Political uncertainties and banks weaken Piazza Affari

2019-12-27T12:13:21.515Z

The Statistical Bulletin of the European Central Bank has revised downwards the growth estimates for the Eurozone, but this does not prevent the squares of the old continent from showing upwards. It is the long wave of the new historical highs reached last night in the USA. Milan, on the other hand, is an exception. The political situation with the government team with a resigned minister makes investors nervous. The Ftse Mib index falls 0.37%, while London, Frankfurt and Paris grow around half a percentage point. On the Milanese price list, Saipem gained 2.61% after the announcement of new signed contracts, badly banks and insurance companies with Unipolsai fell by 2.32% and Unicredit down by 1.56%. The spread with the German Bunds still remains high at 168 basis points with the yield of the 10-year BTP at 1.43%. On the commodities market, the price of oil rises to 68 dollars a barrel, which has reached the highest levels since last September. Among currencies, the Euro takes advantage of the weakness of the Dollar bringing the exchange rate back to 1.1143.