Day of declines, profit taking and uncertainty for the European stock exchanges which are affected, after yesterday's ECB bulletin, by the disappointing macro data on exports arrived from China, which confirm the Asian slowdown. The lists then recorded the worst-than-expected data on French industrial production e Germany's only moderate growth in the second quarter: also in view of the publication of data on GDP for the second quarter, on the agenda for next week, this morning the German Economy Ministry released a statement in which it estimates moderate growth in the second quarter, albeit supported by exports and consumption.
Milan closes down by 0,72%, Frankfurt -0,29%, Paris -0,61%, London -0,08%. Madrid –0,88%. It collapses in particular Bankia for which there is fear of the need for an injection of emergency funds. Not only. This morning a statement from the Spanish public bank bailout fund announced that private investors will have to participate in the recovery costs. Furthermore, for the rating agency Fitch, even the preferred creditors of the banks could suffer losses from the bailout of the Spanish credit institutions.
Moreover for Fitch there are doubts on the fact that the European aid plan of up to a maximum of 100 billion euros for Spanish banks will be enough "in the face of the great difficulties of the economy and the market" of the country. In fact, the difficulties of exposure to the real estate sector do not disappear.
Lo Btp-bund spread it climbs back 451 points from the opening of 440. The euro falls against the dollar to 1,2296.
Wall Street opens negative. At the close of Europe, the Dow Jones and the Nasdaq lost about 0,18%. Manchester United made a good debut: the shares of the Red Devils rose, in the first few minutes of trading, to 14,5 dollars per share compared to the 14 dollars of the price set in the IPO.
In Piazza Affari the banks do badly on fears of the contagion effect of the debt crisis but also of the slowdown of the economy and the increase in non-performing loans. The ABI specified that non-performing loans are increasing but that Italian banks remain solid. The effects of the recession on the system of Italian companies and on their ability to meet the obligations contracted towards the banks are evident but must not "lead to expressing hasty judgments about the structural condition of the credit quality of Italian banks", said L Italian Banking Association.
Unicredit expects a trend in revenues and difficult credit quality for the second half of the year. The stock loses 2,09%. Today Barclays cut its target price to 3,25 euro from 3,6 maintaining the equal weight judgment. Bper -2,80%, Intesa -2,50%, Banco -2,45%, Mps -1,91%.
Only Mediobanca runs in the sector galvanized by the possible movements in the shareholding around the moves of the owner of Tod's XNUMX Diego Della Valle. Featured on the Ftse Mib Stm +1,28%, Finmeccanica +1,19%, A2A +0,98%, Mediolanum +0,72% and Mediaset +0,64%. Unipol up 2,05% after half-yearly earnings doubled and despite S&P's rating downgrade.
Sharp decline of Saras down 9,04%% after quarterly data release. The refining group achieved a comparable Ebitda of 33,6 million euros against an average of 52 million in analysts' estimates.
