remain sharply down European stocks in mid-session, with Milan the worst between the main squares of the Old Continent, ballasted once again by banks. Are the stops were in fact different in Milan for excessive downside for many of the securities of banks and financial including Unicredit, weighed down by press reports that show possibility of a capital increase of 7 billion to 8 billion. Strong sales of Banca MPS, Unipol, Banco Popolare, BPER and Ubi Banca. Intesa Sanpaolo is weak but limits the damage compared to the sector on the day of publication of the half-year. The store does not even spare the other European markets with Paris and Frankfurt that mark than -1%. The red of Milan arrived up to two percentage points. Fca is heavy aftermath of car registrations in Italy, with Ferrari that did not keep the initial upward awaiting the half-year accounts.
On the banks weighs profit warning effect of Commerzbank New
day’s passion for Italian banks in a European framework, however, does not appear brighter. Sales, in fact, are affecting both the titles of Italian institutions and those of the major continental institutions, starting with the German Commerzbank. The shares of the second German bank came to lose more than 8% the Frankfurt Stock Exchange after the publication of half-year results but especially after cutting estimates for the entire year: the group expects net income and earnings operating lower than those of 2015. yesterday investors sold liberally banking in general, in the first session after the publication of the stress test results and even today are distancing themselves from the sector.
(source: Thomson Reuters)
In Milan the worst is Banca Mps, that yesterday seemed to be able to limit the impact of the “rejection” to the stress tests in the most adverse case scenario, thanks to the attention reserved positive by investors of the board of Npl plan and capital increase that had the go-ahead of the ECB .
(source: Thomson Reuters)
Meanwhile, in Frankfurt is also weak Deutsche bank, the first bank in Germany, while in Paris glide BNP Paribas, Credit Agricole and Societe Generale.
Mediaset to the clash with Vivendi
Volatile Mediaset in the day in which the representatives of Alfa Vivendi counterpart should meet to discuss the agreement last April that the French did not know would respect.
On the macro front the day does not offer particularly relevant ideas. In the Old Continent it is published in mid-morning the figure for the euro zone producer prices while Overseas arrive indications of income and consumption in the month of June and the ISM manufacturing index for the month of July. As for the currency market the euro has exceeded the threshold for just $ 1.12, maximum for five weeks, with the yen continues to strengthen towards the major currencies.
Oil, WTI back above $ 40 a barrel
the price of crude oil, after a weak start, has gained ground. WTI delivery in September contract fell below $ 40 a barrel and then regained this threshold, when the October delivery – which starts to be the most traded on the market – rise above $ 41 a barrel. Does best Brent of the North Sea, that with the October delivery contract tries to get close to $ 43 a barrel.
(Il Sole 24 Ore Thomson Plus)
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