% as a result of the rumors about the merger project between the two companies. This morning the group controlled by the municipalities of Milan and Brescia affirmed that any growth operations will be contained in the industrial plan being developed.
