Piazza Affari updates the highs. The Milan Stock Exchange hits a new record since August 2015 in the early afternoon: the index FtseMib it rises by 0,3% to 23.514 points. Today could be the ninth consecutive rising session. Modestly down Paris (-0,05%), Frankfurt (-0,24%). Almost flat outside the euro area London e Zurich, both below 0,15%. In positive ground only Madrid (+ 0,26%).
US finance is on vacation for the recurrence of Martin Luther King day but the descent of the dollar, traded at 1,227 up against the euro at the highs of the last three years, on which the words of the governor of the Bundesbank, Jens Weidmann, who defined the possibility of an immediate rise in the cost of money as low.
The bond market was little moved. Waist German 0,56%, BTP 1,98%. Also this week promises to be full of offers on the primary. Spain will offer medium to long-term bonds on Thursday, as will Belgium.
Il crude it stands near $70 in the London morning, just below the three-year highs. But several analysts are predicting that the 13% year-to-date rally could peter out in the near term due to increased production in North America. The Brent trading at 69,76 dollars a barrel with a drop of 0,16%. The US crude it dropped 0,09% to 64,24 dollars.
The energetic ones in Piazza Affari are in good health: Saipem +1,6%, updates the highs of the last 52 weeks. It also advances Tenaris (+1,1%). Credit Suisse upgrades rating to Neutral. Eni +0,2%, Deutsche Bank raises its target to 15,50 euros.
It sinks Saras (-9,25% to 1,77 euros). This morning Barclays lowered the target price to 1,60 euros from 2,0 euros. Judgment remains Underweight. More drastic SocGen, which cut the recommendation to Sell, from Hold, leaving the target unchanged at 1,80 euros.
At the top of the list it shines Azimuth (+8%). During the agents' convention underway in Montecarlo, the top management of the asset management company stated that 2017 will close with at least 215 million euros in profit: analysts had expected an average of 200 million euros. The anticipations on the dividend are also better than expected, estimated at around 2%, almost double the estimates. Banca Mediolanum is up 1%.
A few hours after the press meeting of Sergio Marchionne at the Detroit show, Bloomberg publishes an interview with the CEO of Fiat Chrysler (+1,7%). Thanks to the Jeep brand, says Marchionne, it is "possible" that Fiat Chrysler Automobiles will double its profits by 2022. The tax reform approved by US President Donald Trump before Christmas could also give a further boost to profits. “There is nothing – declared the manager – that makes me believe that one SUV out of five cannot be a Jeep”, which is equivalent to about 5 million deliveries a year. But the goal will be achieved by the successor: “If you want to do this job really well, it wears you out. I am tired. I want to do something else”, perhaps in Exor as well as in Ferrari. As for the consolidation of the sector, Marchionne seems resigned: "If nobody wants you, celibacy could be the only option."
braking for Ferrari (-0,5%). Marchione says he wants to remain at the top of the company until the completion of the conversion plan into a champion of luxury. The same manager confirms that he will be on the board of directors of Exor (-0,8%). Cnh Industrial -2%.
Weak banks: Understanding e Unicredit -0,5%. salt Leonardo +0,5%. The company is the leader of the winning consortium of an EU tender for the supply of technologies for maritime safety.
It flies between mid caps Snaitech (+5%): a daily newspaper in the face of very positive estimates on sports betting in 2018.
