Weak European Stock Exchanges: a Business Square Ftse Mib index (+0,01%) around 22.800, does better than Frankfurt (-0,17%), Paris (-0,31%) and other Europeans slightly down on low volumes just a few hours after the announcements of the Federal Reserve and Powell's awaited press conference.
The market has already adjusted to the probable correction of the US rate hike trajectory, by buying dollars and selling bonds. The 2,89-year Treasury yield rose to 2,85%, from 2,34%. The two-year yield went as high as 2008%, a new high since 55. The spread between the ten-year and the two-year is at its lowest in the last two months at XNUMX basis points. The bonds of the euro area have not moved much. Waist German 0,58%, Btp 1,90%.
Still accelerate the Petroleum: Brent reaches its highest since the beginning of February above 68 dollars. Yesterday's meeting between the Crown Prince of Saudi Arabia, Mohammed bin Salman and Donald Trump, may have prepared the ground for a cancellation of the Iranian nuclear deal signed by Obama Barack. As a result, tension between Saudi Arabia and Iran could be raised. In addition, US crude inventories fell more than three million barrels last week instead of the expected increase of 3,2 million barrels. In the limelight Eni (+0,6%), Saipem (+ 0,5%) and Tenaris (+1,5%.
In Piazza Affari the banks suffer: Understanding e Unicredit -0,5%. A group of shareholders, holders of approximately 1,6% of the capital, has filed its own list of candidates for the board of directors. It sinks Ps (-2%) which falls to new lows, from the beginning of the year -30%. Corrects Creval (-3,5%), despite the completion of the capital increase of 700 million.
Catholic (-1%) recovers from the lows announced the data for 2017: net result at 56 million euros, (-40% year on year due to the effect of the write-downs of the first half). Operating profit drops to 120 million euros (-35%). A dividend of €0,35 is proposed.
General Bank (+0,2%) renewed the policy distribution agreement with Generali (-0,16%).
In industry bjan Fiat Chrysler (+ 1,8%), best title in the European Automotive sector, which was also flat. This morning Nomura announced that it had started hedging the stock by setting a target price of 19 euros. Neutral judgement.
Also good Pirelli (+1,7%). Among the minor titles it shines Sogefi (+ 5%). stm +1,8%. In luxury Moncler (+0,6%) updates the historical record for the second day in a row.
Tim -0,4%. Director Franco Bernabè should be promoted to vice president in the event of Giuseppe Recchi's resignation. The Minister for Economic Development Carlo Calenda believes that the plan presented by the Elliott fund on the separation and listing of the Tim network coincides with the government's requests and that the giant TLC is also ready to move in this direction. To Peter Scott Jovane the role of chief commercial officer is entrusted, reporting directly to the CEO, Amos Genish. Tomorrow the board of directors to discuss the issue of security and Sparkle delegations.
Sharp descent for Datalogic (-7%). The company ended 2017 with a net result of 60 million euros, up 31% year-on-year. In the fourth quarter, sales did not rise less than expected.
