The European stock exchanges moved little in anticipation of Donald Trump's speech to Congress. Markets expect Trump to leave the rhetorical announcements behind and reveal some details of the announced tax reform.
In Piazza Affari, the Ftse Mib index rises by 0,36%. Paris also weakens +0,09%), in balance Frankfurt -0,01%. The best is Madrid +0,8%. London tied. The pan-European index gains about 2,7% in February after the negative balance in January.
Inflation is rising in Italy: in February the consumer price index rose by 0,3% on a quarterly basis and by 1,5% on the same period of the previous year. Live especially food and energy. Consensus expectations were lower at +0,1% and +0,3%. In February, consumer prices rose by 1,4% compared to a year earlier, less than the expectations of economists (+1,7%), slowing down from the +1,6% in January.
The BTP trades at 2,10%, from 2,12% yesterday while the spread with the same maturity of the Bund stands at 192 basis points from 195 at the previous closing.
The yield on the 0,20-year bund rises above 2%. But this morning Germany placed the 0,92-year Schatz at an all-time low: -XNUMX%.
The performance of the dollar and gold was flat (yesterday at new highs from mid-November at 1.265 euros). Oil was also slow.
In the Italian price list it is highlighted Eni, the stock rose by 1,74%. Tomorrow the company presents the data for the fourth quarter of 2016 and the update of the 2017-20 business plan. The focus will be on E&P, cost cutting, investment optimisation. The consensus of analysts expects an adjusted operating profit of just over one billion euros.
Effervescent Leonardo Finmeccanica among the best blue chips with an increase of 0,78%. This morning Natixis raised the target price to 15 euros from 12 euros, confirming the Buy recommendation. The White House announcement regarding military spending provided new arguments in support of the ongoing rally.
In great evidence Stable Goods which recorded a leap of 3,94% to 0,5850 euros, the highest since August. This morning the company launched a cash buyback offer on its convertible bond outstanding in April 2019 coupon 2,625% from 270 million euros. JP Morgan has raised the recommendation to Overweight from the previous Neutral. Analyst Erik Salz set the target price at 0,67 euros.
Enel is up 0,2%. A2A +0,61%: the utility communicated the preliminary data for 2016 yesterday in the late afternoon. In a note released this morning, Kepler Cheuvreux affirms that the results are positive, confirming the Buy and the target at 1,40 euros.
Among the banks, all positive yesterday, Unicredit loses 0,9%, Understanding + 0,1% Bpm bank +3,5%. Brake Italian post - 1,1%.
Generali loses 0,15%. Banca Mediolanum + 1%.
Moncler +1,29% Today, with the market closed, the luxury company will communicate its 2016 results. The expectations are for double-digit growth in turnover and profits respectively over 650 million euros and over 150 million euros. The financial position is also expected to improve, and should return to a positive position compared to a year ago.
Among the small caps Retelit +5% to 1,17 euros. The telecommunications company announced the signing of a strategic and commercial partnership agreement with Belgacom International Carrier Services to create a joint offering of network services.
