Weekend in deep red for European stock exchanges, with the euro close to a two-year high and the auto sector in a nosedive, while the weekly "Der Spiegel" writes that the German car manufacturers Volkswagen, BMW, Audi, Porsche and Daimler would have created a cartel to fix the prices of diesel engine emission management systems.
Piazza Affari loses 1,1% and closes at 21.202 points, with FCA -2,62% among the worst stocks and peak banks. The black jersey, among the price lists, belongs to Frankfurt, -1,66%, where Volkswagen loses almost 4%. Rain of sales in Paris -1,57% and Madrid -1,31%, while London limits the losses, -0,47%.
Wall Street opens negative and accentuates the declines during the session. Sales particularly hit Ebay and General Electric, in the wake of quarterly accounts and forecasts, while tech giants Amazon, Alphabet and Facebook will present their quarterly reports next week.
The euro-dollar exchange rate remains at its highest for about two years, the cross is 1,165 +0,15%. Gold took advantage of this, hooking 1252,2 dollars an ounce (+0,6%). Oil, on the other hand, falls a few days before the meeting in St. Petersburg between Opec and non-Opec countries: Brent -1,36%, 48,63 dollars a barrel.
On the secondary side, the 10-year BTP gains ground for the sixth consecutive session: the yield falls to 2,08% and the spread with the Bund retreats to 157.30 -0,82%. The Italian paper is comforted by the confirmation of the ECB's accommodating policy, even if the discussion on the so-called tapering could be launched in the autumn, perhaps at the October meeting.
In Piazza Affari, sales are concentrated on cars and the surrounding area, FCA, but also Brembo -2,28% and CNH -2,26%. Ferrari is doing better, -0,64, after the gains of the last few sessions. Still down Exor -1,69%.
Heavy seat for bank stocks. The most consistent losses are from Bper -2,68% and Unicredit -2,02%. In view of the possible liquidation of the Atlante 1 fund, after the zeroing of the stakes in the Veneto banks, the institutions that participated in the fund will probably completely devalue the shares, but the move, writes Reuters, is expected and incorporated in the analysts' estimates.
Recordati slips -2,66%, after the good performance of the last few sessions. Negative Buzzi -2,51%. Weak Atlantia, -1,59% in the wake of new rumors of a counter takeover bid on Abertis. In fractional loss Telecom, -0,43%, while it arrives in closed markets the official release of CEO Flavio Cattaneo.
Well bought managed savings with Poste, +1,01% and Azimuth +0,45%. Shy purchases on Unipol +0,21%. Snam flat +0,05%. Hera, +1,85%, instead stands out among the Mid Caps, with Imi reiterating the "buy" judgment on the shares of the Bologna-based multiutility, whose target price is revised upwards to 3,30 euros from the previous 3,10.
