Milan closes up 0,49%, in a multi-speed Europe and with Wall Street down after yesterday's records. Frankfurt did well +0,74%; flat Paris +0,02%. Sales prevail in Madrid -0,4% and London -0,32%.
In New York, the Dow Jones is in the red but, for now, is holding the 26.000 point line achieved for the first time on the eve. Among the big banks, which are presenting their quarterly reports, today is the turn of Morgan Stanley, which shows better-than-expected accounts despite a massive drop in profits, again due to extraordinary charges due to the tax reform. The stock is currently traveling in positive territory and, during the session, for the first time since October 2006, the capitalization surpasses that of Goldman Sachs.
On the monetary front the euro remains at its three-year high against the dollar, in area 1,224 (+0,59%). Gold takes advantage of the slide of the greenback and appreciates moderately, exchanging at 1329,72 dollars an ounce (+0,21%).
Oil moved little, with a drop in US weekly inventories higher than expected. Brent 69,32 dollars a barrel (-0,09%). Positive session for the Italian secondary school, immune, at least for now, to electoral risks. The yield of the 10-year BTP is 1,98% and Bund spread down 1,75% to 140.40 points.
In the business square today's best blue chip is Stm, +3,82%, recently indicated by Socgen as a "new buy". Asset management performed well with Banca Generali +2,22% and Azimut +1,97%. The positive trail of Moncler continues, +2,21%. After a phase of profit taking, Fiat is back on track +1,86%. Campari stops at the bottom of the Ftse Mib, -2,5%, penalized by the relegation from "buy" to "hold" of Deutsche Bank. Snam -1,41% and Terna -1,09% are down.
Still weak Telecom -0,97%. The banks, always under pressure from the issue of NPLs, close in no particular order. Among the big names, the worst is Banco Bpm -1,45%, but Intesa +1,18%, and Unicredit +1,16%, score an excellent performance. Outside the main list, sales penalized Creval -4,01%, Banca Carige -2,15% and Monte Paschi -1,71%.
