Piazza Affari retraces after having touched, thanks to three sessions in a row in positive ground, the maximum for twelve years. Adjustment session also for the other price lists pending the release of the minutes of the last meeting of the ECB. Milano it falls by 0,8% to around 24.260. The losses are more modest Paris e Frankfurtaround 0,2%. Madrid -0,7%, held back by the accounts of Telefonica -4%, itself a victim of losses in South America. Outside the euro area, flat London. The EuroStoxx 50 index loses 0,3%.
Always weak the exchange euro Dollar to 1,078 (-0,1%), the lowest since 2017. But the strength of the US currency does not stop the run of thegold, trading at around $1.609 an ounce at a seven-year high. Even the Petroleum Brent remains at its short-term highs, at 59,2 dollars a barrel, +0,1%. Meanwhile, the enlarged OPEC meeting on 5 March is approaching.
Recover Tenaris from -1,7% of the opening. The company presented disappointing quarterly data, forecasts for the first part of 2020 are cautious. Ebitda for the last three months of the year passed to 290 million dollars, down 32% year on year. The pipe producer warns that the first quarter of the year will be penalized by the integration of the American IPSCO Tobulars, acquired in 2019. Saipem + 1%.
The 0,92-year BTP yields 2% (-XNUMX basis points). The spread fluctuates just above 135 points.
Spotlight still on banking risk. Today is the meeting of the hard core members of Ubi -0,3% (Cari Cuneo Foundation, Banca del Monte and families from Bergamo and Brescia) who did not hide their surprise at the offer of Understanding +0,3%. CEO Carlo Messina reiterated that there is "zero probability" that the offer will be changed. Credit Suisse was chosen as advisor to support Ubi Banca in evaluating the public exchange offer.
Bank Bpm +1,5%. B for Bank +1,58%. On the Banca Monte Paschi roller coaster which until a few minutes ago gained 4% and at 13.30pm is traveling down 0,3%.
Azimuth is under pressure (-1,5%) with Timone Fiduciaria which successfully concluded the sale of 2.550.000 ordinary shares of the group to institutional investors, equal to approximately 1,78% of the capital, at a price of 23,7 euro per share, following an accelerated bookbuilding procedure.
In asset management today the board of directors meets Anima +3,4% to approve the 2019 accounts.
Generali -0,9%. Catholic +0,5%. In the "Milleproroghe" decree there is an article which extends the class of merit of the car or motorbike policy to family members.
In sharp decline Atlantia -3,9%. Yesterday's vote on the Milleproroghe decree cancels the 23 billion maxi-penalty that the State would have had to pay to the concessionaires in the event of termination of the contract. Now the government has the regulatory instrument in hand to deal with the revocation of the concession to Autostrade per l'Italia. According to newspaper reconstructions, Minister Paola De Micheli has given the Benettons an ultimatum.
Sector rotation today leaves utilities behind, among the best performers in recent months. Terna -1,3% closes 2019 with 1,74 billion euros of Ebitda, the consensus was expecting 1,72 billion. Net debt in line with expectations at 8,3 billion.
Enel -1%. HSBC raises the target price to 9,5 euros, from 7,4 euros. Snam -1,3%.
