After the morning toast, for the invention agreement on the Recovery Fund, the European lists reduce the gains in the afternoon and close positive, but far from the highs of the session. The markets had already bet on this compromise in recent days and so, after the initial euphoria, prudence prevailed, while infections in the world are about to reach 15 million and Wall Street travels contrasted with the Dow Jones in clear progress and the Nasdaq in decline. The only asset on which the sun never sets is gold, which even today appreciates above 1842 dollars an ounce.
In Europe Frankfurt leads the way with an increase of 0,92%; Paris +0,22%; Madrid +0,23%; London +0,11%. Piazza Affari rises by 0,49% to 20.723 points, after having gone beyond the mark of 21 points in the first part of the session. It was above all the banks that lost their edge during the exchanges, even if the two big ones, Unicredit (+1,43%) and Intesa (+1,64%), remain among the best stocks on the list.
The sector has been in fibrillation since Friday, since Intesa raised its stake in the Offer on Ubi (+0,19%), because the merger could set in motion a domino effect in the sector, with Unicredit, Banco Bpm (+ 0,44%), Mps (+0,11%) and Bper (+3,46%) at the center of the games and attention. Today Ubi's board of directors remained rather cold on Carlo Messina's offer and he limited himself, writes MF, “to taking note of what was communicated by Intesa on 17 July, ie the relaunch regarding the ops. He prefers to wait for the publication of the supplement to the prospectus before meeting again. Meanwhile, he clarifies that Ca 'de Sass cannot impose the transfer of branches requested by the Antitrust ”.
The best blue chip of the Ftse Mib is Pirelli, +3,74%. Moncler appreciates +2,43%. While oil stocks follow black gold prices: Tenaris +2,39% and Eni +1,69%. Oil is up sharply, with Brent futures, September 2020, up 3% to $44,5 a barrel.
Sales hit Telecom, -2,49%. The Lazio Regional Administrative Court has rejected the request to suspend the measure with which the antitrust authority fined Tim 116 million euros last March for obstacle to competition in the ultra-broadband market. Bad Leonardo -2,29%, Buzzi -1,54%, Diasorin -1,44%.
Atlantia was moderately positive +0,31%, on the day of the annual meeting of the parent company Edizione, the holding company of the Benetton family. Cdp will have to subscribe to a capital increase of Autostrade which according to some rumors would be close to 4 billion to have 33% of Aspi. Equita writes that "if these numbers were confirmed, ASPI's pre-money valuation would be around 6,1-8,1 billion, i.e. an implicit value of Atlantia of 15,5-18 euros per share".
Bonds stable, consolidating yesterday's gains: lo spread is at 154 basis points (+0,71%), with the Italian ten-year rate at 1,08%. The euro remains tonic against the dollar, with the exchange rate ever closer to 1,15.
