The European stock exchanges seem destined to end the week in the red, but the German stock market recovers ground after the publication of the PMI index on the expectations of purchasing managers of German manufacturing companies, favoring the recovery of prices in Europe. The index of Frankfurt -0,1% almost eliminated the decline. Same trend for Milano -0,04%, which rose above 25 points during the session, and also for Paris -0,1%, flat Zurich. London e Madrid -0,2%.
In February, in a period already marked by the effects of the epidemic, the PMI data processed by IHS and Markit unexpectedly rises to 47,4 from 45,3 in January, the consensus was expecting a drop to 44,8. The composite index (manufacturing plus services) stood at 51,1 from 51,2 in January.
The Eurozone composite index rose to 51,6 in February, from its final January reading of 51,3, beating all estimates. “The euro zone economy managed to regain some momentum in February despite many companies being affected in various ways by the coronavirus, which has caused supply chain issues,” said Chris Williamson, chief economist at IHS Markit.
As far as Italy is concerned, in December the turnover of industry fell by 3%, while orders registered a +1,4% (-6,4% for those from abroad). Inflation in January +0,1% on month and +0,5% on year
spread little moved around 135 points.
Advance the quotation ofgold +0,9% to 1.633 dollars, reaching the maximum since 2013 in US currency and touching up the historic record of the quotation expressed in euros, marking a price of 1.512 euros.
Banking risk still holds ground on the Milan list afterwards the sharp no of the members of the Ubi pact -0,2% (discounted according to Akros bank) to the offer Understanding -0,43%.
This morning Moody's placed all Ubi Banca's ratings under review for a possible upgrade and confirmed those of Intesa. It doesn't even change the judgment about Bper -1,5% (stable outlook on the long-term rating on deposits at Baa3).
The banking index drops -1,4%. Unicredit retreat by 2%. Its chief executive, Jean-Pierre Mustier, has emerged as a leading external candidate to take the helm of HSBC Holdings, Europe's leading banking group. Bloomberg reported it. –
Mps Bank recover yesterday's losses, which however occurred after having reached new highs for the period at 2,24 euros: now it rises by 3,4% to 2,098 euros.
Sale Atlantia +0,72% after the compromise offer presented to the government to avoid the revocation of the concession. "We have proposed to the institutions an infrastructural development project for the country, which, however, implies some assumptions", declared the CEO Carlo Bertazzo.
