Piazza Affari in red. STM under pressure, good timing, waiting for Carige. FTSE MIB -0.45%.
* FTSE MIB Points -0.45%, FTSE Italy All-Share -0.50%, FTSE Italy Mid Cap -0.86%, FTSE Italy STAR -0.56%.
Negative European stock markets: * Euro Stoxx 50 -0.5%, FTSE 100 -0.4%, DAX -1.2%, CAC 40 -0.4%, IBEX 35 + 0.1%.
* A few minutes before Wall Street opened, the terms of the most important US indices are down: * S & P 500 -0.2%, Nasdaq Composite -0.5%, Dow Jones Industrial -0.2%. A party day in the US celebrates veteran's day. Stock markets are regularly open while SIFMA (Securities Industry and Financial Markets Association) recommends that the US government bond market be closed on holidays.
STMicroelectronics (-4.5%) in sharp decline with Infineon at -9%. The German group left the fourth quarter of the year with excellent data. The problems will see the future: the guidance on revenue growth growth in the 2018-2019 financial year is included in the 9-13 percent range, but highlights the risk factors associated with the signs of lowering global economy. Furthermore, Infineon has announced that it has allocated an additional EUR 159 million to cover the costs that will eventually arise for an external settlement.
* Bank decreases: FTSE Italia Banche index estimates -1.2%. Man Unicredit (-1.5%) and Intesa Sanpaolo (-1.3%). Banca Carige is suspended * from negotiations waiting for press releases (before Borsa Italiana's decision, the stock at the volatility auction was theoretically -10.81%). According to rumors, the genoa institute will start a capital increase of almost 400 million euros. The resources should be shared by the shareholders and partly by the Interbank Deposit Protection Fund, whose board will meet today to decide. Remember that at the end of last week rumors spread on a global agreement (under the Italian bank account) among the five major Italian banks (Intesa Sanpaolo, UniCredit, Banca MPS, UBI Banca and Banco BPM) for a provision of extraordinary 2.75 billion euro to fund the fund.