The confidence of German companies is holding up, despite Brexit and the hail of attacks that have targeted Bavaria. L'July Ifo index it falls slightly to 108,3 points, above estimates. The Frankfurt Stock Exchange gains one percentage point, while the other stock exchanges of the Old Continent are also positive. TO Business Square the Ftse Mib index gains around 0,4%. The dollar was solid, at 1,0971 euros on the eve of the Federal Reserve board meeting.
Featured in London Ryanair (+5,7%), which almost entirely recovered the level prior to the Brexit referendum: the company confirmed its goal of record profits for this year. It also flies William Hill (+8,5%) after online betting group and casino operator Rank Group announced an alliance ahead of a takeover offer.
In Paris it explodes lvmh (+5,5%) after the announcement of the sale of the Donna Karan brand for a value of 650 million dollars (592 million euros), to the US group G-III Apparel.
The spotlights of Piazza Affari are focused on Ps: -7,76% for a capitalization of less than 850 million euros. The general belief that the Bank will not be able to pass the EBA stress test, which will be published at 22 pm on Friday 29, weighs heavily. In the meantime, hypotheses on "market solutions" are being studied.
The other institutes being examined by the Community authorities are doing much better: positive il Banco Popolare (+ 0,41%) and Unicredit (+0,70%). Down Understanding (-0,31%), however among those promoted with the most brilliant report card, e Ubi (-0,87%), which is certainly not helped by the rumors about a possible intervention in Mps. A spokesman denied that the Board of Directors scheduled for tomorrow and convened some time ago has the issue on the agenda.
Insurance is also weak: Generali -0,5% Unipol -0,9%. Despite the decline in crude oil, Eni earn 0,4%, Tenaris + 0,6% Saipem +0,4%. Lively Telecom Italy (+1,4%) on the eve of the accounts.
Flat Fiat Chrysler, which will meet the board on Wednesday. This morning Natixis cut the recommendation to Reduce from Neutral, lowering the target price to 6,03 dollars (about 5,50 euros) from 8,23 dollars. Cnh +0,1%, this morning Piper Jaffray cut its target to 5,50 euros.
The luxury stocks were also positive in Milan: Moncler+ 0,9% Tod’s +1,7%. Tonight, with the markets closed, the accounts of Luxottica. In the meantime, the company accelerates up by 2,5% to 45,75 euros.
