All crazy for Mediobanca (+2,8%), after the purchases of Del Vecchio, but this is not enough for Piazza Affari which loses momentum in the final and closes flat, -0,02%, 22.123 points. The trend is also negative for the Italian secondary, at the end of a particularly volatile session: the yield on the ten-year BTP rises to 0,91% and the spread with the Bund widens to 143 basis points, +3,07%.
Contrasted by the other European markets: Frankfurt, +0,09%, is not celebrating the presentation of the maxi plan for the climate of at least 100 billion investments by 2030. A move that thinks of the planet and also looks at growth, in a phase of stagnant economy. On the Dax, Commerzbank gained 0,35% after announcing a plan to cut staff by 4300 and reduce branches as part of a reorganization and review of its corporate strategy.
Well Paris +0,56% and Madrid +035%. London lost 0,21% and the pound also weakened after Ireland's foreign minister said London and Brussels were nowhere near a Brexit deal. In any case, consumer confidence in the euro area is improving: +0,6 points in September, which bring the index to -6,5%. Same trend in the EU.
Even Wall Street, after a matching opening, is losing altitude and the Nasdaq has gone negative. It's Four Witches Day, so called because index futures, index options, stock futures and stock options expire at the same time, so anything can happen. If the closing were positive, it would be the fourth week in the green, characterized by strong volatility in oil prices due to the attacks on Saudi infrastructure, the rate cut and liquidity injections announced by the Fed and the resumption of preliminary trade negotiations between the US and China.
Even today, again through the New York Fed, the US central bank has injected new short-term liquidity of 75 billion dollars on the "repo" market, where money is exchanged for securities in transactions that often last overnight . What prompted a move not seen since the 2008 crisis was the sudden lack of liquidity that sent rates soaring.
The euro-dollar is unfavorable to the single currency, with an exchange rate around 1,1. The greenback broke a two-week negative streak in FX today, reinvigorated by fears of a global slowdown and tensions in the Middle East. Oil is up, with Brent at 64,87 dollars a barrel (0,72%). In a world of low rates, gold remains firmly above $1500 an ounce (currently $1510,8).
In Piazza Affari the spotlights remain on Mediobanca, which is experiencing a whirlwind of exchanges and reaches its highest level in 16 months, after the purchases of Leonardo Del Vecchio, who has become the third largest shareholder in Piazzetta Cuccia with almost 7%. The purchases of the stock are raining down, but also the rumors according to which Del Vecchio wants to move to 10% of the Institute's capital. We therefore begin to think about the meeting of 28 October and the fact that a possible request to change the statute would open the door to a change of management.
For the rest, the financials are mixed. Finecobank rises again +2,42%, with Poste +0,99%. Instead, the banks stop and Bper marks a loss of 1,69%. An important step was taken today in the sector for the rescue of Carige, with the green light from the shareholders' meeting for the proposal for a 700 million euro capital increase linked to the restructuring plan with the Interbank Fund and the voluntary Scheme, together to the thirty Cassa Centrale Banca. 91% of those present were in favour, for 43,3% of the share capital. Malacalza Investimenti did not participate in the vote (the shares were not registered), which holds 27,6 percent of the share capital.
Atlantia +2,28% is placed in today's top ten of the main price list; Prismian +1,26%; Nexi +1,02%; Eni +1,11%. Losses are -2,31% for Stm; Buzzi -1,93%; Cnh -1,83%; Stm -1,74%; Leonardo -1,34%, who does not shrug off Matteo Renzi's wish for a merger with Fincantieri.
Outside the main basket Ovs marks a drop of 5,31% after the disappointing half-year. Mediaset, +0,73%, trades around the withdrawal price, after the agreement with Peninsula, which secures the plan to reorganize the Italian and Spanish activities in the Dutch holding MFE and despite the fact that the clash with the French shareholders has flared up .
