Stock market: Milan down with banks, Stm slips
Piazza Affari black spot in Europe (-1.2%). STM and credit institutions are down amid fears over the merger. Eni bucks the trend.
Quick Look
- The Milan Stock Exchange closed with a sharp drop of 1.2%, a black mark in Europe, penalized by the banking sector and the decline in Stm.
- The BTP-Bund spread rises to 118 basis points with the yield at 4.68%.
- Eni bucks the trend.
AI-generated summary
Why It Matters
The Milan Stock Exchange recorded a general decline with a focus on banking stocks and the BTP-Bund spread.
The Milan Stock Exchange (-1.2%) continues to decline sharply and wears the black shirt in Europe.
The banks weigh heavily on Piazza Affari.
The spread between BTPs and Bunds rises to 118 points, with the yield on the Italian ten-year bond at 4.68%.
In the main list STM slips (-2.9%).
Among the credit institutions, Mediobanca is doing badly (-2.8%), with fears of the failed merger with MPS (-2.4%).
Sales on Unicredit (-2.8%) and Intesa (-2.5%).
Male Bper (-2.2%) and Banco Bpm (-1.8%).
Unipol is in the red (-2.2%), with the Board of Directors having exercised the delegation for the capital increase aimed at purchasing the Monte branches after the Ca' de Sass takeover bid has been completed.
Generali is down (-1%) while doValue is little moved (-0.05%), the latter with the new industrial plan.
Brilliant session for Eni (+1.7%).
Fineco (+0.4%), Snam (+0.3%), A2a (+0.2%) and Inwit (+0.1%) also performed well.
Open Questions
- What will be the developments on the merger between banking institutions?
