Business square opens in decline. Ubi falls after the frost on the Intesa offer

2020-02-20T18:49:23.752Z

Weak start for European stock exchanges, after yesterday's climb. In Milan the main index, the Ftse Mib, marks -0.42%, London just above parity, Frankfurt -0.27%, Paris -0.14%. The mixed performance of the Asian stock markets influenced them. The decrease in coronavirus infections in Hubei province and the rate cut by the Chinese central bank supported the Shanghai (+ 1.84%) and Shenzhen (+ 2.43%) stock exchanges, Tokyo also (+ 0.34%). While the increase in cases in South Korea weighs on the Seoul stock exchange (-0.67%) Yesterday the International Monetary Fund, with the director general Kristalina Georgieva, spoke of the recovery of the world economy "fragile and probably scarce consistency "also due to coronavirus. Europe and Asia therefore did not follow Wall Street, which yesterday hit new records with the S & P500 and Nasdaq indices. Bank stocks are also under observation today, which rose 24% since the beginning of the year. Yesterday the Ubi CEO, Victor Massiah, responded coldly to the Intesa Sanpaolo purchase offer: a complex and not at all obvious process, he wrote in a letter to the employees. Last night, the advisor was identified in Credit Suisse to assess the adequacy of Intesa Sanpaolo's offer. In the past week the stock has risen 31 percent. Among the other banks, today Intesa Sanpaolo -0.31%, Unicredit -0.23%, Banco Bpm + 0.37%. The bank also rose, + 1.11% after the drops in recent days (-6.9% in the last week). The Emilia Romagna bank would purchase 400-500 branches from Intesa Sanpaolo if the Ops on Ubi went through. Unipol, shareholder of Bper with almost 20%, falls by 0.84%. Other securities on Ftse Mib include higher increases for Nexi (+ 2.10%) and Moncler (+ 1.02%). Among the biggest drops for Azimut (-1.90%) (-2.38%) and Pirelli (-1.17%). A sharp drop for Atlantia (-2.34%): the newspaper La Repubblica wrote that the group controlled by the Benetton family refused a global revision of the concessions proposed by the government. Fibrillations in the government do not currently affect the spread between the BTP and the Bund, stable at 134 basis points.