Bags fell, fear of a second wave of infections. Dividend day in Milan

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Servicemarket day

Investors attentive to the statistics of new cases in the USA, Germany and China. Lively auto sector on European equities, in Piazza Affari, several big companies take off coupons. Wall Street in red

by Andrea Fontana and Paolo Paronetto

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Investors attentive to the statistics of new cases in the USA, Germany and China. Lively auto sector on European equities, in Piazza Affari, several big companies take off coupons. Wall Street in red

4 ‘of reading

Investors with their eyes on statistics on the trend of infections, after the record of 183 thousand cases in one day at a global level announced by the World Health Organization and the situation of some outbreaks in China, Germany and the United States: the European Stock Exchanges they are falling with Madrid in particular which is down 1%. The price lists of the Old Continent, however, after the European Council started the discussions on the 750 billion Recovery Fund, arrive from a particularly brilliant week: Milan, for example, rose by 3.9% overall and the Stoxx600 index gained over 3%.

But fears of new waves, and consequently of new lockouts in production activities, are penalizing prices, including on Wall Street where the main indices have opened lower and are now traveling with a liability around half a percentage. Nonetheless US domestic economic activity returned to growth in May. The index that measures its performance, drawn up by the Federal Reserve of Chicago, rose to 2.61 points from -17.89 points in March. The index is a weighted basket of 85 indicators from various economic sectors.

Dividend time in Milan: -0.3% effect on the Ftse Mib

In Piazza Affari it is a day of coupons: they ex-dividend Snam, Terna, Telecom Italia, Leonardo, Exor, Poste Italiane and StMicroelectronics. This operation leads to a technical drop in the Ftse Mib index of 0.31%. Instead, they are gaining ground on the first day of trading on the Ftse Mib Interpump is Inwit. It is flat instead Campari which, following the acquisitions of shares by the majority shareholder Lagfin, has announced that the transfer of the headquarters to the Netherlands will become effective. Braking for Gvs on the second day of listing after + 21% of the onset: the prices of the Bolognese company of safety filters also used in the healthcare sector (from masks to filters for lung fans) nevertheless reached a maximum of 10.6 euros per share of the 8.15 of the placement. The automotive protagonist throughout Europe rewards FCA, Pirelli and Ferrari in Milan, while Atlantia it is falling: the latest statements by the Prime Minister Conte on the revocation of the concession to Autostrade per l’Italia seem to indicate that the chances of an agreement are decreasing.

Another collapse for Wirecard: -30% in Frankfurt

He continues his descent into the stock exchange in Frankfurt, while the outlines of the scam that emerged last week are clarified. The capitalization, with a new -30%, has decreased to less than 3.2 billion from the 24 billion that had allowed it to enter the Dax 30 instead of Commerzbank in September 2018. In 4 days the quote has lost over 80% of its value, after the auditing firm Ernst & Young refused to validate the 2019 financial statements, for ‘doubts’ about 1.9 billion of liquidity. The Wirecard board has stated that “It is very probable that the balance of fiduciary bank current accounts for an amount of 1.9 billion does not exist”. The sum represents about a quarter of the balance sheet of the German group, which has announced the withdrawal of its 2019 accounts and those of the first quarter of 2020. This decision could lead to the withdrawal of 2 billion euro loans from banks .

Germany, for the Bundesbank it will be -10% GDP in the second quarter

The Bundesbank expects Germany’s GDP to drop even more sharply in the second quarter of 2020 than in the first quarter. “Overall, economic output could decline on average by almost ten points in the current quarter, and therefore significantly more than in the first quarter,” the Bundesbank wrote in its monthly report. In the first three months, GDP had fallen 2.2 percent due to the coronavirus pandemic. However, Buba points out, the package of economic stimuli presented by the coalition parties in early June is expected to further boost the economic recovery and could also help improve the mood of consumers and businesses, the Bundesbank said. Although effects are unlikely to occur in the second quarter.



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