The ascent ofeuro against the dollar (in the 1,24 area) and the thud of Frankfurt (-1,59%) weakened the lists of the Old Continent which closed down. Business Square limits losses to 0,32%, 22.690 points, with unipol, +2,89% and Mediaset, -4,15%, at the extremes of the Ftse Mib.
On the German market, sales are mainly concentrated on industrial stocks such as Volkswagen e Infineon, but they also affect pharmaceuticals. Fractional drops a Paris -0,64% and Madrid -0,37%. London archives a heavy session, -1,05%, after the Brexit bill of 42 billion euros according toOffice for Budget Responsibility (OBR), an independent government body acting alongside the UK Treasury. The pound also regained share against the US currency, with the cross close to 1,4.
To weaken the US currency, in the early afternoon, was the data on theinflation, in line with the consensus and close to the 2% target. According to Bureau of Labor Statistics (BLS), consumer prices in February mark +0,2%, after +0,5% in January. Year-on-year growth is, as expected, 2,2%, and slightly above the 2,1% of the previous month (+1,8% the core figure). An element that could influence the choices of the Fed, starting from next week's meeting. The reaction of the markets is initially positive, because the picture shouldn't induce the central bank to accelerate monetary tightening, then the prices reverse course. Currently the session continues in the red, with the Nasdaq in a more decisive decline. Perhaps some of Donald Trump's choices weigh. In addition to duties, the firing of the Secretary of State, Rex Tillerson, replaced by the number one of the CIA Mike Pompeo, as well as the stop to the purchase of Qualcomm (worst Nasdaq stock) by the Singapore Broadcom group, for reasons of national security.
The weakness of the Petroleum, which continues its march backwards. Brent -0,77%, 64,45 dollars a barrel.
Moderately positive session forItalian bond, with the 1,9-year yield at XNUMX% and lo spread slightly down to 128.20 points, -0,23%. Auctions did well, with no surprises, in fact all four scheduled issues were well covered. In particular, the longest ones (15 and 30 years) have seen a ratio of demand for securities to the quantity awarded respectively higher than 1,6 and 2,6 times, a sign that institutional investors are looking at the generous yields of the Italian Republic with great interest .
In Piazza Affari, the performance of many stocks is conditioned by the opinion of analysts. Unipol is rewarded after the promotion of Kepler-Chevreux, while Mediaset pays the penalty for the rejection of JP Morgan. The accounts sink instead Mondadori, -2,75%, which expects revenues and profits to drop slightly in the current year.
In money even today Italgas, +2,25%, favored by the 'accumulated' recommendation of Banca Akros. It also stands out among the utilities A2a +1,41%. Among oil stocks, the positive phase continues Eni, + 0,6%.
The financials stop in no particular order. Well Bpm bank +2,32%; Bper +1,86%; Banca Carige + 4,44%.
Sales penalize stm, -2,58%, following the weakness of the sector.
Down Cnh -2,17%; Telecom -2,37%; Post -2,16%. Bad too Atlantia, -1,51%, waiting for a possible agreement with Hochtief-Acs for the takeover bid on Abertis.
