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The galaxy Agnelli, after the dramatic release of Sergio Marchionne's stage, burned in one session by more than 2.3 billion euros. All in one session, however, weak for the stock markets of the Old Continent, overwhelmed by US-Iranian geopolitical tensions and the persistent fear of homework that also penalize Wall Street. In Piazza Affari, the worst of the FTSE MIB is Ferrari (-4.9%), which will have to present its new business plan in September, followed by Exor (-3.2%), Stmicroelectron (-2.2%) and Cnh Industrial. (-1.7%) while Fiat Chrysler Automobiles – which also records the resignation of the head of Europe, Alfredo Altavilla – limits losses to -1.5% after a shock at -5%. Enel sells 3.6%, but dividends ex-dividends. Among the best, however, Leonardo – Finmeccanica who recovers 1.5% after the ground lost Friday, Mediobanca (+ 1.3%) and Unicredit (+ 0.4%) after the European Banking Authority responded to the demands of the speculative fund Caius Capital and decided not to open an investigation on the issue of cash balances. On the rest of the list, Banca Carige lost 4.6% by paying the ECB's rejection on the investment plan. On the currency front, the euro is strengthening on the greenback and has established at 1.171 dollar, after opening at 1.1718 dollar, against 1.177 of the closing on Friday. The single currency trades at 130.31 yen (130.94) while the dollar / yen exchange rate is at 111.39. Oil prices rise again: WTI futures in September rose 0.47% to $ 68.58 per barrel
After the release of Sergio Marchionne, the group's head of European operations, Alfredo Altavilla, he resigned, as planned by milanofinanza.it. This is the first consequence of the appointment of Mike Manley, the boss of the Jeep and Ram brand, to Marchionne's estate. Altavilla, along with Richard Palmer, CFO of the group, and Pietro Gorlier, managing director of Marelli, was one of the candidates to succeed the Italian-Italian manager. He joined Fiat in 1990, in charge of strategic planning and product development. In 1995, he was appointed director of the Fiat Auto Office in Beijing. Four years later, he became responsible for activities in Asia. The day after the revolution at the top of the FCA, the new CEO Mike Manley is already at work in Turin. The strategies of the group, tomorrow and Tuesday, will be on the table of the Group Executive Council (GEC), the group's decision-making body, made up of the heads of the operational sectors and heads of functions. In Lingotto, there will be about twenty senior leaders who, in recent years, have referred to Sergio Marchionne and who will now be relying on Manley: it is the first executive meeting of the new era, but it does not have the same effect. There are no overwhelming decisions to make.
The choice is to go ahead with the industrial plan presented on June 1 in Balocco, the word of order is continuity. The lighthouses are also centered on Piazza Affari to understand what will be, tomorrow at reopening, the impact of the breakthrough on the group's titles. Then, on Wednesday, there will be approval of the accounts for the second quarter of 2018, with the announced zeroing of the debt. In Manley, unions are also calling for accelerated investment to ensure full employment while keeping central Italy in the strategy of the three major brands, Jeep, Alfa Romeo and Maserati. The conditions of Marchionne – despite the maximum reserve, flees an indiscretion – are serious, seem irreversible: the manager is admitted to intensive care at the University Hospital Zurich. At his side the companion Manuela. The news also struck the President of the Republic Sergio Mattarella who heard the leaders of the FCA. John Elkann is sad who, immediately after the appointment of Manley, wrote to the employees of the group. "It's the most difficult letter I've ever written, and we'll be forever grateful to Sergio for the results he's got and for doing what seemed impossible," says the president. FCA.
He adds, "I am sure that you will provide maximum support to Mike, working with him and with the management team to achieve the goals of the 2018-2022 business plan with the same commitment and integrity that have guided us to this point. "Marchionne's health news has also affected the political world, and I am saddened by the news that Marchionne is sick and in such a difficult time. I believe that we must respect the pain of his family members, his dearest friends and his collaborators, "says Luigi Di Maio, deputy prime minister and minister with the manager he had contacts on the day. the future of the electric car. "He is certainly the number one Italian managers, he showed intuition, courage, foresight, competence, guaranteed the future to a large Italian company like Fiat in a It was a difficult moment and he bravely headed on the path of internationalization, "commented Silvio Berlusconi
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