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In Asia, overall declines, but low volumes, with Tokyo closed for holidays. Focused regional and Italian referendums extended slightly upward. In Piazza Affari, among the worst Leonardo, Cnh Industrial and banks, Eni and St
by Stefania Arcudi and Paolo Paronetto
In Asia, overall declines, but low volumes with Tokyo closed for holidays. Focused regional and Italian referendums extended slightly upward. In Piazza Affari, among the worst Leonardo, Cnh Industrial and banks, Eni and St
4 ‘reading
Black day for European stocks at the beginning of the week, in line with the losses suffered by Asian markets on a day characterized by lower volumes due to the closing of Tokyo for holidays. The Old Continent indices, which started lower, have progressively widened the losses, losing more than two points. Piazza Affari is among the worst, with a decrease of up to 3% and the Ftse Mib fell below 19,000 points: volatility is accentuated by awaiting the result of the constitutional referendum and regional elections.
The persistent fears about the trend of infections of Covid 19, which runs the risk of causing new closures, weighing down European stock markets and, in particular, tourism-related securities. The banking sector is also under pressure, hit by the slippage in London by HSBC (-3.34%) and Standard Chartered (-3.42%). Both stocks have fallen to their 22-year lows following rumors of their alleged involvement in illicit fund operations for more than 20 years.
Additionally, investors continue to monitor developments in US-China relations after US President Donald Trump said he approved Oracle’s offer for the US assets of TikTok in principle.
Also expected is the speech of the number one of the ECB Christine Lagarde and the hearing, from Tuesday to Thursday, of the president of the Federal Reserve, Jerome Powell, before the Congress, on the efforts to mitigate the impact of the pandemic, which will begin tomorrow. . ends Thursday. The market also came under pressure from S & P’s decision to cut the Spanish rating outlook on Friday to “negative.” The “A” rating was confirmed.
Inverter brakes
Other concerns weighed on the recent profit taking by traders and basically the lack of good news reasons to buy. There are the contagion and the WHO has defined the situation in Europe as very serious even if analysts seem to have ruled out a new blockade like the one experienced. Above all, there is a little disappointment at the latest central bank decisions. The markets are now spoiled by the monetary stimulus measures and even the Federal Reserve, the US central bank, as the European Central Bank confirmed the implemented strategy without expanding the expansionary measures. In fact, many economists had expected it after the statements of some US bankers in that regard.
The weight of political issues
In the last sessionsRisk aversion also prevailed on Wall Street. Tech stocks have been redeemed, despite enthusiasm for Snowflake’s NYSE listing and Tesla’s vigor. Finally, there are the political problems. In Europe, the negotiations on Brexit and the celebration of the Italian government, in the United States the stalemate in Congress on the package of fiscal aid proposed by Trump that should have been launched already in July.
In Milan, dividends from Eni and St are ex-dividend, Diasorin maintains
In Piazza Affari the FTSE MIB, also weighed down by the payoff of dividends from Eni and Stmicroelectronics, yields less than one percentage point. Frankfurt, London and Paris do worse. Among the largest capitalization Milanese stocks, Cnh Industrial is in sharp decline, following the latest events in the Nikola affair, in which Cnhi has a stake of approximately 7% through Iveco. In fact, the electric vehicle startup in America has announced the resignation of founder Trevor Milton as CEO. Leonardo is also down, while Diasorin is gaining ground against the trend.
Mediaset in the spotlight, with voices of interest from Discovery
Mediaset in the spotlight in Piazza Affari after the Sole 24 Ore rumors in recent days about Discovery’s interest in the Biscione. According to rumors, the Discovery group would be interested in an alliance with Mediaset. The interest of the US group would derive from the presence of Mediaset in Spain and Italy, to which is added the control of 25% of ProSiebenSat in Germany, geographical areas complementary to those in which Discovery is present in Europe.
