Piazza Affari remains tonic and grows +0,39%, closing at 19.440 points, supported by the exuberance of Ynap +4,09%, after the accounts, by the strength of Unicredit +2,35% and Leonardo +2,24%. The Milanese price list stands out in a flat European context: London -0,01%, Frankfurt -0,06%, Paris +0,06%, Madrid -0,36%.
Opening bell out of tune for Wall Street, after the record hangover and the new high reached in the last session, the highest of the Trump era. In any case Snap debuts well (owner of the messaging app Snapchat), one of the most anticipated IPOs, the largest in the US since Alibaba. The exchanges, after a few seconds from the start, mark an increase of 45%, compared to the 17 dollars of the placement fixed yesterday.
The dollar strengthens, especially against the yen, in anticipation of a possible rate hike in mid-March. Tomorrow the number one of the Fed, Janett Yellen, will speak for the last time, before the next meeting and further indications may come from her words. The belief that there will be a tightening takes the yield on the two-year T-bond above 1,3%. The euro loses share against the greenback: -0,31%, 1,051.
Downside session for oil, -1,69% for Brent, 55,4 dollars a barrel, due to fears that US stocks could nullify the cuts in production by OPEC and non-OPEC countries, which have already reached 90% as predetermined. With the rising dollar, gold weakens: -0,96%, 1.237,54 dollars an ounce.
In the Eurozone we note the recovery of inflation, now at 2%, target of the Central Bank. An arrival point that could rekindle a discussion on the opportunity to reduce the monetary stimulus, in the ECB meeting scheduled for next week. However, Eurostat specified that the highest increase is that of energy prices (+9,2%), up compared to the +8,1% in January, while the preliminary core figure in February remained stable at +0,9 percent. In bonds: the Italian ten-year yield remains around 2,14%, but the spread with the German Bund narrows to 181.40 points (-1,52%).
In the main Italian basket the most popular blue chips today are Yoox Net-A-Porter Group, after 2016 accounts, with increasing revenues and profits. The prospects for 2017 are also positive, with investment forecasts, including technological ones, of around 170 million. Great day for Unicredit, confirming that courage and transparency pay off. Meanwhile, the Turkish subsidiary Yapi Kred has sold a portfolio of non-performing loans relating to credit card contracts and personal loans for a value of 140 million. Leonardo is rallying, with the prospect of a return to the dividend after a six-year absence. Purchases on Moncler, +0,95%, after the accounts of recent days. Ferragamo did well in luxury, +0,63%, while Luxottica sank -1,79%. Among the oil companies, flat Eni +0,07%, slipping Tenaris -0,57% and Saipem -0,79%. Bene Recordati +1,27%, which in 2016 saw revenues and operating margins grow; Brembo +1,54%. Campari undertone -0,15%, with growing turnover and declining profits. Slightly down Mediaset, -0,21% despite being talked about a lot, both for a possible agreement with Vivendi, which also involves Telecom (+0,64%), and for a 2016 budget that may not be as brilliant as hoped.
In the financial sector: Bper in fractional increase +0,4%, with the purchase of Carife for the symbolic sum of one euro. The step completes the sale process of the four banks (Banca delle Marche, Cassa di Risparmio di Chieti, Banca Popolare dell'Etruria e del Lazio, Cassa di Risparmio di Ferrara) that had been placed under resolution in November 2015. Brillanti Fineco +1,36 .0,81% and Azimuth +2,71%. Worst stock of the day is Prysmian -XNUMX%.
To close a story from Switzerland: Roche shares rose sharply (+6,91%) on the Zurich Stock Exchange following positive results from a study testing a treatment for breast cancer. The results, claims the Swiss group, demonstrate a significant reduction in the risk of recurrence and an improvement in patient survival using the combination of two treatments (Perjeta + Herceptin) associated with chemotherapy instead of a treatment consisting of Herceptin and chemotherapy. Roche is looking to replace patent medicines nearing expiration with new products, such as the blockbuster Herceptin which, used in the treatment of cancer since 1998, had sales of 6,8 billion Swiss francs last year. According to a Citigroup analyst, the positive results of the study could increase Perjeta's turnover, which amounted to 1,8 billion francs in 2016, up to 2 billion dollars a year.
