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Bankers are struggling, penalized by the strong volatility of the spread. Oil prices also fell sharply, affected by the drop in the price of crude oil.
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The main Italian stock indices and the main European exchanges ended the session with discounts of the order of 4%, as a result of the negative performance of Wall Street. In Milan, sales continued in the securities of the banking sector (affected by the trend of the differential) and in those of the oil sector, affected by the fall in the price of crude oil.
According to Stefan Hofrichter, global economist at Allianz Global Investors, the moderate decline in volatility since mid-March, as measured by the VIX index, it would not be the expected signal to return to be positive in actions. In this sense, the expert recalled that in the past the volatility of the shares tended to reach peaks a couple of months before the shares reached their minimums. “In summary, our watch list is still sending signals to be cautious in this bear market, but just as the recent liquidation has been particularly rapid by historical standards, the outlook could suddenly turn more positive,” concluded Stefan Hofrichter. .
the FTSEMib The day ended with a 4.78% hit at 16,719 points, the minimum of the day (maximum of 17,543 points). L ‘All share It has lost 4.52%. In red also the Middle cap (-2.8%) and star (-2.64%). In the session of April 15, 2020, the value of trade increased to 2.29 trillion euros, compared to 2.01 trillion on Tuesday; 774,833,014 shares changed hands (674,542,714 at Tuesday’s session). Of 433 securities traded, 350 registered a negative performance, while the increases were 69; unchanged the remaining 14 shares.
The differential between the 10-year BTP and the Bund stood at 235 points, after exceeding 245 points in the afternoon.
Bankers are in difficulties, penalized by the strong volatility of the spread.
Unicredit has lost 6.73% while UBI Banking left 6.91% on the ground. In red too BPER bench (-7.36%) e BancoBPM (-5.85%).
Oil prices also fell sharply, overwhelmed by the drop in the price of crude oil, which in New York fell to $ 20 a barrel: ENI sold 6.38%, Saipem 8.58%.
FCA (-5.08%) has aligned with the negative trend of FTSEMib. The automotive group has completed, with a group of 13 banks, the syndication of its new 3,500 million euro line of credit signed on March 25.
CNH Industrial ended the session with a drop of 8.5%. IMI Banking analysts reduced the company’s target price from 9.8 euros to 6.7 euros, after the reduction in the earnings per share estimate for the current year; Experts confirmed the “Hold” ruling.
Male Atlantis (-9.18%). In recent days, Autostrade per l’Italia has submitted the revised economic and financial plan to the Ministry of Infrastructure based on changes in the rate system. Meanwhile, analysts at Kepler Cheuvreux lowered the concession holding price target from € 19.5 to € 15.5, after the cut in earnings per share estimates for the period 2020/2021; however, experts confirmed the indication to buy the shares.
Definitely negative performance also for ASTM (-7.45%). In consideration of the economic scenario, the highway concessionaire proposed allocating all of the year’s profits to the strengthening of the capital structure and reserves the right to evaluate the possible call for a shareholders’ meeting, to be held at the end of the year, to propose A possible distribution of a dividend.
In FTSEMib in countertrend DiaSorin (+ 7%).
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