GERMAN CONFIDENCE ALSO PUSHES MILAN
THE BTP/BUND CROSS NARROWS TO 238 BP
The German Zew index on investor confidence it leaps to 42 points in August, better than the 39,9 expected and a marked increase from the 36,3 of the previous month. The Zew thus reaches its highest level since March 2013.
On the wave of this news Frankfurt +0,79% wins the palm of first list of the Old Continent ahead of Milan: index Ftse Eb +0,45% at 17339.
London 0,64% salt, Paris e Madrid + 0,3%.
On the other hand, the data on the industrial production in the euro area, which grew in June by 0,7% on the previous month, just below the 1% expected but definitely better than the 0,2% of the previous month.
Sul government bond market the 10-year BTP is traded at a yield of 4,15%, the spread falling to 238, the lowest in the last two years. the drop is the result of the joint action of the rise in German bunds and the easing of the Italian and Spanish 271-year bonds. The Bonos/Bund differential is 2 points, at its lowest for 4,47 years, for a rate of 1,76%. The German XNUMX-year yield advanced to a one-month high at XNUMX%.
In luxury it has restarted the ride of Tod's, up 2,35% to 144 euros, a new all-time high.
Among the Milanese blue chips, the rise of Finmeccanica +3,42%: according to rumors it could buy 25% of Russian Helicopters.
In decline Telecom Italy -0,29%. The decision by Standard & Poor's to revise the outlook to negative from stable (BBB- rating confirmed) is felt on the stock.
Positive titles from the Agnelli team: Fiat up 0,31%, Fiat Industrial +0,22%, Exor unchanged on highs. StM gains 1,34%.
They suffer Fondiaria-Sai -3,28% and Unipol -2,1% after the seizure of the company's assets. Strong decrease also for the subsidiary Milano Assicurazioni after Kepler Cheuvreux lowered the judgment to "hold" from "buy".
Generali salt of 0,92%.
Positive banks: Unicredit advances by 0,9%. JP Morgan raised the target price on Unicredit from 3,31 to 4 euros, confirming the neutral indication.
Corre MontePaschi +4,45%. Particularly brilliant are Ubi +2.94% and Pop.Emilia +2,85%.
Banca Akros it cut Azimut's rating -0,81% from accumulated to hold but raised the target from 15 to 16,5 euros.
