Business Square slow down on the day of the central banks of the old continent. At 14.30 pm Mario Draghi will hold the last press conference of 2017 at the end of the meeting of the directorate of the ECB. The meeting is also scheduled for today Bank of England and Swiss National Bank. Bern has decided to confirm the ultra-loose monetary policy of the Swiss National Bank despite the recent decline in the franc. Rates remain negative. Even London has not moved rates. Surprisingly the China has instead raised rates of the money market. A mini-rise of 5 basis points that caught economists off guard.
A Business Square (-0,2%) the Ftse Mib index oscillates around 22.400 points. Also in red Madrid (-0,3%); they do worse Paris e Frankfurthalf a point down. In balance Zurich, London -0,3%. Theresa May, today in Brussels to establish the next steps of the Brexit suffered a first parliamentary reverse in the Municipalities: 12 pro-Brussels Tories voted against divorce from the EU.
From the PMI index composite comes a new confirmation of the good health of the euro area economy. In December, the euro zone figure reached its highest level since February 2011 at 58, surprising economists who had forecast a drop to 57,2. In addition, new business growth has hit a level not seen in more than a decade. “It's a super end of the year. It's a solid framework for wide-ranging expansion,” commented Chris Williamson of IHS Markit.
The research institute I fo improved the growth forecast for the German economy in 2018, when GDP growth it should settle at 2,6% from 2,0% of the previous estimate. The GDP growth estimate for this year is confirmed at 2,3%. For 2019, the Ifo forecasts German GDP growth of 2,1%.
Il BTP it consolidated on yesterday evening's levels with the 1,80-year yield around 150%. Spread just under XNUMX.
The banking sector is also weak: Where's Banca loses 0,5%, Bpm bank -1,8% Understanding -0,4%. Bounce in late morning Unicredit + 0,4 %
Il Petroleum is recovering, after yesterday's stop due to US data: Brent +0,8% to 63 dollars. The International Energy Agency, IEA, keeps its estimates on world oil demand unchanged for this year and next year but warns that the oil market could run in surplus in the first half of next year before posting a deficit due to US production continuing to grow significantly.
In balance Eni which slows down after initial gains. The company closed the sale to Exxon Mobil of a stake in a field in Mozambique: proceeds of 2,8 billion dollars, approximately 2,3 billion dollars of capital gain. With this operation, the debt falls to the lower end of the corporate indications. The CEO Claudio Descalzi sees a good end to the year and expects oil to rise above $60. This morning Goldman Sachs raises its target price to 17,8 euros.
Down Saipem (-1,35%) And Tenaris (-1,30%) which will also be among the beneficiaries of the tax reform in the United States, a market that accounts for approximately 40% of the total sales of the company controlled by the Rocca family.
Mediaset -0,37%%. Nielsen released the first indications on the advertising market in Italy, in October, Mediaset revenues suffered a drop of 7,9%.
Weak too Telecom Italy (-1,02%). RaiWays (+0,7%) presented a non-binding offer for the television broadcasting activities of the former incumbent. The stock is up slightly.
Down Fiat Chrysler (-0,53%) after the drop (-1,3%) of sales in Europe in November (+5,9% market increase). Hyundai Motor is considering cooperating with the Italian-American group in the development of fuel cell vehicles, headlined the Korean newspaper Nikkei Asian Review quoting an executive of the oriental automaker.
In the main basket it shines Yoox (+2%), best large cap.
Among the titles of the digital brakes MailUp (-1,4%), entered the Technology Fast 500 EMEA 2017, the ranking drawn up by Deloitte on the fastest growing high-tech companies.
In the Aim price list it moves well Digital Magics (+4,1%), driven by the news of the entry into the SmartIsland business incubator team, a startup that develops technological products and services for the agri-food industries.
