Closing below 25 thousand points for our Ftse Mib, weighed down by the new indications coming from China, where the Statistics Office have expressed concern about the many threats to the economy, and by the numbers on the spread of the virus. The rumor about an alleged agreement to regulate oil production led to another negative session in crude oil prices, down 0.5% to 74.4 dollars a barrel.
On the Ftse Mib, which closed at 24,875.5 points (-1.26%), the weakness of Brent fuel triggered sales in the energy sector (-1.77% of Tenaris, -1.76% of Saipem and -1. , 14% for Eni). It also benefited STMicroelectronics (-2.14%) while Stellantis posted -1.43%.
The banking sector was also weak (-1.25% of Intesa Sanpaolo, -1.02% of UniCredit) despite rumors that the Treasury is considering measures to facilitate the management of loans classified as unlikely to pay.
On the complete, two speeds for Brunello Cucinelli (-4.25%), on the news that the family holding has placed almost 1% of the capital, and Giglio Group (+ 1%). The latter announced that it has signed a framework agreement for commercial cooperation with the multinational Greenland Global Commodity Trading Hub Group, a Chinese state-owned company based in Shanghai.
“Giglio Group – the company note reports – starts operations between Salotto Brera and the Greenland Group buying office, which thus intends to promote general trade and the duty-free market in China, especially in the Province of Hainan”.
On the government bond front, the spread increased by more than 3 percentage points to 110 basis points. (In collaboration with money.it).