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Telecom and fashion rebound but do not shake the Stock Exchange

Telecom Italia, Yoox, Ferragamo and Prysmian lead the increases in Piazza Affari but the FtseMib index does not break the parity – European stock exchanges challenged.

Telecom and fashion rebound but do not shake the Stock Exchange

Colorless session for Piazza Affari, which closed at -0,03%, 21.484 points with well-tuned fashion, Telecom recovering (+1,24%) and utilities down

The other markets also moved little, waiting for stimuli from the meetings of the ECB next Thursday and of the Japanese central bank, as well as from the next US quarterly reports. The worst is Frankfurt -0,35%; followed by Paris -0,1%; flat Madrid. London is positive, +0,35%, with the pound falling, on the day of the start of the second round of negotiations useful for defining the modalities of Brexit.

Wall Street, after a slow-motion opening, proceeds cautiously; BlackRock withdraws, due to a quarterly increase, but less than expected. With closed American markets, the accounts of the video streaming site Netflix will also arrive.

The euro-dollar relationship was without shocks, at 1,146. Oil uncertain, Brent -0,1%, 48,86 dollars a barrel. Gold gains 0,4% and reaches 1233,67 dollars an ounce.

In this climate with a summer flavor, the Italian bond stands out positively. The 2,24-year yield falls to XNUMX% e the spread with the German Bund falls to 164.70, -2,2%. A performance also favored by good data from China, higher than expected, useful to give substance to the global recovery. Furthermore, on Friday evening, Dbrs confirmed its opinion on Italy at BBB(high) with stable trend. 

The session of the Ftse Mib was animated mainly by Ynap +3,02% and Salvatore Ferragamo +1,88%. Well bought Prysmian, +1,33%, driven by the fact that General Cable could sell the company. Telecom closes higher, +1,24%, after Friday's losses, in a sector among the best in Europe. Sales focus on utilities: A2a -1,22%; Enel -0,97%. Financials contrasted, with Banca Generali -075% and Azimut -0,77% negative; while Finecobank, +1,18%, is positive. Buzzi Unicem loses 0,71%.

Among the banks, we note the fractional loss of Unicredit, -0,59%, which completed the sale of a portfolio of 17,7 billion npl to Pimco and Fortress. Out of the main basket still travels supported Dobank, + 6,34%.

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