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by Fabrizio Patti Milano08 April 2020 The repercussions on the spread of the failure to reach the Eurogroup yesterday and the postponement of the decisions until tomorrow are immediate today. The spread yesterday closed stable at 195, at the opening it rose to 213. In the middle of the session, the differential between the yield of the BTPs and the German Bunds is at 204.On equity markets, Milan's Ftse Mib shows -0.66%, after falling by more than 1% during the morning. The biggest drops in Paris (-1.5%) and London (-1.3%).
Bank stocks mainly came down in Piazza Affari (-1.7%). The industry sector is currently bucking the trend (+ 1.3%).
Among securities, the negative trend of banks also follows Intesa Sanpaolo (-2.37%) and Ubi Banca (-1.74%). Ubi's president, Letizia Moratti, today at the meeting underlined the importance of the bank's autonomy, the subject of a public exchange offer in the past months: "Ubi's autonomy - he said - is a value for everyone the bank's stakeholders as demonstrated by the institution's commitment to supporting the territories affected by the coronavirus emergency ".
Greater increases today for Azimut (+ 4.2%), followed by Diasorin, Pirelli, Cnh Industrial, Poste Italiane. Greater reductions for Bper Banca (-2.94%), Exor, Intesa Sanpaolo and Banco Bpm.
With the exception of Japan, Asian stocks had also been weak overnight. Also because yesterday Wall Street closed slightly down after Monday's + 7%.
Today futures anticipate a slightly positive opening. And the US Secretary of the Treasury, Steven Mnuchin, confirmed that the White House has asked Congress to approve another $ 250 billion in aid to small American companies.