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by Fabrizio Patti 20 July 2020
Opening European markets in slight decline. Milan's Ftse Mib index drops by 0.65%, substantially in line with the reference indices of London, Frankfurt and Paris.

Eyes on the European summit, updated at 4pm. The BTP / Bund spread is under observation: on Friday it closed at 163 basis points, today at the opening it drops by 7 points, to 156

. Intesa Sanpaolo's offer in the public exchange offer to take over the Brescia-Bergamo bank. After the yes from some big Ubi shareholders on Friday evening, the stock goes up 11 percent. Bper, another bank involved in the game, drops by 0.87%. 

The markets week in Asia began with the recovery of the Shanghai stock exchange, which had fallen by 5% last week; today + 3.1%. The other Asian markets are less brilliant: Hong Kong (-0.5%) pays the increase in Covid-19 cases in the city, over 100 in the last few hours.

While on Tokyo (+ 0.09%) the drop in exports in June weighs: -26% on an annual basis; the figure is worse than expected and has sunken the shares of the auto sector.

Other securities in Piazza Affari Atlantia + 0.79%, Banco Bpm + 3%. Above all, the stocks of utilities and oil prices fell. Greater falls on the Ftse Mib for Enel -1.85%, Pirelli, -1.67%, Generali -1.55%, Unicredit -1.34%.