Piazza Affari is still in turmoil, even if the stock exchanges are holding back their enthusiasm as they await the first macro data arriving from the USA (the confidence index) and the inflation data that Germany will only announce at 14 pm. But it favors Bull l euro weakening to 1,039 against the dollar from 1,045 the day before.
A Milano the Ftse Mib index rose at 12 by 0,3% around 19.600. The other European markets are also on positive ground: Paris 0,4%, Frankfurt + 0,1% Madrid + 0,3%. London, in the first session of 2017, gained 0,3%.
Around 11,30 the yield differential between the BTP and the Bund on the 10-year segment stood at 158 basis points from 156 at the end of the session and, in parallel, the 1,82-year rate rose to 1,75% from XNUMX% of the last closure.
In December, the unemployment rate in Germany it remained stable at 6%, in line with analysts' forecasts. The focus, however, is on the preliminary reading of German inflation. According to the Intesa economists, on the basis of the data released so far by the individual Laender, the consumer price index should have risen by 0,6% on a monthly basis last month, with harmonized inflation at 1,3%. According to the consensus, however, the estimate should show an acceleration to 1,5% yoy in December, with strong growth compared to 0,8% in November.
On the first trading day of 2017 the crude hits an 18-month high on the hope that the agreement between OPEC and non-OPEC countries for production cuts, effective January 1, could curb excess supply. Brent leaps by 2,20% to 58,07 dollars a barrel, just below the high of 58,37 dollars. Wti Us gains 2,33% to $54,97. Eni is up 0,4%. Saipem +0,5%.
I fly banking European countries (Stoxx index +1,89%). Among individual stocks, Credit Suisse and Bank of Ireland are among the best in the European basket. In the Italian price list the rally of Banco BPM (+6,72% to 2,668 euros). The Bank is said to be ready to sell 640 million euros of non-performing loans. The maneuvers push the prices to form a hard core of stable members.
Among other banks, Unicredit loses 0,3%, Where's Banca + 3,5% Mediobanca + 1,9% Intesa Sanpaolo + 0,6%. Unipol Sai salt by 1,8% and Azimuth of 3%.
Avanza Fiat Chrysler (+2,9%) on the maximum since October 2015 at 9,22 euros. Yesterday evening the Ministry of Transport communicated that in December car registrations in Italy rose 13,05% year over year, to 124.438. Fiat Chrysler brands ended the month up 14,1% to 36.894 vehicles, market share at 29,65%. Brembo +1%. CNH Industrial +1%.
The utilities are heavy, penalized by the rise in bond yields: Enel -0,7%, Atlantia -1%. Mediaset (-2%) and Telecom Italia (-0,5%) also fell. Luxottica loses 1%.
