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Encouraging GDP, but the stock market slips

Istat and the European Commission agree that this year the Italian GDP will grow by 0,6%, but in mid-morning Piazza Affari turns red together with the other European stock exchanges - Mps collapses after the stock split - Bpm also turns negative on the day of the launch of the share capital issue – Bad for all the bankers – Fiat is waiting for Marchionne.

Encouraging GDP, but the stock market slips

After a slightly higher opening session, Business Square turns sharply downwards, losing 1,3%. The other main European stock exchanges are also bad: Frankfurt -1,3% and Paris -1,1%, while London travel on parity. 

On the bond side, the spread it remains slightly below the 160 points threshold, after yields on ten-year BTPs this morning reached a new low since the introduction of the euro.  

The worst title of the Ftse Mib is that of Ps, which yields 4% later in the morning the grouping of shares ordinary. The other banks are also in red: Mediobanca -2,93% Banco Popolare -3% Unicredit -1,4% Understanding -1,06% and Bper -3,3%.

He also shot the title of in negative bpm (-1,2%), after a good start, on the day ofstart of the capital increase from 500 million. 

Fiat yields 1,38% pending the presentation of the new business plan by Sergio Marchionne, scheduled for tomorrow in Detroit. 

On the macro front, in his latest predictions published this morning, theIstat estimates that the Italian GDP will grow by 0,6% this year and 1% next year. On the other hand, unemployment will worsen to 12,7% during 2014.

Also according to the European Commission, which today publishes its spring economic forecasts, Italy's economic growth will be 0,6% this year and 1,2% in 2015, after a 1,9% reduction in 2013. winter forecasts confirmed. 

Also confirmed are the data on the public deficit compared to GDP, which is forecast at 3% in 2013, 2,6% this year and 2,2% in 2015.

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