Piazza Affari closes in red, the debacle of Tenaris

Weekly round trip with a minus sign for Piazza Affari. The Fse Mib index is sold at 0.18% to 19.115 points. In Italy, the expectation of developments on the front of the 2019 Maneuver remains high, the government working to review the number of maneuvers, partially meeting the demands of Brussels. In an interview, Vice President of the European Commission, Valdis Dombrovskis, warned that a "substantial correction" of public accounts is needed and that a 0.2% deposit "is not enough".
The wait for the next G20 remains high. Donald Trump emphasized the mood of the markets by saying that there was "a good chance" that the US and China will reach an agreement. The US president will meet with his Chinese counterpart Xi Jinping at the G20 meeting to be held in Buenos Aires this weekend.
Today, in Piazza Affari, the debacle of Tenaris occurs with a fall of more than 7% to 10.9 euros. Last night, we learned the act of accusation in Argentina of the CEO and President of Tenaris, Paolo Rocca. The charge was brought before the court of first instance investigating the payments made by Techint Group in 2008 to an official of the Argentine government. The "case of laptops" refers to alleged bribes paid by the company to obtain government contracts from former president Cristina Fernandez Kirchner. The Tenaris Board of Directors has confirmed its full support for its President and Chief Executive Officer. Rocca will continue to fulfill his duties.

On the other side of the square, Banco BPM was again a day of glory with a salary of 4.39% to 2.10 € under the pressure of new rumors regarding the sale of NPL. According to Il Messaggero, Npl's € 8 billion portfolio should be a mix between doBank, Fortress, Illimity and Fonspa-Elliott. The decision will be made tomorrow by the board of directors, which should also approve the agreement with AgosDucato providing for the sale of ProFamily and a ten-year distribution agreement.
Tim (-1.145%) fell after the spokesperson of Vivendi, the largest shareholder in the telecommunications sector, asked for the convening of the shareholders' meeting for the appointment of auditors, stating that Assembly should be convened quickly.
Finally, Luxottica (-1.19% to 49.58 €). The public exchange offer (OPS) of Luxottica shares in EssilorLuxottica shares is now completed. The offer aims to remove Luxottica from the Italian market while remaining EssilorLuxottica listed on the Euronext stock exchange in Paris.