Ftse Mib falls slightly below parity, Ftse Mib index slightly above 22.700. Same script for Paris and Madrid. Slightly better Frankfurt +0,1%. Toned London +0.9%. galvanized by the first Brexit deal. Bitcoin futures trading began on the Chicago Board Options Exchange (CBOOE) yesterday. The exchanges started at 6:00 in the afternoon New York time, or midnight in Italy. The latest price of e-money is above $16. In the lists of the Old Continent to report InBev + 0,4% after a source reported that the company is among the beer producers candidates to buy the largest brewery in Vietnam in an operation worth 5 billion dollars.
On the macro front, in October the OECD leading indicator, which anticipates the turning points of economic activity within the context of the trend for the next 6-9 months, reports an increase for Italy to 100,7 from 100,5 in September . Conversely, for the entire Eurozone the value remained unchanged at 100,6, signaling stable growth prospects. In anticipation of the Fed meeting, the dollar has moved little (1,179 against the euro). Crude oil trades slightly lower, with OPEC-led production cuts offset by growing US drilling activity, which suggests a further increase in US production.
Around 12,05 in Italy, the Brent contract for February delivery dropped 3 cents to 63,37 dollars. Purchases on Tenaris +1,89% and Saipem +1,26%. Eni +0,1%, has received permission from the Norwegian authority to restart production at the Goliat oil field in the Barents Sea. Eni looks at the Italian activities of the Piedmontese Mossi Ghisolfi (chemistry) in a context of business diversification.
The Btp market is stable. The spread recovered slightly to 136 basis points, from 134 in the morning, the low of the session and from the end of October 2016. Similarly, the 1,64-year reference rate settled at 1,63% after reaching a minimum of 2017% from early November of last year. The last Italian auction with settlement in 4,75 will be held tomorrow. In fact, the Treasury will make 12 billion XNUMX-month BOTs available to investors, an amount identical to that maturing, while the medium-long auction on Wednesday was cancelled.
In Piazza Affari Leonardo advances +2,30 to 10,22 euros under a double boost. Goldman Sachs, in a report entitled "2018 may surprise on the upside", raised the judgment to Buy from Hold, however lowering the target price to 12,30 euros from 15,80 euros. For the broker it is the most undervalued stock in the European defense sector. In addition, BAE Systems has announced a £5bn contract with Qatar for 24 Eurofighter Typhoon aircraft built by a consortium including Leonardo. After Friday's hike, Italian banks are down slightly against the slight rise in the European sector. The head of banking supervision of the ECB, Danièle Nouy, said in an interview that the addendum on NPL rules could be postponed by a few months but there are no reasons for a postponement until 2019. UBS has meanwhile cut the target price of Ubi, Bper and Creval all down this morning. Flat Carige.
Banco Bpm in particular falls -1,75%, the deadline for the submission of restricted offers for 1,8 billion nominal Npl expires today. Unicredit is also weak -0,6% which could evaluate, in the final phase of the plan to 2019, another sale of (non-performing) loans and an aggregation abroad. The effect of the agreement on Basel 4 still produces effects on European banks HSBC gains 1,8%, UBS 1,3%. Fiat Chrysler rose by 1,4%, on which Natixis raised the target price to 16 from 15 euros with a "neutral" rating.
Utilities weak, luxury advances. TOD'S in particular runs +3% thanks to the promotion to "outperform" of MainFirst. Well done Salini Impregilo, supported by the announcement of new contracts for a total of 490 million dollars, and Fincantieri. He wiped out Juventus' losses after the Champions League draw. Rome also advances by 4%.
