Stock markets calm down after the rally at the beginning of the week. Despite the Better-than-expected German Consumer Confidence reading, according to the survey prepared by Gfk, surprisingly rose to 9,7 points from 9,6 the previous month. Piazza Affari loses 0,04% to 23.449 points. Similar trend in Paris -0,03%.
However, Faurecia advances +0,9%, to a two-week high, after saying it aims for record sales, profits and cash generation in 2022, thanks also to the consequent benefits of the acquisition of the Japanese company Clarion and the integration between Fiat Chrysler unchanged and PSA. This morning the leaders of the two houses communicated to employees that the project is progressing and the signing of the memorandum of understanding is expected in the coming weeks.
Worse Madrid -0,18% and Frankfurt -0,20%. London climbs +0,15% where Pets at Home Group shines +9,2% after forecasting annual pre-tax earnings near the high end of forecasts, supported by higher demand for pet food and veterinary services. Compass Group loses up to 7,8% after reporting that deteriorating consumer confidence in Europe has undermined the margins of the corporate catering services business.
Gold recovers to $1.458, +0,2% after four consecutive declines. Euro at 1,101 against the US currency. Crude oil prices are down slightly, despite hopes of progress in trade talks between China and the United States. Brent, the global benchmark for oil prices, is trading down 8 cents to 63,57 dollars a barrel.
Oils slow down: Saipem -0,5%, Eni -0,6%. Saras -1,2%. Last week there was a sharp drop in refining margins in the Mediterranean area, also due to the fall in the price of fuel oil with a high sulfur content. The yield on the XNUMX-year BTP slows down on the day the auctions start to 1,13% from 1,17. This morning the Treasury placed a total of 2,410 billion euros out of the maximum 2,5 billion of the total offer, divided into 1,75 billion Ctz (maximum of the range offered) and 660 million BtpEi against the maximum 750 million made available.
Yesterday the Finance Commission in the Chamber unanimously approved the amendment to the Tax Decree which amend the law on PIRs. The constraints established by the law of May 2019 are removed and replaced with the obligation to allocate at least 3,5% of the fund to securities issued by companies not listed on either the FTSE Mib or the FTSE Mid.
It settles down on the day of the Enel accounts -0,5% after formidable years (+90% between 2015 and 2019) accompanied by an increase in the share of socially responsible investors who now represent 10,5% of the capital. The company announced the new industrial plan this morning. Between 2019 and 2021 ordinary EBITDA should grow by an average of 4,1%. In 2020, Ebitda should reach 18,6 billion euros, 100 million euros more than the previous forecast but below consensus expectations. Some indications on the 2020 and 2021 dividend have slightly improved. The plan provides for a sharp cut in CO2 production.
Astm +3,81 and Sias +3,7% are up sharply. Fidentiis believes that "the latest updates on the bridge collapse confirm initial impressions that there should be no liability on the part of the company". Atlantia +0,24% after reopening of the A26 motorway.
Buzzi +1,33%, Kosmos Cement Company, in which a subsidiary of Buzzi Unicem holds 25%, subscribed a agreement for the sale of some assets in the USA for 665 million dollars. In the rest of the list, Safilo continues on the upward path with a leap of 5,2%. Astaldi, on the other hand, falls back by 3%. .
