Weak bags. Focus on Fca, the euro goes under 1.16 and then goes back



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low European bourses, while the quarterly season is in full swing. Yesterday, the Federal Reserve, in its Beige Book, rekindled fears over international politics pitting US President Donald Trump to black and white that the major US producers are worrying more and more of the 39, effect of rights. The report also indicated that
the US economy continued to grow, but a "moderate or modest" pace between June and early July. The main indices of the Old Continent lose their share. Even Milan, having tried to defend the positions, has taken the road down,. The gap between the construction and the Bund is 214 points.

Fca under the lens, while separating Magnetii Marelli

Fiat Chrysler Automobiles are tonic at Piazza Affari, while the market questions about the merger of Magneti Marelli, the day Il Sole 24 Ore revealed the first details of the operation.

The split, whose first steps have already been formalized, will be done through a Dutch vehicle. Yesterday, however, the company denied the badumption that it could arrive at the bridge of command as CEO, Vittorio Colao, outgoing director of the group of tlc, Vodafone, "As already stated several times by the company, it is expected that the change will occur in due time, with an internal solution following a specific decision-making process in progress for some time, "says the press release of the Italian-American group The Cnh Industrial and the Exor also rise in the galaxy Agnelli, while the Ferrari limit their values.

Banks weak, focus on Generali

Banks, after a stable start, weaken , continuing on the downtrend already taken the day before, Banco Bpm withdraws nearly 1%, after the launch of a secured bond for an amount of 500 million euros with a maturity of 5 years and 2 months. Banca Pop Er is also bad In addition, among the blue chips, Generali started well, but then reduced its profits, despite the attention of the insurance company, for the announcement of the signature of the company. an agreement with the Life Company Consolidation Group for the sale of its Generali Worldwide Insurance Company Limited and Generali Link interest for a base fee of 409 million euros, to which a potential amount of one million euros is added maximum of 10 million euros. Prysmian is volatile the day the capital increase of 500 million ends. On the other hand, Telecom Italia continues to lose points, while the date of the board of directors called to approve the semester was approaching. Operators fear that the data will be disappointing. This also scares the competition launched by the French Iliad, which two months after its debut on the Italian TV market has already reached one million users. Company prices have lost about 30% only since the beginning of May.

The euro at the threshold of $ 1.16, still crude oil

On the currency front, the euro continues to weaken against the greenback: in the morning it makes also a dip below the threshold of $ 1.16, around which oscillates nervously (follow the main crosses here). The price of crude oil fell in the late morning: (follow Brent and Wti).

(Il Sole 24 Ore Radiocor)

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