Piazza Affari above parity, pale red for the other European stock exchanges. Here is the photograph of the price lists at the end of the morning, awaiting the outcome of the new government meeting on the Italian budget law. Milano it marks an increase of 0,4% around 21.950 points. Frankfurt yields 0,1%, such as Paris. salt London (+0,3%) against the further decline of the pound, on renewed tones in view of a possible "hard Brexit". The euro/sterling exchange rate rose this morning to its highest level since mid-November at 0,89835
The recovery of the debt favors the Italian market. The BTP it is further away from the alert levels, around the 3% yield exceeded last week. The 2,85-year trades at 242%. The spread drops to XNUMX points following the declarations of Minister Giovanni Tria.
The Italian government sees a worsening of growth and the deficit compared to last spring's Def estimates, but does not question the process of reducing the public debt. Economy Minister Giovanni Tria says so in an interview with Sole 24Ore. According to Tria, growth drops to 1,2% this year (from 1,5%) and to 1,0-1,1% in 2019 (from 1,4%), while trend debt, i.e. under current legislation, it is already 1,2% in 2019 against the 0,8% indicated in the Def.
He suffers in Piazza Affari B for Bank (-5,4%), finished in volatility auction. It is the worst stock on the list, after closing the second quarter with an operating profit down 23% year on year to 358 million euros. Total revenues, also due to the 1% decrease in the interest margin, amounted to 509 million euros. Operating costs rose sharply: +12% to 358 million euro. Common Equity Tier 1 down slightly from March, at 11,6%.
Unicredit +0,3%: Société Générale lowers the target price to 16,6 euros, the day after the presentation of the quarterly data.
Carige unchanged limits damages after Moody's downgrades rating.
Mount Paschi (+0,01%) indifferent to the words of the Minister of Economy, Giovanni Tria, on the return of control to the market.
Weak Pirelli (-0,3%), yesterday the best stock in the list awaiting the accounts. The company ended the second quarter with revenues down 2% year on year to 1,31 billion euros, slightly below expectations. Adjusted operating profit up 10% to 232 million euros, better than expected. The tire manufacturer has revised some objectives for the current year, confirmed that relating to operating profit.
Positive points for Ferrari, Atlantia e Salvatore Ferragamo.
Outside the main basket, it shines Salini Impregilo (+4,7%). The company announced last night that it has initiated the final phase of the auction on a portion of its North American assets. The offers for the Plant/Paving division of the subsidiary Lane are higher than the amount paid out by Salini at the end of 2015 to take over all of Lane.
Zucchi +18,5% soars after announcing, with the market closed, a modification of the debt restructuring agreement.
Gabetti (+10,13%) galloping after exit from the Consob black list.
