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by Fabrizio Patti 10 July 2020
Atlantia is still under observation today: yesterday -8%, opening + 3%. The government gave the company until Sunday to present a new proposal on highway concessions.

More generally, the increase in infections and hospitalizations for Covid-19, especially in the United States and in particular in States such as Florida, weighs on the stock exchanges. 
London and Paris -0.3%, Frankfurt -0.2%. He holds the Ftse Mib in Milan, + 0.18% after a declining start. 

The slight improvement in the indices follows the figure for industrial production in France, which rose beyond expectations in May. At 10 the data on industrial production in Italy.  

In Piazza Affari, banks are just below parity, a sector on which the rise in the BTP Bund spread weighs: it is 171 basis points, +9 compared to yesterday, above all due to the drop in the yield of the German Bund. Purchases on the Bund signal concern about the economic trend, because the German 10-year security is considered one of the "safe havens". 

Among the 40 Ftse Mib stocks, the highest increases, in addition to Atlantia, for StMicroelectronics (+ 2.5%) and Interpump (+ 1.7%). Greater reductions for Pirelli (-2%), Leonardo (-1.50%) and Tenaris (-1%).
Yesterday a day of sales for Piazza Affari (Ftse Mib -1.98%), with a trend that worsened after the opening of Wall Street. New York's Dow Jones closed 1.39 percent, driven lower by stocks from stores such as Wallgreens, -7.7%, and the travel sector. 

On the other hand, the race for technological titles seems unassailable. Yesterday fifth day of records for the Nasdaq index, due to the run by Amazon and Tesla.

The Shanghai stock exchange is also down this morning, after 8 consecutive hikes and Hong Kong, where there are new outbreaks and schools will be closed early.

In Shanghai in recent days, growth has been driven by the purchases of small savers driven to invest by loans granted by online platforms. The government wants to limit this dynamic, which is risky, and, as Bloomberg reports, has ordered some state-controlled pension funds to sell shares of the companies that have gone too far in recent weeks.