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Piazza Affari stands up to the effect of terrorism: industry down but banks up

The Milan Stock Exchange is the only Stock Exchange that does not close in the red after the terrorist attack in Barcelona which has rekindled fear even on the stock markets – Banks are up sharply – Industrial stocks (except Ferrari) suffer instead, but the FtseMib closes slightly above parity.

Piazza Affari rises again in the afternoon and closes with very slight growth, +0,04%, 21.796 points thanks to the banks in great recovery. The other European lists remain in the red, but they manage to face a difficult day, after the serious attack in Barcelona and the events in Cambrils. Disturbing news also arrives from Finland in the afternoon; in Turku a man allegedly stabbed passers-by. 

Sales are mainly concentrated on airlines and weaken London, -0,9%, Paris -0,6, Madrid -0,5%, Frankfurt -0,3%. The opening of Wall Street is uncertain, which risks closing the second week with a loss, despite the fact that the University of Michigan indexes on the US economy and inflation are better than expected. The Nasdaq is currently in positive territory. Stocks include the decline of Deere, the world's leading manufacturer of agricultural machinery, with disappointing quarterly sales and the rally of Estee Lauder, thanks to higher-than-expected accounts.  

The terrorism scare does not bring down the euro, which takes a small step against the dollar, +0,12%, cross 1,174, while doubts are accentuating on Donald Trump's ability to implement the promised pro-growth reforms. Gold slightly up +0,17%, 1290,092 dollars an ounce. Oil is on the upswing, Brent +1,78%, 51,94 dollars a barrel. 

Italian paper appears to have little movement, despite the fact that debt reached a new record in June: 2.281,4 billion, an increase of 2,2 billion compared to the previous month. The yield of the 10-year BTP is 2,03%, the spread with the Bund widens by 0,63%, 160.90 basis points.

Returning to Piazza Affari, the best headlines of the day are almost all banking: Banco Bpm +2,16%, after the rumors about possible alliances of the bank in the insurance sector; Unicredit 1,59%; Ubi Banca +1,39%. Saipem shines +0,92 among the oil stocks. Ferrari's roar in the car, +1,25%, while the proceeds on Fiat -0,74% continue. The biggest headaches for Sergio Marchionne, however, today come from Cnh, -1,95%, of which he is president and which is affected by the poor performance of its American rival Deere. At the bottom of the list are Stm -1,46%; Buzzi Unicem -1,37%; Recordati -1,58%; Telecom -1,71%. Out of the main basket, I Grandi Viaggi takes off with 17,18%.

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