European stock exchanges worsen. Brexit progress, pound jump

2020-10-21T10:40:03.843Z

The performance of the equity markets in Europe worsened. Also in Milan which had opened with a slight rise, but then saw prices drop: -0.9% for the Ftse Mib index. The other European exchanges are in line with Milan: London -1.15%, Frankfurt -0.8%, Paris -1%. There are some sectors that are worse off, such as construction, -1.5% for the Euro Stoxx sector index for Europe. We always look at the United States and at the negotiations between Democrats and Republicans on stimulus measures for the economy. White House Chief of Staff Mark Meadows said progress has been made but there is still a long way to go. Futures anticipating Wall Street opening are now around par. In Piazza Affari, Atlantia highlights: - 1% after yesterday its board of directors judged the proposal for Autostrade per l'Italia from Cassa Depositi e Prestiti and the Blackstone and Macquarie funds to be inadequate. Among other stocks, Unipol did well today, + 2.33%. More discounts for Saipem, Pirelli (-3% for both) and Bper Banca (-4.2%). There has been progress on the front of the negotiations between the EU and the UK on Brexit. “Despite the difficulties we have faced, an agreement is within reach if both sides are willing to work constructively, if both sides are willing to compromise and if we are able to make progress in the coming days on the basis of legal texts and whether we will be ready in the next few days to resolve the critical points, the most delicate issues, ”EU chief negotiator Michel Barnier told the European Parliament. Following the announcement, the pound strengthened, both against the dollar (+ 0.8%) and against the euro. The euro / pound exchange rate is 0.9075, down by 0.6%.