Ftse Mib reduces losses, FCA well after rumors

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The Italian Stock Exchange today in the middle of the session has almost completely eliminated the losses triggered by the concerns related to the spread of the virus: in the foreground is the situation in the United States, where in several states the peak seems not to have been reached yet, in several South American countries and the new outbreak in Germany, which could lead to new lockdowns.

At the halfway point in Europe, the Euro-dollar returns to growth and changes hands 1.12166, + 0.35% compared to the previous figure, while the future with September delivery on the Brent, which in the last two sessions of the last eighth respectively marked +1.7 and +1.6 percent, a share slightly above parity at $ 42.16 the barrel.

Borsa Italiana Oggi, update 1 pm: FCA positive

Halfway through the session, our Ftse Mib stood at 19,575.88 points, -0.22% compared to the previous figure, while the spread with German securities falls by more than two percentage points at 177 basis points.

In terms of individual performances, parity for Tenaris (-0.03%) despite the “buy” promotion announced by Goldman Sachs, and a minus sign of Eni (-0.89%) which, according to rumors, is considering the possibility of selling Pakistani businesses

Similar trend for Atlantia (-0.72%) after Prime Minister Conte reiterated that “The case must be closed and immediately”, “we have a duty to give a clear solution”, and + 1.94% of Fiat Chrysler in the wake of the indiscretion, reported by some business newspapers, of the maxi-penalty of 500 million which would be due by the Italian-US company or by PSA if one of the two should abandon the merger negotiations.

Piazza Affari, update 9:25: FCA in the spotlight

In Milan the blue chip index, the Ftse Mib, in the first exchanges of today’s session, 22 June 2020, it changed hands to 19,360.64 points, -1.32% on the previous figure.

Start of session characterized by weakness also for the Dax (-1.21%), for the Ftse100 (-0.85%), for the Cac40 (-1.21%) and for the Ibex (-1, 04%).

In the opening session, the spread with German securities, it did not record significant changes at 179 basis points.

As for our country, the General States of the Economy have allowed the need to work to pursue to emerge three major objectives: the modernization of the country, the energy transition and greater inclusiveness (Start-up recovery plan: what the project presented by Conte provides).

From the Atlantia front (-1.51%), Prime Minister Giuseppe Conte reiterated that “The case must be closed immediately”, “we have a duty to give a clear solution”.

Fiat Chrysler (-1.62%) is also in the spotlight after the news, reported by some economic newspapers, of the maxi-penalty of 500 million which would be due by the Italian-US company or by PSA if one of the two should abandon the merger negotiations.

The penalty would go down to 250 million if the shareholders’ meeting decrees the stop (FCA-PSA: two maxi penalties appear in the merger agreement).

For what concern secured loan of 6.3 billion, the government’s green light is on its way.

According to Bloomberg News, Eni (-1.32%) is considering evaluating the possibility of selling Pakistani assets while the newspapers on newsstands report the rumor that one of the Presidents of the Council would have arrived solicitation to Enel (-0.99%) and Cdp to solve the problem of the single network.

Negative trend of the Asian stock exchanges

There are also less signs on the Asian lists: in Hong Kong the Hang Seng index marks a -0.75%, the TSE China A50 share is down by half a percentage point and the Nikkei closed with -0.18%. The Australian index, the S & P / ASX 200, instead ended in a draw (+ 0.03%).

Wall Street: Nasdaq manages to close in a draw

The tensions over the spread of the pandemic obviously penalized Wall Street: the Dow Jones ended the last session of the last eighth with -0.8%, the S & P500 closed with a -0.56% and the Nasdaq managed to finish flat (+ 0.03%).



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