Europe in decline with German production

Another weak opening for European stock markets. Milan, the worst performer yesterday, lost 0.45% at the open, similar to London, Paris and Frankfurt.

We are starting to count down the days until the ECB’s next interest rate decision next Thursday. Yesterday the governor of the Bank of Italy VIsco said that we could be close to the moment when the pressure stops.

However, fears about economic data from Germany remain: industrial production fell 0.8% in July, worse than analysts expected.

Banking risk is once again the subject of discussion in the corporate market, with the move by Unipoil, which has requested approval for the acquisition of Popolare di Sondrio.

Analysts see this as the way forward for a possible future integration between Sondrio and Bper, in which Unipol already owns 19%. MPS gives in and would therefore have one less applicant.

Oil slightly in the red: Brent at $90.3 per barrel.

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