Piazza Affari closed slightly down, -0,07%, 21.726 points, a weak session for all European lists, orphaned by London, celebrating the Bank Holiday: Paris -0,48%, Madrid -0,57%, Frankfurt -0,37%. The super euro weighs on the markets, close to 1,2 against the dollar, the highest since 2015 and the uncertainty of oil is felt, Brent -1,56%, 51,59 dollars a barrel; Wti -3,28%, $46,30. Crude oil prices moved higher last week in anticipation of Hurricane Harvey and now, with the damage counted in Texas (and unfortunately also the victims), crude oil adjusts the shot. However, the situation is fluid, because the consequences on stocks and production must also be weighed, while the refineries are closed, the local population faces flooding and the ports remain closed.
Wall Street, in turn, is feeling some of the cataclysm. Price lists are currently mixed, with insurance stocks declining due to the hurricane. The losses are offset by the health and retail sectors. In particular, Kite Pharmaceuticals is rallying thanks to the news that Gilead Sciences has reached an agreement to buy the company at a price of 11,9 billion dollars with consideration all in cash. The weak dollar gives a boost to gold, which exceeds 1300 dollars: +1,16%; $1306,345 an ounce.
Moderately positive session for Italian paper, with consumer and business confidence rising beyond expectations in August. The appointment with Mario Draghi's assessments of monetary policy, after silence on the point in Jackson Hole, is instead postponed to the council meeting on 6-7 September. The yield of the 10-year BTP stops at 2,09% and the spread with the German Bund drops to 171.50 points, -0,87%.
In Piazza Affari the protagonists of the session are, positively, the banks: Banco Bpm +0,99%, Intesa +0,85%, Banca Mediolanum +0,7% and Unicredit +0,51%. On the negative pole are Buzzi -1,22%; Banca Generali -1,04%; Ynap -0,97%; Campari -0,9%. The performance of oil penalizes Tenaris -0,97. In the automotive sector, Ferrari loses its share, -0,78%. Moderately positive FCA +0,24%, after last week's peaks, due to a succession of rumors. Even today, the Italian-American company remains at the center of rumors, but this time investors remain on the sidelines. The latest rumors are from the Asia Times website, according to which a merger with the South Korean Hyundai-Kia is at stake. According to the authors, this prospect would be more welcome to the US than a Chinese house, since South Korea is one of Washington's most loyal allies.
