PARIS / LONDON / MILAN (avp international) – The recent escalation of the Italian budget dispute with the European Union (EU) again put pressure on the European stock market on Wednesday. After winning the previous day, the EuroStokk 50 lost 0.60 percent to 3205.36 points. Temporary ranges in the afternoon after a positive start at the stock exchange in New York were just a flame of fire.
In Milan, the Italian index FTSE MIB lost 0.78 percent to 19,077.47 points. Italian Interior Minister Matteo Salvini showed on Wednesday Wednesday that he was unaccounted for by the EU's possible criminal measures. Earlier, Deputy Prime Minister Luigi Di Maio said after a government meeting that the government's budget would not be changed. The EU Commission rejected the government budget proposal in Rome in a historically unique process and requested an audit. In response to the commission, the deadline was on Tuesday at midnight.
For the French Cac 40, on Wednesday it fell 0.65 percent to 5068.85 points. The British FTSE 100 dropped 0.28 percent to 7033.79 points. The British Cabinet last considered the draft Brekit agreement.
As for Italy, market analyst Craig Erlam from the Oanda dealer, meanwhile, does not expect a withdrawal from the European Commission, as otherwise a precedent for other countries would appear. In return, the Commission could talk again next week. Until then, investors should continue to act very nervously.
In Milan, shares of financial institutions Banca Generali, Bper Banca, Ubi Banca and Banco Bpm lost between 3.2 and 2.1 percent. They suffered a sharp fall in the securities of the Italian government, which are calm in the deposits of many banks.
Tarolica in the FTSE MIB was a Mediaset action with a loss of nearly 7 percent. After the media company was disappointed with its advertising prospects, various analysts have now lowered their pricing.
In Zurich, Zur Rose's pharmaceutical postal services grew by 9 percent. Earlier, the Dutch pharmacy from the online pharmacy store in Venlo issued a profit warning. Analyst Georg Orgonas of Berenberg Bank pointed to pressure on prices in the industry.
The positive exclamation point was set by Alstom: With a record backward task, the French were in good shape ahead of the planned driver association with the German rival Siemens. The Group recorded a strong increase in sales and profits. Alstom's shares increased by more than 3%.
From the perspective of industry, the value of European cars show a slight recovery of plus 0.79 percent. Portfolio manager Thomas Altmann of KC Partners believes that the US signals are good news. According to press reports, those responsible there still do not want to impose new taxes on importing a vehicle. Perhaps this move already points to a shift in the trade policy of US President Donald Trump, Altmann said.
Stokk 600's worst sector review was stocks with minus 1.65 percent. In Riou, Rio Tinto were at the bottom with minus 3.54 percent.
On the other hand, Scottish & Southern Energi (SSE) securities grew by 5.26 percent at business prices. The European utility sector was the second best with plus 0.72 percent. In German Dac, the leaves of Eon and RVE received 3.39 percent and 0.75 percent, respectively. Analyst Alberto Gandolfi of Goldman Sachs positively evaluates the nine-month figures of both companies and praised the development of net debt. / Ajk / tos