End of the week in recovery for the European stock exchanges, galvanized by the signs of recovery emerging from the data on the economy of the Old Continent. Milano it advances by an abundant 1%, again on the threshold of 24 points. Up one point too Madrid. Better Paris e Frankfurt (+1,2%), which updates its record. At the top of the ranking there is London (+1,5%): Great Britain will leave the EU bloc at midnight on 31 January. On January 29, the exit will be voted by the European Parliament. Prime Minister Boris Johnson is expected to formally sign the withdrawal agreement in the coming days. Markets take the discount rate cut for granted, but the pound is up for the fourth time in a row.
Positive signs for the economy Germany. In January, according to the preliminary estimate prepared by the IHS Markit institute, the German PMI manufacturing index rose to 45,2 points from 43,7 points in December. These are the highest levels in the last 11 months. Today's data completes a positive picture anticipated by theZew index, which measures expectations on the performance of the German economy over the next six months, which has jumped to its highest level since 2015. Bayer (+3%) is the best blue chip in the Eurostoxx 50.
The initials at Phase One of the China/US deal it has improved the underlying scenario and, for now, the concern linked to the epidemic in China remains in the background. Since the beginning of 2020, the Dax has gained +2,4%
The manufacturing activity accelerates more than expected even in France while, due to the strikes in the services. The manufacturing index settled at 51 points, up from 50,4 points the previous month, a two-month high.
The euro it remains at a seven-week low, at 1,1049 against the dollar, on the wave of the ECB's "dovish" stance.
The yield of XNUMX-year German Bund drops to -0,28%. The BTP is stuck at 1,26%, the regional elections in Emilia Romagna and Calabria could create some turbulence.
Il Petroleum it moves up by 0,4%. Yesterday Brent and WTI lost around 2,5%, with prices falling to their lowest since early December due to fears of a contraction in Chinese demand. The data on weekly US inventories was of little use, which, surprisingly, showed a drop of 400 barrels, against estimates of +800.
Pirelli (-4,13%) is the only negative blue chip of the FtseMib. Pear the warning on the Finnish Nokian.
fca +1,2%. The US International Trade Commission has said it will review part of the recommendations it made last fall regarding alleged intellectual property infringement of a Jeep SUV design by Mahindra and Mahindra. CNH + 2,7%.
Give up positions Renault (-2,9%). Citigroup downgraded the stock to sell in a report titled "Cash Strapped, Selling Nissan Shares May Be Your Only Option." The French group could sell at least part of the 43,4% it holds in Nissan Motor. It is the first problem that Luca De Meo, the next CEO, will have to face.
Banks rebound: Unicredit + 2% Understanding + 1,3% Banco BPM + 1,5%. nexi (+1,5%) marks a new historical record.
Sale Atlantia (+2%) which, as stated in an interview with CEO Carlo Bertazzo with La Stampa, plans to transform itself into a strategic investment holding company and does not rule out a drop below 50% in investee companies. There are also rumors of a spin-off for Autostrade per l'Italia.
It also runs Post (+3,7%) on the day when CEO Del Fante presents in London the group's strategy for innovation under the Deliver 2022 Plan.
Still rallying stm (+1,8%). Barclays has raised its target from 30 to 32 euros, reinforcing the Overweight recommendation. Good news for the chip sector from Intel, yesterday +5% in the afterhours. The chip giant closes the fourth quarter with data above analysts' expectations.
Leonardo +2,2%. Morgan Stanley raised its target from 13,30 to 13,65 euros, Overweight judgment confirmed.
