The ten-year BTP is all the rage and the spread with the Bund drops to pre-pandemic levels, but Italian banks deflate and depress Piazza Affari, which closes in the dark in Europe. In the afternoon, the other continental lists also lost ground following the negative opening of Wall Street, after claims for unemployment benefits exceeding one million for the eighteenth consecutive week. Tesla takes a breath, -0,08%, after the excellent results.
The financial climate is stagnating due to US-China tensions and the Covid 19 epidemic, which continues its inexorable march around the world, exceeding 3 million infections in Europe and approaching 4 million in the United States. In the gloomy day of the markets, however, the light of gold continues to shine, still rising to 1895 dollars an ounce.
Frankfurt limits damage stopping virtually unchanged, -0,04%, supported by Daimler, +4%, which expects an increase in the net profit of the subsidiary Mercedes Benz this year, in a framework in which sales are growing again.
They are flat too Paris -0,07% and Madrid -0,01%; little better London + 0,1%.
Milano it drops 0,7% and drops to 20.454 points. It is at the bottom of the list Diasorin, -3,26%, penalized by the ongoing judicial investigation into the agreement signed with the San Matteo Hospital on serological tests for Covid.
However, it is above all the banks that weigh on the Ftse Mib, after that Unicredit (-2,47%) put a stop to the aggregation hypotheses put forward by the press in recent days. Yesterday the CEO of Unicredit, Jean-Pier Mustier, reiterated that the bank is not interested in M&A transactions and believes the buyback route is more efficient.
Bpm bank loses 3,19%; Understanding -1,44%; Mediobanca -1,73%; Ubi -1,24%. Out of the main basket Bper yields 3,45%, with Ps -3,42%. The sector suffers from the hypothesis that the ECB may ask the main institutions to suspend the detachment of dividends for the whole year. The banks stop in the red despite the secondary archives another excellent session, still in the wake of the agreement on the Recovery Fund.
Lo spread with the German 146-year bond it falls to 3,79 basis points (-1%) and the BTP yield returns below the 0,97% threshold (24%). We are one step away from the close of Monday 2020 February 144,4 (300 basis points) when the markets began to discount the spread of the pandemic in Italy and the spread began to run up to over XNUMX basis points (in mid-March), before of the decisive intervention of the ECB.
In the rest of the list they are negative A2a -2,87% and Atlantia -2,71%. Chip maker Stmicroelectronics fell 0,41% as it improved its guidance for full year net revenues.
Sales also on Telecom which drops 0,47%. The Brazilian subsidiary does worse Tim Participacoes (-4,5%) after the news that Highline do Brasil, a company of the private equity group Digital Colony, presented the best offer for the mobile assets of the Brazilian TLC Oi and the two parties are entering into exclusive negotiations.
Queen of the session is Unipol, +4,12%, on which Equita raises the target price by estimating growth in the non-life business also for Unipolsai (+1,11%). Analysts expect a strengthening of the sector thanks above all to the frequency of post-lockdown traffic, which should compensate for the weak period in the life segment and in financial management.
Bene Cnh +2,39%; Campari +1,95%; Moncler + 1,64%.
On the currency market theeuro maintains a good pitch against the dollar as the exchange rate moves above 1,16. Weak the GBP, which suffers from the comments of Michel Barnier, EU negotiator for Brexit, according to which London has not shown enough willingness to get out of the impasse on the agreement for the divorce from Brussels. The British currency fell by around 0,3% against both the dollar and the euro.
Among the subjects the Petroleum is in slight decline. Future Brent, September 2020, trades at 44,20 dollars a barrel (-0,2%).
