Italian Stock Exchange in heavy decline: Ftse Mib -2.11%. Banking crisis, MPS and UniCredit the worst – La Stampa

Italian Stock Exchange in heavy decline: Ftse Mib -2.11%. Banking crisis, MPS and UniCredit the worst

          

Italian Stock Exchange in heavy decline: Ftse Mib -2.11%. Banking crisis, MPS and UniCredit the worst.

The Ftse Mib marks -2.11%, the FTSE Italy All-Share -2.00%, the FTSE Italy Mid Cap -1.42%, the FTSE Italy Star -0.83%.

European stock markets down. DAX -0.9%, CAC 40 down 1.1%, FTSE 100 down 0.5%, IBEX 35 -1.9%.

Futures on US stock indexes down slightly. the closures of the previous session on Wall Street: S & amp; P 500 -0.13%, Nasdaq Composite + 0.43%, the Dow Jones Industrial -0.15%.

Tokyo sharply lower with the Nikkei 225 index closing at -1.47%. little moves Chinese handbags : the Shanghai Composite Index and Shenzhen CSI 300 closed at + 0.39%, while the Hong Kong stock exchange today has been closed for weather alerts caused by Nida tropical cyclone.

euro rising against the dollar, touching its highest level since late June to 1.1208. EUR / USD is currently at 1.12 or so.

Bond markets Eurozone in red. The yield on ten-year Bund rooms 3 bp to 0.06%, that of BTPs marks +3 bp to 1.21%. The spread is stable at 127 bp.

Do not stop the descent of the bank: the Italian FTSE Banks index marks -4.93% -2.6% after yesterday, l ‘ EURO STOXX Banks -2.1%. Unicredit (-4.98%, the volatility auction) again the protagonist in negative after -9.4% yesterday. The Messenger writes that CEO Mustier has begun negotiations with the major international banks (JP Morgan and Morgan Stanley in the lead) to organize an increase of 7-8 billion euro capital, well above the 5 billion of rumors last week. Strong sales for UBI Banca (-4.2%) and Banco Popular (-4.3%).

Sink also MPS Bank (-5.61%, the volatility auction): the press are talking about increased in late November and underwriting syndicate that rises from 8 to 14 banks.

Heavy decline for oil in the wake of crude oil, which fell yesterday, the lowest level since April. In serious trouble Saipem (-3%), followed by Tenaris (-2.8%) and Eni (-2%). It continues the collapse of Saras (-8.7%) after -8.8% yesterday in the wake of the second quarter: the adjusted net profit fell by 62% y / y at EUR 50 million, revenues to 1.77 billion, -35% y / y. Of note is the lowering perspective refining margins in the second half with a negative impact estimated at about 70-100 million Euros compared to the plan.

FCA (-3.4% ) sharply lower despite good data on registrations in Italy in July. The market has registered a growth of 2.9% y / y, FCA by 4.8% y / y. The salt market share to 28.8 percent, up 0.5 percentage points compared to July 2015.

As far as the macroeconomic events in your diary now we point to 10: 30 UK construction PMI, 11:00 eurozone manufacturing index prices.
in the US at 12:15 intervention Kaplan (Fed), 14:30 consumption and income.

(Simone Ferradini)