The recovery of the price lists continues under the impetus of signs of understanding on the tariff front between China and the United States. A Chinese spokesman has announced a statement for the afternoon: there is still no global agreement, but progress on agriculture and intellectual property is hoped for In Piazza Affari, the index rises by around 1,3% to around 19.250 in Paris +1,15% and Frankfurt up by one percentage point. Little move Madrid +0,1%. London is up about 0,8%.
Bottom i Fiat Chrysler reflectors +3,73% to 13,8 euros. There are two reasons for the boom: first of all, the agreement with the US Department of Justice is approaching, the subject accusing the company of having used illegal software to allow 104.000 diesel vehicles to exceed the limits on emissions of nitrogen. The transaction would be in the order of 700 million euros, i.e. the amount that the group has set aside to cover this possible exit.
In addition, China has anticipated that it intends to facilitate and support the purchase of private cars in the country, the vice chairman of the National Commission of the Reform Commission, Zhang Yong, said in a statement on state television, CCTV. They go up Pirelli + 2,5%. Brembo +4,6%. They also advance Cnh Industrial +1,3% and Ferrari + 3,7%. Among the industrialists also in evidence Leonardo + 2,5%.
The yield of the ten-year BTP slows down to 2,97% yield, from 2,96% yesterday. Bunds at 0,28%. The spread widens to 268 basis points. On Friday, with the Stock Exchange closed, there will be an update on the Italian sovereign rating by the Canadian agency Dbrs. The previous assessment dates back to July 18, when the agency confirmed its long-term BBB (high) rating, stable outlook.
The Fitch rating agency remained positively surprised by recent developments in Italy. This was stated by the global head of sovereign ratings James McCormack. At the end of August Fitch had published a warning about a possible downgrade. But “things have developed a little better in recent months than we expected,” analyst McCormack explained.
Fitch herself recalls that, in the event of a cut in Italy's sovereign rating, the downgrading of individual institutions would then follow. Uphill this morning Understanding + 0,15% Mediobanca + 0,4% Where's Banca + 0,12%. Unicredit +1,3%, on the latter, Morgan Stanley cuts the target price to 15,70 euros.
Among the financials, the rise of stands out DoBank +6%: Kepler Cheuvreux raised his recommendation to Buy from Hold. The target price was raised to 12,3 euros from 11 euros.
Soul Holding +5,1% following the announcement today of the launch of the treasury share purchase program to service incentive plans and any extraordinary transactions. Brent oil reached its seventh consecutive day of gains yesterday, this morning it rose again by 1,5% to 59,5 dollars. Eni +1%. Berenberg raises the judgment to Buy from the previous Hold. Saipem + 2,5%.
Weak Telecom Italy -1,86% suffering from the conditions of the non-preferred senior bond launched yesterday. Banca Imi points out that the implied spread is higher than the 226 basis points of the June 2018 issue, reflecting a context of rising interest rates and country risk.
Under pressure Fshipyards -3% after the authorization process for the acquisition of Stx France became complicated. The European Commission has in fact accepted the applications submitted by France and Germany in the light of the Merger Regulation. The company has signed a contract with Norwegian Cruise Line to build two Oceania Cruises-branded ships.
Vola Astaldi +7,6% which formalized the green light from the Rome court for a 75 million euro loan from Fortress. In rallies too sapphire +6% celebrating a new license agreement with Levi's.
