The Milan Stock Exchange moves into positive territory after starting in the red. At 12 the Ftse Mib index marks a slight increase, equal to 0,12% to 23523,29. They stay in the red Paris (-0,04%) And Frankfurt (-0,17%). The decline is more pronounced Madrid (-0,4%) while the inauguration session of the new Catalan Parliament is underway: the outgoing president Carles Puigdemont and the other four pro-independence leaders in exile in Brussels have given up asking for the delegated vote. Outside the Eurozone almost flat Zurich (-0,02%), London -0,19%.
The agency S&P confirms synchronized world growth and this time Italy also benefits, which in 2018 should register a 1,5% increase in GDP. The cost of money expected to normalize from the middle of next year.
Macro framework in adjustment. Cross Euro/Dollar -0,2% to 1,223; Brent -0,7% to $68,70. Flat gold at $1.338. At Piazza Affari Saipem -0,4% Eni -0,2%.
ECB: CONSTANCIO REPLY TO WEIDMANN
The sale of bonds stops. Waist German 0,54%, BTP 10 years 1,97%. In the euro area in December the growth in consumer prices on an annual basis stood at 1,4% from 1,5% in November.
In response to the interview of Jens Weidmann, president of the Bundesbank, who deems the announcement of the end of the purchases of securities by the ECB "appropriate", came the answer from the Portuguese Victor Constancio, Mario Draghi's deputy in Frankfurt, worried by the strengthening of the euro. "My concern is with sudden movements that do not reflect changes in fundamentals" observed the banker adding, with regard to the end of Qe, that "a few months more or less does not make much difference: it is better to proceed with caution".
SUFFERING: TODAY THE BANKERS SEE NOUY
The performance of Leonardo (+2,3%). Société Générale has upped the recommendation. According to the company's analysts, “as investors gain confidence with the new management, the discount compared to competitors will decrease. We maintain our target at 14 euros but promote the stock to buy from hold, looking at the potential [growth] of 30% from the current level”. Agusta Westland it closed 2017 with 3,6 billion euros in revenues, in line with the result of the previous year. The company has said in the past that the helicopter division is expected to report a slight decline in turnover in 2017, compared to 2016.
Go back up Fiat Chrysler (+0,6%). They have been disseminated data on car sales in Europe in December, the month closed with a drop of 4,8%: -16,2% the result of FCA. General Motors and Ford estimate a slow-moving North American car market for 2018. Ferraris -0,5%.
The banking sector is also in the spotlight. Today the head of European Supervision, Daniele Nouy, meets some Italian bankers. In a few days, the European Commission will publish a document on the results obtained from cleaning up bank balance sheets: it seems that the executive, on the issue of automatic write-downs of non-performing loans, is in favor of limiting the mechanism to new problematic loans. According to a study by Equita, the reduction in non-performing loans compared to the European average is for now only the result of the operations of a few banks such as Unicredit (+0,6%) and Mps. On the rise Understanding (+0,2%), the popular ones are down: Where's Banca -1,8% B for Bank -1,2% Bpm bank -1%.
The race continues Azimuth (+0,7%). Brake instead Recordati (-2,2%). Credit Suisse has lowered the recommendation.
Among the medium caps, Fila (+5%) tap new historical record like Technogym (+ 2%) and Catholic (+ 2%). Ima (+2%), Banca IMI started hedging with an Add judgment and a target of 81 euro. Astaldi (+1%) turns higher after the news of new orders in Eastern Europe.
