PARIS / LONDON / MILAN (international fuss) – Italy's recent rift in the budget dispute with the European Union (EU) has put pressure on European stock markets again on Wednesday. Following the previous day's gains, the EuroStoxx 50 lost 0.60% to hit 3205.36 points. After a positive start in the New York Stock Exchange, the gap was just a fire flame.
In Milan, the Italian index FTSE MIB fell 0.78 percent to 19,077.47 points. Italian Interior Minister Matteo Salvini showed on Wednesday that the European Union was not pushed by possible punitive measures. Earlier, Deputy Prime Minister Luigi Di Maio said the government's budgets would not be changed after a Cabinet meeting. The EU Commission rejected the budget proposal of the government in Rome in a historically unique process and requested revision. For an answer to the commission, the last one was midnight on Tuesday.
French Cacho fell 50 percent to 5068.85 on Wednesday, down 0.65 percent. The British FTSE 100 down 70% to hit a new record. The British Cabinet discussed the draft Brexit agreement.
On the other hand, Craig Erlam, market analyst with Oanda as a trading house for Italy, does not expect to be withdrawn from the European Commission since this would constitute a precedent for other countries. In return, the Commission could speak again next week. Until then, investors should continue to be very tense.
In Milan, the shares of financial institutions such as Banca General, Bper Banca, Ubi Banca and Banco Bpm were lost between 3.2 percent and 2.1 percent. They suffered a sharp decline in Italian government securities, which were stagnant in the deposits of many banks.
The taillight in the FTSE MIB was shared with a loss of almost 7 per cent of Mediaset. After the media company disappointed its image in advertising, several analysts lowered their price targets.
In Zurich, the mail-order pharmacy Zur Rose's papers shrank by 9 percent. Previously, Venlo published a profit warning from the Dutch pharmacy based on the online pharmacy store pharmacy. Analyst Georg Orgonas, analyst at Berenberg Bank, pointed to the price pressure in the sector.
A positive exclamation mark formed Alstom: Before the planned train alliance with the French record, Siemens, the French were in good shape with a back-to-back backlog. The group posted a strong increase in sales and profits. The shares of Alstom therefore increased by more than 3 percent.
In terms of the sector, European car values recorded a slight recovery of 0.79%. The portfolio manager of QC Partners, Thomas Altmann, is receiving signals from the good news of the United States. According to media reports, responsible people still do not want to bring new import taxes on vehicles. Altmann says that the move has already suggested a return to US President Donald Trump's trade policy.
The weakest sector of the Stoxx 600 overview was commodity stocks with a minus 1.65 percent. Rio Tinto at Rio, the lowest level with 3.54 percent.
On the other hand, the benefits of Scottish and Southern Energy (SSE) increased 5.26% for securities. The European public services sector was the second-best with 0.72 percent. In the German Dax, Eon and RWE newspapers rose 3.39 percent and 0.75 percent, respectively. Analyst Alberto Gandolfi, Goldman Sachs, rated the nine-month figures of both companies as positive and praised the development of net debt./ajx/tos'