Square Business turned Upward, Michigan Confidence Index Rises
Day's volatility for European stock markets, cautious waiting for the G20 summit in Toronto. Paris has closed -0.48%, -0.90% in London, Madrid and Frankfurt -0.47% to -0.69%. Milan Stock Exchange was the only to close in positive terrain thanks to the rally in banks, with the FTSE +0.10% to 19,962 in Eb points while the All Share stood just below parity (-0.01% to 20,484 points).
The lists have extended losses in early afternoon, after the downward revision of U.S. GDP for the first quarter, before recovering a bit 'with the June index on consumer confidence as measured by the University of Michigan rose to 76 points compared to 73.6 points the previous month. This is the highest level since January 2008. Meanwhile, the greek government has approved a bill to revise its pension system, a cornerstone of the policy agenda set by EU and IMF.
List on the Milan bank showed a good seal with Unicredit (+1.68% to 1.937 million), Intesa Sanpaolo (+3.56% to 2.33 euros) and MPS (+4.3% to EUR 0.9815 ). Closing in negative ground instead for Fastweb, which marked a decrease of .63% to 12.62 euros. Today the deputy prosecutor general of the Supreme Court, Sante Spinaci, asked to confirm the arrest warrants issued last March 18 by a court of Rome against Silvio Scaglia, former CEO of Fastweb, and entrepreneur Gennaro Mokbel.
At the hearing before the Third Criminal Chamber, Spinach sought rejection of appeals by Scaglia and Mokbel, facing charges of conspiracy to tax evasion in an investigation into money laundering by 2 billion euros against the orders made against them. Scaglia, who is involved in an affair of big tax evasion of 365 million, is currently under house arrest, while Mokbel has been in prison. This morning began the hearing which will decide on the appeal of the order made by the lawyers of the suspects. The hearing in camera is still in progress at the end the judges will meet in closed session. The ruling is expected in late evening.
Too bad Fiat (-2.37% to 8.865 euros), which continues to suffer from uncertainties about Pomigliano. On the rest of the insurance asset list, rising 1 with Unipol, 66% at 0.583 euros, Fondiaria Sai, who scored a +1.45% to 8.025 euro today after the company's owner, Salvatore Ligresti, assured that they will not leave by Citylife, which set a wonderful work in which "I have absolute confidence." "We have stable partners, we are the soul of Citylife, why should we go?" Said the farmer.
Maire Tecnimont also rising (+0.63% to 2.8 million). Today the company has acquired through KTI Management, Technip Italy from the remaining 25% of the share capital of Technip KTI, an international process engineering based in Rome. KTI Management, which already owned 75% assumes that 100% of the capital. The investment incurred for the acquisition of the remaining 25% of Technip KTI was $ 20 million and was supported by funding from the medium and long term.