Closure in the red for Piazza Affari, in a cautious European context and with Wall Street in decline. The Ftse Mib loses 1,05%, 22.452 points, weighed down by oil stocks, bank stocks, Buzzi, -2,58%, worst blue chip of the day. Instead Leonardo did well, +1,7%. Weak Paris -0,18%, London -0,09%, Madrid -0,03%. Frankfurt, +0,14%, catches a rebound, after yesterday's slide.
In the afternoon, the European indexes froze the European indexes, intimidated by Donald Trump's choices, in particular by the tariffs that could damage a series of industrial stocks, starting with Boeing, which are down sharply on the Dow 30. At the same time, Treasuries are rallying and yields are falling, especially on the 1,237-year bond, because trade tensions are pushing investors towards safer ports. The euro-dollar exchange rate moved little, with the US currency recovering slightly and the cross around XNUMX.
The European price lists therefore, after a clear morning, take the road of sales. Piazza Affari appears to be the weak link in today's chain, weighed down by the political situation and by the words, albeit not new, of Matteo Salvini. The leader of the League, speaking to the foreign press, brand the euro as the wrong currency and reiterates that in life there is only death that is irreversible, while closing any alliance with the center-left and saying: "excluding the Democratic Party, everything is possible to form a majority".
In this context, the Italian secondary sector also suffers. The ten-year yield rises slightly to 1,93%, but the spread with the German Bund it widens to 133.40 basis points, +4,55%.
All on the day when the European Commission presents a package of measures for NPLs of banks, where we talk about: provisions to cover the risks inherent in future loans that could deteriorate, development of secondary markets on which to sell NPLs, credit recovery facility, assisting states in the process of bank restructuring by providing a framework for the establishment of asset management companies (bad banks).
Italy is "a special observation" on the markets – recalls the member of the supervisory board of the European Central Bank Ignazio Angeloni – because it has banks "partly still in a risky situation".
The climate does not favor credit purchases: Bper drops 2,26%; Ubi -2,16%; Understanding -1,5%; Unicredit -1,37%. Evil Atlantia, -2,53%, on the official day of the agreement with Acs and Hochtief for the offer on the Spanish concessionaire Abertis.
Rain of sales of oil stocks, Tenaris -2,31%; Saipem .2,41%, with black gold volatile after US weekly inventories data. Brent is currently practically flat: -0.09%, 64,58 dollars a barrel. Unipol down, -2,47%.
Only three positive stocks in the main basket: Leonardo, rewarded for a 3 billion euro contract with Qatar; Banca Generali +0,51%; Fineco +0,15%.
