Pause for reflection for the European lists, which close negatively with the exception of Piazza Affari, +0,45%, 23.630 basis points. After a matching opening, Wall Street moves cautiously up, after yesterday's records, but this is not enough to push Frankfurt -0,89% into the green; Paris -0,39%; Madrid -0,68%. Stay afloat London, +0,02%, despite the fact that the wind of uncertainty is blowing again from the British capital after the days of calm after the elections.
Boris Johnson indeed wants to change the EU withdrawal bill in order to prevent parliament from extending the transition period beyond the end of next year. A decision that reopens the door to one possible hard Brexit, in case time is not enough to sign a trade agreement with the European Union.
Upon hearing the news, the pound took the downward path and at the moment his majesty's currency is losing 1,5% against the dollar (after hitting its highest level since May 2018 on Friday) and 1,56% against the euro . The single currency also appreciates against the greenback against which it moves around 1,115. Also weighing on European stocks is the collapse of Unilever (-7% in London), after the announcement that sales growth in 2019 will be lower than expected due to difficult trading conditions in West Africa and the slowdown in South Asia . The forecasts for 2020 are also not very encouraging.
The oil rush does not stop, with Brent reaching 65,97 dollars a barrel (+0,96%) still in the wake of the phase one trade agreement between the US and China, which however has yet to be signed pending translations. Gold remains at the window, just above 1481 dollars an ounce.
Queen of European squares is Milan, which appreciates with Atlantia, +2,61%, in view of a revolution at the top and, according to what was written by Il Sole 24 ore, of the possible sale of 49% of Aeroporti di Roma and Telepass. The value of the sale of AdR could be around 5 billion euros.
Defensive stocks such as utilities keep the mood up: Italgas +2,33%; Terna +1,53%; Hera +1,43%; A2a +1,27%; Enel +1,01%. Performance for Saipem +1,18% and Recordati +1,83%. Profit-taking sinks Nexi, -3,45%. Sales on Finecobank -1,79%; Pirelli -1,05%; Post -0,93%. The banks file a weak session, Ubi -0,98%; Unicredit -0,63%.
Pale red suit for bonds, with the spread between Italian and German ten-year bonds rising by 0,93% to 146 basis points and the yield of the Btp slightly down to 1,16%. The Bund is doing better, falling -0,29%.
