By Fabrizio Patti
September 18, 2020 The main stock market indices are down in Europe. They follow the decline of Wall Street yesterday, while in the night the Asian markets closed or are starting to close with slight rises.
The Ftse Mib in Milan marks -0.37%. On a weekly basis the balance is negative by 0.8%.
In evidence Tim and Enel, involved in the match of the single network for broadband. After yesterday's drops, Enel is on the rise (+ 0.45%), while Tim is slightly down (-0.30%).
Yesterday press indiscretions spoke of European Antitrust concerns regarding the creation of a single network. However, the European Commission through a spokesperson denied that there is a veto on the operation. "We are closely following the developments on the network - said the spokesperson, taken up by Askanews - but at the moment [the matter] has not been notified to the Directorate General for Competition."
Among other titles, greater increases for Diasorin (+2, 7%) and Nexi (+ 2%), higher discounts for Leonardo (-2.34%) and Atlantia (-2.94%). Fca also falls: the shareholders of FCA and PSA have established that for six months, after the merger, they will not be able to sell the shares of Faurecia. 46% of the company controlled by Psa will be distributed in equal parts to the shareholders of FCA and PSA: a recent agreement that accompanied the decision to reduce the extra dividend for FCA shareholders from 5.5 to 2.9 billion euros. In
the spotlight the sale of Borsa Italia. The London Stock Exchange Group, owner of Piazza Affari, wrote in one night that it is in exclusive negotiations with Euronext, which it manages among others the Paris and Amsterdam stock exchanges, as part of the stock exchange sale Italian. "There can be no certainty - continues the note - that a transaction will result from these discussions and any potential sale will depend on the outcome of the review of the transaction with Refinitiv by the European Commission and the closing of the transaction in accordance with its terms".
Today is expected a day with a lot of volatility on the markets, because there is the expiration, like every third Friday at the end of the quarter, of various derivative contracts and the need for investors to decide whether to renew them or close their exposures. The greatest volatility should occur in correspondence with the closing of the American stock exchanges.
For the Wall Street indices, the rises in the first part of the week were almost entirely offset by the falls in the last two sessions. Yesterday the worst data forecasts on the labor market and on new construction have to do with it. But above all, the fears raised by the governor of the American central bank, Jerome Powell, on the economic outlook.