The international stock exchanges continue to grind records and gains in this beginning of the year to be framed. Piazza Affari still among the protagonists, with the Ftse Mib again exceeding 23 points, also reaching the highest since August 2015 and closing the session in a sprint with a rise of 0,7%, a percentage that also gives the Milan Stock Exchange the pink jersey among the main European lists. The figure published today in the unemployment rate, dropped to 11%, the lowest level since September 2012.
Money on the others too Exchanges of the old continent: Paris +0.67%, London +0,45%, Madrid +0,23%. At the end of the session, Frankfurt stopped at +0,13% despite the data on German industrial production which, in November, recorded a rise of 3,4% on the previous month, clearly exceeding the consensus.
Looking overseas, as the controversy over Donald Trump continues, the indices of Wall Street they do not seem to have any intention of stopping their run and set yet another record at the start of the session (+0,22% for the Dow Jones at 25.337,58, +0,2% for the S&P 500 at 2.752,9, +0,1 .7.165% to XNUMX on the Nasdaq) driven by the optimism of investors in view of the quarterly season, which will begin on Friday with giants such as BlackRock, JP Morgan Chase and Wells Fargo. Although the big banks will "pay the price" of the new US tax reform in the fourth quarter of 2017, the sector's long-term prospects look rosy, thanks to the permanent cut of the tax rate to 21% from the previous 35%.
On the secondary it widens the spread between Btp and Bund. The differential reaches 157 points while the yield on Italian securities rises to 2,04%. But to expand it is also the spread between BTPs and Portuguese government bonds, with the latter falling to 141 basis points on the Bund, with a yield of 1,88%.
Oil on the rise: +0,45% for Wti at 62,01 dollars a barrel, +0,1% at 67,87 dollars for Brent. With interest increasingly shifting to equities, gold goes down (-0,7%) to 1.311 dollars an ounce, while the exchange euro/dollar it settled at 1.192, at its lowest for over a week due to fears that the ECB could hinder a strengthening of the currency in view of this month's board meeting.
Returning to Milan, once again FCA takes the stage, which in the early hours of the afternoon reaches a new all-time high of 19,15 euros and then "retraces" to 18,47 euros, with an increase of 1,99%. Since the beginning of the year, the gains accumulated by the Lingotto stock exceed 23%.
To push the purchases, characterized by very high volumes, the belief that Sergio Marchionne closes his mandate as CEO in style, announcing some of the operations expected by the market: spin offs, sales, a major agreement by next December. At the same time, Barclays analysts raised the target price on Fiat Chrysler Automobiles from 18 euros to 21 euros, confirming the "Overweight" rating, while Morgan Stanley sees the stock at 30 euros in the best-case scenario.
Driven by FCA, they also grind profits other titles in the Agnelli galaxy: +1,32% for Ferrari, +2,08% for Exor, +0,25% for Cnh.
On the shields managed savings with Finecobank (+4,89% to 9,335 euros), Banca Generali (+2,91% to 28,3 euros) and Azimut (+1,9%). Speaking of the bank led by Alessandro Foti, the analysts of Kepler Cheuvreux have increased the target price on the company, bringing it to 10 euros from 8,8 euros, thanks to the increase in revenue and profitability estimates for 2019. It should also be noted that Fineco, in 2017, recorded total net inflows of 5,9 billion, the best result ever.
Still on the rise Leonardo (+2,27%); well buy them banks: Unicredit +0,67%, Intesa Sanpaolo +1,14%, Ubi Banca +0,94 euro.
Weak them utilities: A2a -1,13%, Italgas (-0,6%). Bad Mediaset (-0.84%).
The FtseMib's worst stock is Salvatore Ferragamo (-1,87%), weighed down by the downgrade of Ubs which changed the rating from "neutral" to "sell", with a target price reduced from 22 to 19 euros.
Outside the main price list, it is necessary to indicate the Astaldi boom (+13,31%) which since the beginning of the year has recovered over a third of the value lost in 2017 due to the crisis in Venezuela.
