The fire in oil prices subsides. The European Stock Exchanges, orphaned by Wall Street closed for Labor Day, rest on Friday's prices.
Piazza Affari ends the day with a fractional rise of 0,04%. Even Paris and Frankfurt are substantially unchanged, respectively -0,02% and -0,1%: Angela Merkel's electoral defeat did not weigh. European markets moved little in the absence of indications from Wall Street, today closed for the American holiday of Labor Day.
Oil stocks remained under observation in the wake of the agreement signed between Russia and Saudi to set up a task force to review the fundamentals of the oil market and recommend actions and measures that could ensure its stability. But the price of crude oil, however, after gaining more than 5%, has slowed down due to the absence of announcements on the cut in production: the WTI stands at 45,08 dollars, an increase of 1,5 %.
In Milan Eni closed the day up 0,8%, Saipem +1,3%, Tenaris +0,8%,
Counteract the actions of the banks. Highlights Bpm +2,5% and Banco Popolare +4,8%, while the time of the wedding finally approaches, blessed by Davide Serra of Algebris. On the basis of what was declared by the chairman of the Supervisory Board Nicola Rossi, formal approval of the merger by the ECB should arrive in the next few days”.
Monte Paschi, on the other hand, loses its shot - -1%, awaiting news on the capital increase operation. The Bigs are also down: Unicredit -0,59% Intesa - 0,4%.
In insurance Unipol advances +1%, Generali falls -0,7%. Despite the slowdown in managed savings, Azimut +1,2% and Anima +2% gained.
Fiat Chrysler closed the session tied. Brembo has also come forward among the suitors for Magneti Marelli, with chairman Alberto Bombassei saying he is interested in some of the components company's activities. Brembo rises by 0,4%.
Among the luxury stocks, Moncler [MONC.MI] gains 1,5%: JP Morgan has raised its target price to 19,5 euros.
