Negative balance sheet for the day, closing a positive year. The last session of 2017 in Piazza Affari is red, with the Ftse Mib below the threshold of 22.000 points, -1,21%, at 21.853 basis points. The profit taking on Fiat (-1,97%) and Ferrari (-1,96%) and the credit sector weighed on the Milan stock market. The Italian paper on the secondary also suffers, thanks to the thin volumes and the end of the legislature. The yield of the 10-year BTP goes up to 2,3% and the spread with the Bund explodes to 186.80 points, +25,71%.
From the macro front: Istat, in its monthly note, claims that the leading indicator of the trend of the Italian economy continues to improve in December, but at a slower pace than in the previous two months. Meanwhile, German inflation accelerated beyond expectations this month (+0,6% on month, +1,7% on year).
The trend is also weak for the other European lists, with the exception of London, +0,85% which, having closed its doors early, collects a new record. Madrid loses 0,49%; Frankfurt -0,48%; Paris -0,5%. Zurich, with which Milan was fighting for the title of European queen of the year (lost in the last few hours), leaves 0,4% on the ground.
Wall Street starts cautious and, at the moment it seems to be heading for a weak session, although 2017 will remain the best since 2013. The euro continues its race against the dollar, with the exchange rate exceeding 1,2. In 12 months, the single currency has appreciated by 14% against the greenback. 2017 is the worst year since 2003 for the US currency.
Well matched gold and oil. The first exceeds 1300 dollars an ounce, Brent rose by 0,54% to 66,52 dollars a barrel. Not even black gold today saves Piazza Affari from sales. Eni down, -1,15%; Saipem -0,63%; Tenaris -0,98%.
The weakest stocks of the session are bank stocks, in particular Bper -2,73%; Ubi -2,09%. The big names are also bad, Intesa -0,72% e Unicredit -1,7%; the latter being the most traded stock of the year.
