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At the bottom of the list in Piazza Affari is Tenaris, which now sells 4.5% with the shares traded at 6.11 euros. Eni is also heavy, losing 3.6%. The Tenaris group presented a quarterly report last Thursday in line with expectations but with a perspective for 2020 defined by very weak and lower than expected analysts. Even Saipem (-2.3%) is not spared from sales on the Stock Exchange after the award of a contract by Gaz-System for the transport and installation of a gas pipeline between Denmark and Poland in the Baltic Sea (contract valid for about 280 million euros).
Exploit for Fincantieri, that after failing to make a price at the opening, the stock jumped 11.3% to 0.82 euros and the best on the Milan price list. The momentum comes from the record order in the United States announced last Friday. The United States Department of Defense has awarded Fincatteieri’s subsidiary Marinette Marine (FMM) a contract worth nearly $ 800 million for the detailed design and construction of the leading unit of the FFG (X) program for the new US Navy missile frigates USA The contract includes the option of 9 additional ships, in addition to post-sale support and crew training, which will bring the total value to $ 5.5 billion for Fincantieri. As part of the program, the US Navy. USA He plans to build 10 additional units, for a total of 20.
Tensions between the United States and China
Renewed geopolitical and trade tensions between the United States and China weigh on the markets. US President Donald Trump has threatened consequences against Beijing. Trump did not offer any evidence to support the new charges against China, but said his administration is writing a report that contains very overwhelming evidence. In the last few hours, an accusation against China from the United States Secretary of State, Mike Pompeo, also came, according to which the coronavirus occurred in a laboratory in Wuhan, the outbreak of the virus in China. On Friday Wall Street closed abruptly (-2, 81% the S&P 500 and -3.2%) the Nasdaq) also thanks to the disappointment of some quarterly reports, in particular the numbers below Amazon expectations.
The propagation
Launch due to the differential between BTp and Bund in the secondary market Mts of government bonds, until recovery after the break. The yield spread between the 10-year BTp benchmark expiring in August 2030 (IT0005403396) and the same German duration increases to 243 basis points from the 239 basis points of the last benchmark (here, the trend of the time differential real). The performance of the benchmark ten-year BTp index also increased, indicated at 1.88%, a significant increase from 1.81% at the last close.
In Europe
The other main European stock exchanges also open operations with the red sign. London fell 0.22%, Frankfurt 3.2% and Paris 3.5%.
In Asia
Asian squares on the decline with Tokyo closed for vacation and Hong Kong closed the session in deep red with investors fearing renewed tensions between the United States and China following Washington’s accusations in Beijing of being responsible for the spread of the virus. At the end of the exchanges, the Hang Seng Index lost 1,029.79 points, equal to 4.18%, ending at 23,613.80 points.
Oil
Out of the week in sharp decline due to the price of oil. Texas WTI crude oil leaves 7% at $ 18.3 on the ground, nullifying increases over the past three days fueled by some signs of a drop in consumption and cuts in production. Pessimism about oversupply and stocks in a world paralyzed by the coronavirus prevails again. Brent was also bad (-2.3% to 25.81).
