In line with what was anticipated by the futures, the western stock exchanges are trying to react to the landslide caused by the Coronavirus epidemic. Business Square it advances by 0,26%, in line with Paris. Frankfurt turns negative, Madrid and London positive two days after the Bank of England meeting. L'euro it is almost unchanged at 1,102 against the dollar. The first Fed meeting of 2020 kicks off today, ending on Wednesday evening.
This morning the director general of the World Health Organization said he was confident in China's ability to control and contain the spread of the new coronavirus. Meanwhile, the attention of the markets is concentrated on the quarterly of Apple Lossless Audio CODEC (ALAC),scheduled for today. According to the Nikkei, Apple would have asked to increase the production of new iPhones by 10%, up to a total of 80 million, in the first half.
Little moved this morning on Petroleum, on depressed levels in recent days: Saudi Arabia, the world's largest crude producer, said it was "closely monitoring" the impact of the coronavirus on the crude market, but currently thinks the crisis will have a "very limited impact ”. Eni -0,5%, signed a new ten-year procurement contract for 1,5 million tonnes of liquefied natural gas (LNG) per year with Nigeria LNG Limited, a joint venture between NNPC, Shell, Total and Eni (with a share of 10,4%).
Down Saipem -1,3% and Tenaris -1%.
Bond prices are moving up. The yield on the 10-year Treasury fell to 1,61%, an eight-year low. German Bund down -0,385%, lowest since November. The 1,03-year yield dropped to its lowest since November at XNUMX%.
Lo spread Btp/Bund remains close to 140 basis points pending the Treasury's offer of 2 billion euro of the Ctz in November 2021 and up to 750 million of the 5-year indexed Btp (15 May 2023, coupon 0,1%). The fever for the emissions of Euroland is still high. Already today, he writes Reuters, two new eurozone government bonds could be launched via syndicate: a new 15-year for Greece and a new 30-year for France.
Take off in Piazza Affari Atlantia +2,2%. The Prime Minister, Giuseppe Conte, declared on the revocation of the concessions to the subsidiary Autostrade per l'Italia (Aspi): "We have not yet received the latest opinions but we are there". However, Conte did not comment on the outcome of the investigation. Autostrade Meridionali, a subsidiary of Autostrade per l'Italia (itself dependent on Atlantia) said the Ministry of Infrastructure and Transport had told the company not to pay dividends or distribute capital.
Shy rebound +0,2% per Cnh Industrial, yesterday down 6% on the prospect of a decline in Chinese demand.
On equality Moncler: MainFirst raises the target price from 41 to 47 euros, strengthens the Buy. Flat, after an encouraging start, stm e Prysmian.
With the exception of oil, the stocks of the main basket are advancing.
Just below parity Unicredit e Understanding. Six institutions in the euro area, out of 109 monitored, do not have the capital requirements required by the ECB under the SREP and will be forced to increase their Cet1.
In the managed Banca Mediolanum +1,5%: HSBC initiates coverage with a Buy, target €10,10. FinecoBank +1,4%. HSBC strengthens the Buy by raising the target from 12,70 to 13,0 euros.
