Profit-taking on European stock markets. After the gains, markets are taking a breather and awaiting the ECB meeting on Thursday, March 10, which could announce further economic stimulus measures. Business Square However, dragged down by banking stocks, it closed with a sharper decline than other European markets: the FTSE MIB fell 1,2%, while Paris slipped 0,32% and Frankfurt 0,46%. In Germany, industrial orders were released today, falling 0,1% in January but exceeding expectations.
London closed slightly down 0,27%. Old Mutual was in the spotlight following rumors of a potential asset breakout reported by British media. Madrid fell 0,28%. FCC shares were in the spotlight during the session, boosted by the takeover bid announced Friday by the Mexican tycoon. Carlos Slim.
Asia closed mixed this morning. Shanghai gained 0,81% at the close, while Hong Kong China lost 0,08%. After closing 2015 with its weakest growth in 25 years (6,9%), it expects growth of "between 6,5% and 7%" for 2016, but is ready to leverage the deficit to support economic activity, said Prime Minister Li Keqiang. Meanwhile, foreign exchange reserves fell to their lowest level since early 2012, at $3.200 trillion, but the decline was smaller than expected.
Lo spread Italian government bonds (BTPs) closed slightly lower at 123 points, yielding 1,46%. Today, the verdict from one of the world's major rating agencies did not boost confidence: Fitch cut its growth forecast for Italy to 1% (from 1,2%) in 2016 and 1,3% (from 1,5%) in 2017. The slowdown, analysts explain, primarily reflects worsening external conditions. Gold continued to gain, rising 0,55% to $1265,91 an ounce.
The recovery continues Petroleum Crude oil is heading toward the $40 mark: WTI is up 3,48% at $37,17 a barrel, and Brent is up 3,43% at $40,05 a barrel. Oil stocks are thus in the spotlight on Wall Street. DuPont is also in the spotlight after Bloomberg stated that its merger with Dow Chemical may fall through. After a downturn, the indices are now looking to rally: the Dow Jones regains positive ground with a gain of 0,37%, and the S&P 500 is attempting to hold above par at +0,07%. Overseas, markets are also keeping their eyes on central banks, with the Fed meeting scheduled for mid-month.
At Piazza Affari, the sell-offs continue to hit bank stocks: Bper -5,17%, MPS -4,73%, Banco Popolare -4,07%, Ubi Banca -3,71%. Azimut is also at the bottom of the FTSE MIB -3,99%. Outside the FTSE MIB Banca Carige It continues to slide. After Friday's -9,6% decline, the stock has now lost another 7,81%.
On the other hand, stocks linked to oil and luxury goods went against the trend. Saipem It is the best performing stock, gaining 7,25% thanks to the rise in oil prices and after American broker Jefferies raised its rating to Hold from Underperform. Ferragamo follows, up 3,53%. Moncler also performed well, up 1,48%; HSBC has included the stock in its Super 10 Portfolio. Poste Italiane, up 1,56%, stands out.
Mediaset -2,06% after having shone as high as +2,3% in the morning: Representatives of Mediaset shareholders recently met with Vivendi in Paris to discuss the possibility of a strategic alliance, but the positions between the two groups are reportedly distant.
Telecom Italy -3,68% denied rumors that Luigi Gubitosi was coming as CEO, replacing Marco Patuano. The CEO reiterated his belief in Brazil's potential, where the group's strategy is to invest in infrastructure "as part of a largely organic growth path."
