Uncertainty about Brexit affects European lists this morning. Meanwhile, on the source of duties, the US Commerce Secretary Wilbur Ross in an interview with Financial Times he hinted that new negotiations with the European Union could be an alternative to imposing tariffs on European car imports next month.
Business Square the worst price list in Euroland was at the end of the morning: -0,40% just under 22.400 points; also in red Paris -0,38% and Madrid 0,25%. On positive ground Frankfurt +0,07%. Advance London +0,4% supported by the decline in GBP at 0,865 oneuro which in turn lost its shots against the dollar for the third consecutive day at 1,112 against the US currency.
The warning from Texas Instruments after the accounts announced yesterday evening after Wall Street closed also weighs on the markets: the data fueled fears in the global microchip industry with immediate effects on the European yech: Infineon loses 3,8%, stmicroelectronics -1,4%.
Instead, the car advances thanks also to the push of the rising accounts of A dog +2% thanks to the performance of SUVs. Fiat Chrysler also did well +0,3% which announced the construction in Mirafiori of a battery assembly center, which will be used on the new generations of 'full electric' models of the group. The investment planned in the first phase will be around 50 million euros, while the preparatory works will start in the first part of 2020. Pirelli -1,9% after Nokian, a winter tire maker, revised its 2019 forecast downwards. Goldman Sachs forecast that Pirelli will revise its adjusted EBIT margin estimate downwards to between 18% and 19% as of 17,6 .250%. In the third quarter, EBIT is expected to be flat at XNUMX million euros.
It also misses out Ferrari -1,7%. This morning Goldman Sachs raised its target price to $184 (about 164 euros) from the previous $182 (about 163 euros). Judgment Buy confirmed.
Orders for new BTP Italy they are eight years old reached 6,75 billion euros total, after the 3,76 billion raised today by institutional investors alone (79,2% of demand covered). Yesterday, at the end of the two-day offer to retail customers, the indexed company maturing in October 2027 had collected orders for almost 3 billion. The final annual coupon was raised to 0,65% from 0,60%.
On the secondary, the BTP trades at a 0,90% yield, -2 basis points.
Benefits taken up Poste Italiane -0,4% after yesterday's 1,1% jump. Goldman Sachs raised the target to 13 from 10 euros.
Movement on the banking front: Barclays has raised the recommendation of the European banking sector. Meanwhile, the rumor that the government intends to introduce a maneuver in support of the disposal of non-performing loans is gaining ground.
Bpm bank -1%. Deutsche Bank raises the target price to 2,50 euros. Where's Banca -1,4%. The hypothesis of a merger with is growing B for Bank +1% an operation that Unipol likes +0,4%.
Atlantia -0,5% The subsidiary Autostrade per l'Italia will entrust the monitoring and surveillance activities on the infrastructures to an external company to be selected, and no longer to Spea Engineering, another subsidiary of the infrastructure group.
Worth noting:
- In Piazza Affari it is suspended bio hon: this morning the Guardia di Finanza of Bologna issued three precautionary measures for top management with alleged offenses of false communications and market manipulation and ordering the seizure of assets for 150 million euros.
- In deep red instead gamenet which yields 7,6% to 12,94 euros after the leap of about 5% yesterday. This morning the announcement that Apollo's funds have acquired 49% of the company at 12,5 euros per share and will launch the tender offer for the delisting of the title at the same price.
- The Star & Aim Conference is underway in London, an event organized by Borsa Italiana and dedicated to Mid Caps listed on Piazza Affari. 2019 risks being the first year in which the Star achieves lower growth than that of the Ftse Mib, the main index of Milan. The former grew "only" by 15%, against +22% for Piazza Affari.
