The stock market rally continues in Europe after the good news from the two Korea (agreement for the participation of Kim's team in the Olympics) and the primacy of Tokyo, never so high since 1991. The Old Continent is no different: in November the employment rate, including fixed-term contracts, rose to 58,4% (+0,2 percentage points), reaching a number of employed persons above the pre-crisis peak. Meanwhile German industry soars: production rose by 3,4% in November, better than expected (+1,8%).
Also thanks to these indications, the price lists are proceeding in positive territory. TO Milano the Ftse Mib index rose by around 0,6%, one step away from the wall of 23 points. Piazza Affari thus pushes itself to the highs of the last two months.
On the rise Paris (+ 0,5%), Madrid (+ 0,4%), Frankfurt (+0,2%) and, outside the euro area, London e Zurich (+ 0,4%).
Il dollar rebounds for the third consecutive day and goes below the 1,20 threshold against theeuro: in the first stages the cross is at 1,193. Fly it yen (112,88 against the dollar) after the BoJ's decision to reduce purchases of government bonds on the long stretch.
Il crude Brent-type oil rose again today by 0,2%, reaching 67,91 dollars a barrel. Among the oil companies, Eni is stable at parity -0,1%, Saipem earn 1%.
The march of continues in Piazza Affari Fiat Chrysler (+1,34%), at 18,36 euros: the brilliant +22% accumulated in the early stages of 2018 is consolidated. This morning Barclays adjusted its target price to 21 euros from 18 euros. Overweight recommendation confirmed.
The new historical record of FinecoBank (+4% to 9,255 euros). This morning Kepler-Cheuvreux strengthened the Buy rating by raising the target price to 10 euros from 8,80 euros.
Historical primacy also for Brunello Cucinelli: +3,5%, to 29,55 euros. +8% since the beginning of the year, after closing 2017 with +33%. The high fashion group closed the preliminary accounts for 2017 with net revenues of 503,6 million (+10,4% at current exchange rates) with a positive increase in Italy (+11,2%) and in the main international markets (in Greater China +36,2%). Ferragamo retreats by 2%: UBS has cut its rating on Sell.
Cerved (+1,52%) touched the historical maximum for the second day in a row with a price of 11,41 euros. Pushing towards a new record is the news that the group has finalized the agreement for a long-term industrial partnership for the management of non-performing loans and unlikely to pay loans of the Banca Popolare di Bari Group. 1,1 billion euro of problem loans to which 75% of future non-performing flows will be added.
Big banks on the rise: Unicredit +0,9%. Moody's confirmed Unicredit's rating and revised the outlook upwards to 'positive' from 'stable' reflecting growing confidence that the bank can meet its 2019 targets.
This morning Mediobanca raised its target price up Intesa Sanpaolo (+0,4%) to 3 euros from 2,8 euros, confirming the Neutral rating.
Highlights too Atlantia (+0,44%) after the CNMV, the Spanish Consob decided to maintain the authorization granted to the Italian group for the offer on Abertis.
Unchanged Telecom Italy.
