The European stock exchanges are starting to close the first week of the year on a high note, the best since mid-May: in the late morning, the rise of the first few days of 2018 is equal to 2,7%. Since this morning Milano the Ftse Mib index rose by 0,89% above 22.700. Positive ground for other markets in line with Wall Street and Asia. The index British (+0,33%, Footsie at 7.722 points) and that Swiss (+0,4%) reach new records. Plus sign for too Paris (+ 0,84%), Frankfurt (+ 1,16%) and Madrid (+0,51%). The European Stoxx 600 index rose by 0,6% to 396,07 points, still at its highest level for at least two months, while that of the eurozone blue chips, the Stoxx 500, rose by almost 1%.
According to the preliminary estimate released by Eurostat last month inflation decreased to 1,4% from the 1,5% recorded in November. However, a number in line with expectations, while the "core" figure of economists (excluding tobacco and energy) is lower than expected.
Among the macro data stands out for Italy the Deficit/GDP ratio in the first nine months of 2017, down to 2,3%, -0,2 percentage points over the period January-September 2016. In the third quarter, the primary balance (debt net of interest expense) was positive by 5,273 billion euro, with a incidence on GDP of 1,2% from 1,4% in the same period of 2016.
They will be out in the early afternoon US employment data which, according to the economists of Intesa Sanpaolo, which should confirm the continuous improvement of the US labor market. Nonfarm payrolls are expected to increase by 200.000, after 228.000 in November. New unemployment benefits remain at their lowest since 1973 and point to a still solid employment dynamic.
Lo spread Btp/Bund remains below 160 basis points at 157,2 basis points: yield of the Bund at 0,43%, Btp 2,02%.
Il Petroleum Brent type consolidates on the highs of the last three years. US inventories down for seventh week in a row. The unrest in Iran has not ended, contrary to what was officially declared by the head of the pasdaran. Eni + 1,33%.
It is still leading the race in European price lists the automotive. In strong pole position Fiat Chrysler: +4,61% and new record at 17,61 euros. JP Morgan raised the rating to Overweight, from Neutral, target price 21 euros. Ferrari +1,3%. Also shop on Pirelli (+ 1,2%) and Brembo (+ 2,3%).
Cnh Industrial it moves slightly above parity at 11,63 euros. This morning Barclays raised its target price to 16 dollars (about 13,30 euros) from the previous 15 dollars. Overweight recommendation confirmed.
The main European automotive companies are also highlighted, especially the German ones. In December, car registrations in Germany fell by 1% year on year, but on equal working days, the increase is 11%. Volkswagen +2,73%. In Paris A dog salt by 3,9%.
Among other industrialists Leonardo (+0,48%) recovers after an initial weakness linked to the cut of the target price to 12 from 15 euro by JP Morgan. Salt too stm (+ 0,4%).
The banking sector cancels the initial gains, with the index of Italian banks marking +0,03%. But during the morning Bpm bank (-0,83%) And Unicredit (-0,31%) went negative.
The utilities are also good: A2A (+0,8%) could sell its 42% stake in the Montenegrin generator EPCG to the Finnish utility Fortum. Italgas. In December, the demand for gas in Italy rose by 2,7%. Title +0,8%. Terna + 1,4%.
Still on the rise Mediaset (+1%). The Serie A League approved the new tender for the sale of television rights to the football championship for the 2018-2021 seasons yesterday evening. Well bought Astaldi (+ 7,3%).
Among the smaller capitalization stocks, we note the double-digit increase of Financial Trevi (+15,3%). Profit taking instead up Fincantieri (-2,2%) after yesterday's strong increase.
