Very difficult Thursday for Piazza Affari which conforms to the black mood of all the stock markets. The new wave of infections in Europe has led some countries to further restrictions and this risks jeopardizing the phase of economic recovery.
The Ftse Mib closed down by 2.77% at 19,065 points, slightly recovering from the lows as well as Wall Street after the words of Trump who tried to instill optimism about the possibility of an agreement by the US Congress on the new stimulus plan before the election. Trump said he was willing to support a plan worth over 1,800 billion dollars, that is to say more than the previous proposal rejected by the speaker of the House, the Democrat Nancy Pelosi.
On the Piazza Affari parterre all the main stocks suffer with a single plus sign, that of Ferrari (+ 0.54%).
Once again the worst were oil stocks with WTI oil which fell below $ 40 during the afternoon. Eni’s stock broke downwards in the 6.50 euro area, closing at 6.418 euro (-4.18%), dangerously approaching the lows reached on March 16, which correspond to the lowest levels of the last 24 years. For Eni, the quotations at the moment mark -53% from the beginning of the year, among the worst in the whole Ftse Mib together with two other testimonials of the oil sector such as Saipem and Tenaris, also protagonists in negative today, in particular Tenaris down by 4 99%.
In the banking sector, the difficult moment is confirmed for Intesa Sanpaolo, which drops 4.93% to 1.5376 euros after yesterday being the worst bank share of the Ftse Mib. The other big banking company Unicredit also fell by 3.38%.
Minus sign only hinted at for Banco BPM (-0.03% to 1.61 euro) on which M&A rumors insist. Today Il Messaggero writes to us more intense contacts between the top management of Banco BPM and Credit Agricole Italia (920 branches in Italy, 4% market share) aimed at an aggregation. The transaction would appear to be a merger between Banco and Credit Agricole Italia, therefore there would be no takeover bid / OPSC with the relative recognition of an explicit bonus in favor of Banco BPM. The leaders of the two institutes have even already signed a confidentiality agreement regarding the mutual exchange of information.
Finally, together with the debacles of two big names such as ENI and Intesa, we note the opaque session also of Enel – the maximum weight of the Milanese leading index – which closed at -3.45% at 7.463 euros.
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