Wednesday , October 27 2021

Volkswagen's alarms and duties keep the bags. Piazza Afari – 0.5% coupon effect


market day

The main financial centers squeezed amid a row over US-Chinese taxes and fears of a recurrence of protests in Hong Kong are closing in on red. Engine segment sales following Volkswagen's profit warning for profit and sales

by Enrico Mile and Andrea Fontana

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(Alessandro Serrano ”/ AGC)

2 & # 39; reading

The strong sales of car stocks triggered by Volkswagen's profit warning (-4.9% in Frankfurt), combined with a return to pessimism, at least in Beijing, on the odds of a deal with Washington on trade and over the weekend the violence in Hong Kong made the European stock markets slip in the first week session: however, in the last minutes of trading, all the lists reduced their obligations. The worst performance of Piazza Afari is due to the technical factor, namely the reduced dividend for five big names (MediBank, Postano Ethanele, Records, Tennaris and Terna) which participated with 0.18% of the index in the beginning: FTSE MIB closed the trading with – 0.53%. Net of the coupon effect, therefore, the contraction in Milan would in any case be higher than that recorded at the end of other price lists, which fell by about 0.2% compared to Paris and Frankfurt, while Madrid and London at eventually returned to equilibrium.

The case of the day in Europe is the battle for market companies: in the focus of Bolsas and Mercados Espanolas (+ 38%) facing Euronext (which manages the lists in Paris, Amsterdam, Brussels, Lisbon, Dublin and Oslo) and the Swiss Six Group, which controls the list in Schleswig.

On the effect of the coupon "MediBank", Chka descends with the alert of Volkswagen
In Milan, -3.2% MediBank (which, however, removed a 4.4% dividend for closing the price on Friday). Giu Ferragamo (-3%) and Cnh Industrial (-2.7%). Fiat Chrysler Automobiles lost 2.8% in the car industry. Diazazine is the best (+ 1.2%) thanks to the appeal of the Kijagen competition. Close to -17.7% for Trevi after the Bologna court rejected approval of a debt restructuring agreement.

The euro is rising against the dollar. A surprise Trump-Powell summit
On the currency front, the euro strengthened to $ 1,108 ($ 1,103 on Friday). Oil dropped to $ 56.8 a barrel in December WTI and $ 62.3 a barrel in January-Brent.

Spreads closed slightly at 163, a ten-year yield of 1.30% Slight closing due to the spread between the BTP and the Bund on the secondary MTS bond market. At the end of the session, the yield ratio between the 10-year benchmark BTp (Isin IT0005383309) and the German equivalent duration was at 163 basis points, 3 basis points lower than the end of Friday. The ten-year yield of the Italians is marked at 1.30% from 1.33% of the last reference. The spread between the Bonds and Greek Bonds is still higher, at 177 basis points with the Athens Bonds yielding 1,437 percent.

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