Difficult morning for European price lists, which are all in negative territory. Particularly Business Square, black jersey among the European indices, which dropped 1,13% in the middle of a day of low volumes, also due to the holidays. Paris -0,49%, London -0,69% and Frankfurt -0,71% also declined to a lesser extent.
European stock markets are being pushed down by stocks from thethe energy and raw material, which follow the drop in commodities and oil. In this sense, the fact that the International Monetary Fund has asked the Gulf countries to adapt to low oil prices weighs heavily. In Paris the titles EDF they lose more than 7%, after Friday's announcement of a capital increase of 4 billion, 3 of which subscribed by the French government. According to company boss Jean-Bernard Levy, who spoke to the newspaper 'Le Figaro', "the company has too much debt and the imbalance between assets and capital is getting worse". According to some investment banks, the increase will be done with a 15% discount.
Still on the subject of oil, the price of wtf drops to $43,17 a barrel, down 1,3%. Also declining Brent, -1,11% to $44,61.
The index is also bad I fo, which measures the confidence of German entrepreneurs. The index fell to 106,6 points from 106,7 points in March against expectations that estimated progress to 107 points. The index on current conditions fell to 113,2 (from 113,8) with a consensus of 113,8 while that on expectations rose to 100,4 from 100, but below the consensus of 100,7.
In Italy, the spotlights are on the banking sector which is falling after last week's rally (+5%, thanks to the push of our banks, the European sector index) with Unicredit -3,64% black shirt from the price list. Dragging the institute's actions into the dust is Moody's analysis on the implications of participation in the Atlante fund. According to the rating agency, if the stake in the fund were deducted from Unicredit's regulatory capital, the institution would find itself with risk capital requirements.
Some of the other banks participating in the fund are also in difficulty, such as Where's Banca -2,53%, which contributed 200 million euros, e Intesa Sanpaolo -1,95%, which like Unicredit contributed 1 billion euros to the formation of Atlante, but has better capital requirements. They also glide Ps -1,17% and Carige -1,62% who contributed respectively with 50 and 20 million, and which, according to Moody's, however, could benefit more from the establishment of the fund.
Among the worst stocks of the day are also noted Cnh Industrial -2,97% and Buzzi Unicem -2,15%. Bad too A2A -1,55%, which is affected by the halt to the strengthening of Acsm-Agam, a multi-utility in the Como and Monza areas.
Also a lot of attention on Fiat Chrysler, looking forward to tomorrow's quarterly. The Italian-American automaker closed last week with a 7,5% gain but was dragged down by news that the company will have to recall 1,1 million autoveicoils for transmission defects that have led to numerous accidents. After falling by more than 3% in the morning, the stock is trading at around -1,04%, thanks also to the recovery due to indications on Jeep sales expectations in China.
