Piazza Affari accelerates downwards despite Wall STreet marks the new historical tops. The Ftse Mib is starting to close near the lows of the day and stands out as one of the worst European indices today with -0.81% at 25.304 points (the German Dax only scores -0.2%).
Caution on EU markets mainly dictated by renewed concerns on the epidemic front for the rapid spread of the Delta Variant which led to a new lockdown in Sydney, restrictive measures in South Africa and record deaths in Russia.
The banks in Milan today are struggling with drops of 2.38% for Unicredit, -2.55% for Bper and 1.7% for Intesa Sanpaolo. Over the weekend, the CEO of Intesa, Carlo Messina, advocated further concentrations to create at least three poles “.
Banco BPM also hurt (-2.37%) after bancha redefined the agreements in the bancassurance sector of the JV Bipiemme Vita, 81% owned by Covéa. The redefinition of the agreement provides for a call in favor of Banco BPM for the acquisition of 100% of the JV in the period between 8 September 2021 and 31 December 2023. In the event of non-exercise, the partnership may continue until the end of 2028. In this way, according to Equita analysts, Banco BPM guarantees greater strategic flexibility in the context of the banking sector consolidation process.
Among the big drops of over 2% for ENI, -2.65% Tenaris and -1.94% Saipem.