Morning up for the European stock exchanges. Leading the race Piazza Affari: +2,04% the Ftse Mib index to 17.304 thanks to the rebound of banks and automotive, among the most sacrificed sectors.
But the push also comes from some leading stocks on the continental stock exchanges: Crédit Agricole earns 10% after announcing better than expected results and a plan to sell the stakes it owns in over 35 French regional banks: with the proceeds it will be able to strengthen its capital structure and distribute higher dividends.
The Paris Stock Exchange gains 1,4%, Frankfurt +1,3%.
On the government bond market ten-year BTP it is trading at a yield of 1,61%, unchanged from yesterday.
The movement of the banks is also clearly positive: Unicredit 4% salt and MontePaschi + 3,9%.
Positive Understanding +1,8% and Ubi + 1,9%.
Advance the Popular Bank. +1,2% - CEO Pier Francesco Saviotti reiterated that the wedding with Pop.Milan +1,3% will be made shortly without capital increases. Pop.Emilia + 1,5%.
Insurers up well: Generali +2% and UnipolSai +3,4%. It shines in managed Azimuth + 4,3%.
Italian post +4,1%. This morning Equita announced that it has initiated coverage with a Buy recommendation.
Well the oil: Eni +0,9%, Tenaris +3,3%, Saipem +2,5%.
The market tries to evaluate the possible novelties from the producers' front. After falling yesterday by 3,6%, Brent today rises to 32,4 dollars (+0,9%), Wti up by 0,4% to 29,1 dollars.
Enel increases by 0,9%, A2A +1,9%.
The industry is booming, starting with the automotive industry (sector index +3,5%).
Fiat Chrysler gains 2,7%, Ferrari rises by 5% after the news that the financier George Soros has bought 0,4% of the capital. This morning Mediobanca analysts slightly revised the share target upwards, bringing it to 55,86 euros from the previous 55,33 euros and confirming the Outperform rating.
Good increases also for other shares of the Agnelli group: Cnh Industrial +3,5% and Exor + 3,2%.
The rebound involves a large part of European manufacturing, driven by some positive balance sheets. The French group Schneider Electric, leader in electrical equipment and automation, gains 8,2% after el accountsannouncement of a buyback from 1,5 billion euros
In Piazza Affari they advance Prysmian +2,2%, StM +1,9% and Finmeccanica+ 1,3%.
Telecom Italy +1,2% only partially recovers yesterday's heavy loss.
Deutsche Bank confirmed the Buy judgment, reducing the target price to 1,20 euro from 1,25 euro.
Nomura, on the other hand, reiterated the Reduce judgment, cutting the target price sharply to 0,74 euro from the previous 1,02 euro (approximately -28%).
Finally the luxury: Ferragamo +3%, Yoox +3,3%,
