The bull run continues in Europe. TO Business Square, having reached the third day of the rise, the Ftse Mb index advanced by 0,4%, around 19.400 points, after having touched the highs of the year at the beginning. Paris also advanced by 0,4%. Best of all it does Madrid (+0,6%), ahead of London (+0,3) ea Frankfurt (+ 0,1%).
Leading the rise in banks is Crédit Agricole, which gains 4,7%. The largest French retail bank it went better than expected, with a smaller-than-expected decline in earnings in the fourth quarter. Heineken's leap forward (+4%) is also significant.
The increase in the dollar, which rose yesterday evening to 1,056 against the euro, a level confirmed in this morning's trading, favors the market. On the bond market, the 10-year BTP is stable, with a yield of 2,21%, from 2,22% yesterday. Spread unchanged at 183 basis points. The yield on the Bund remained at 0,36%.
Investors' attention remains focused even today overseas and in particular on monetary policies of the Fed. From this point of view, the macro data that will be released in the early afternoon and in particular January consumer prices, industrial production and retail sales are important. Janet Yellen will hold the hearing in the US Senate today.
Oil down slightly with Brent at 55,7 dollars a barrel (-0,4%). Expected today data on US inventories. Eni (+0,2%) announced that the Zohr field will begin production before the end of the year. Retrieve Saipem (+ 0,8%).
In Piazza Affari it still runs Fiat Chrysler, which is up by 2,3% and reaches prices never seen before, at 11,08 euros, on the news of a negotiation for the acquisition of the Opel brand by Peugeot. The operation, according to Equita, "would be a positive catalyst that would rekindle the speculative appeal as it would sanction the launch of the risk in the sector that seemed frozen".
Important, at the same time, is the reopening of the General Motors window. In particular, "the sale of GM's European asset could facilitate the union between the US major and FCA", highlights Banca IMI (rating add with a target price of 12,2 euros). "We see the two groups as highly complementary although a merger could create overlaps in the US market and in Latin America."
Exor +1,2%. It also advances Brembo (+1,3%). They go up Buzzi (+ 1,4%) and Rest (+ 1,8%).
The financials are also highlighted in Milan: Unicredit + 2,5% Understanding + 1,7% Mediobanca +1,5% and Ubi + 1%.
On the other hand, the prospects of interest rate increases penalize utilities. Enel drops by 0,2%, Snam -0,5% A2A -0,9% Atlantia -0,1%. It's an exception Telecom Italy, which rises by 0,5%.
Unipol loses 0,3%, while Generali drops by 0,2%: today the Board of Directors is held which in theory should only deal with ordinary administration, without discussing the approaches of Intesa. Three hypotheses are being studied to defend against possible takeovers: a merger with Mediolanum, a takeover of RSA (Royal Sun Alliance) and a buyback of up to 3 billion euros.
Recommended Anima (+1,2%) with Ubs confirming the Buy recommendation. The prospects of rate hikes are penalizing utilities. Enel drops by 0,2%, Snam -0,5% A2A -0,9% Atlantia -0,1%.
