A low-key weekly close is looming for European equity markets. TO Milano the Ftse Mib index slowed down to -0,13%, around 20.300. The other price lists starting from are also weak Paris e Madrid, both below 0,3%. Almost flat Frankfurt. More marked the bending of London (-0,5%), held back by the crisis in South Africa.
The Basic Resources index dropped 1,7%, the worst sector today following the drop in copper prices. Anglo American mining is the weakest this morning down 3,6%. Old Mutual is the worst stock on the list, with a drop of more than 7% following the decline in the rand and South African bonds, due to a government reshuffle wanted by President Jacob Zuma, in which the Finance Minister was ousted.
It was confirmed by the drop ininflation in the Eurozone. In March, according to Eurostat's preliminary estimate, the average growth in consumer prices fell to 1,5% from the +2% recorded in February. The spike in consumer prices has revealed itself, as diagnosed by Mario Draghi's staff, as a purely extemporaneous phenomenon due to the volatile components of fresh food and energy. Thus the pressures on the ECB regarding the continuation of the economic stimulus plan are eased. The euro weakens against the dollar to 1,068.
The nodes of trade agreements are more urgent. The US president Donald Trump today he will sign a measure aimed at investigating the trade abuses underlying the enormous US trade deficit and at clamping down on the non-payments of anti-dumping duties and anti-subsidies on imports. This was reported by US Commerce Secretary Wilbur Ross, as Trump prepares next week's meeting with Chinese President Xi, in which trade issues are expected to be one of the major sources of tension.
The BTPs were slightly weaker in the morning: the spread against the Bund marks 199 basis points from 198, while the ten-year June 2027 pays 2,316% from 2,305%. In 2016, as part of the Qe of the Eurosystem, Bankitalia purchased Italian government bonds for 115 billion. At the end of the year, the portfolio of securities purchased for this purpose thus rose to 186 billion.
Oil down slightly with Brent which slips to 52,8 dollars a barrel (-0,1%). They go down Eni (-0,5%) and other oil stocks: Saipem (-0,6%) And Tenaris (-0,7%). L'gold it is stable at 1,242 dollars an ounce.
The Milanese price list presents limited price variations with rather rarefied exchanges. Fiat Chrysler marks a slight decrease of 0,1%. Moody's confirmed its Ba3 rating and improved its outlook from stable to positive. The rating could see an increase, says the note, if the improvement in the group's margins continues thanks to the positive trend in Europe and the USA. stm unchanged, Leonardo slipped by 0,8%. Earn Buzzi (+0,9%).
They are unchanged Telecom Italy (Giuseppe Recchi is preparing to become president of Inwit) and Enel. US broker Raymond James likes the stock of the electricity group, who raised the target price to 4,85 euros with a Strong Buy recommendation.
Among the banks, Intesa rises by 0,1%, Unicredit + 0,1% Bpm bank +0,5%. Back off Mediobanca (-1%). Down Unipol (-1%). Off the main list, titles such as Stefanel (+ 6,41%) and the Sun 24 Hours (+5,51%), for weeks at the center of speculative movements.
The IPO has ended Unieuro, which will debut on the list on April 4th. The placement took place at a price of 11 euros, down on the initial range of 13-16,5 euros per share. 31,8% was placed, which will rise to 35% with the exercise of the greenshoe.
