European equities traded slightly higher after their worst week in seven months, as fears remain over China's coronavirus following the shock reopening of Chinese stocks this morning, which dropped around 8% on market reopening.
Business Square recovers 0,5% above 23.300. On positive ground too Paris e Frankfurt +0,2%, flat Madrid. London + 0,4%.
In January, the index of purchasing managers of manufacturing companies started to rise again, after four months of declines. The increase, to 48,9 from 46,2 in December 2019, is much larger than expected. The European index also rose to 47 points. one decimal place above the expectations of economists who indicated 9 points. “The manufacturing sector remains weak – underlined chief economist Chris Williamson – but new orders are increasing. ”Signs of recovery also for the German manufacturing sector. The manufacturing PMI index calculated by Markit increased to 47,8 in January from 45,3 in December.
The Ministry of Economy expects the Italian GDP to rebound in the first three months after the unexpected correction recorded in the fourth quarter. Minister Roberto Gualtieri said that "we are determined and confident that the measures adopted by the government will support growth".
The S&P500 index future is up 0,3%. The yield on the 1,53-year Treasury Note rose by two basis points to XNUMX%.
Btp at 0,95% (+2 basis points). The spread Btp/Bund rises slightly to 138,7 basis points in anticipation of Fitch who will give his update on Italy's sovereign credit rating on Friday after markets are closed, now at BBB with a negative outlook.
Il Petroleum Brent loses 0,5% to 56,4 dollars a barrel, a low in the last 14 months, was down 3% tonight. Two OPEC commissions, plus a third technical body belonging to the allied countries of the cartel, should meet tomorrow in Vienna to assess the impact of the Chinese epidemic.
Saipem -0,08%. The company will repay a 500 million euro bond in advance. Eni -0,06%.
It shines in Piazza Affari nexi +4,19, in the wake of the birth of the European leader in payments. The French company Worldline will buy the competitor, Ingenico, an operation that will lead to the creation of the fourth world operator: The value of the friendly offer amounts to 7,8 billion euros, in cash and paper.
Also prominently featured Prysmian +2,44%. The company has launched a range of minicables with record diameters and fiber densities thus allowing it to offer cables with an increased number of fibers for use in microtubes with standard dimensions.
Avanza drum +1% on which Banca Akros confirmed the Buy judgment (target on the stock at 7,2 euros) after Tip exceeded the 5% threshold in Prysmian.
Deutsche Bank report card on Italian utilities. The target of Snam, up by 1,1%, rises to 5,5 euros. Italgas -0,6%, target at 5,6 euros, from 5,2 euros. Terna +0,9%, target raised to 6,80 euros from 6,20 euros.
Enel +0,7%, target at 8,30 euros from 7,30 euros, also rewarded by Barclays (8 euro target). The analysts of the English broker also raise the target of Snam and Terna.
Brakes Tim -1%. The Italian Antitrust has imposed a fine of 114 million euros. Instead, a fine of 28 million euros came from the privacy guarantor. A total of fines of 228 million have arrived from the competition authority to the main national telephone operators.
Bene General Bank +0,5% and Italian post +0,5%. Of note are the renovations of Diasorin e Recordati + 1%. Amplifon + 2,2 %
Piaggio +1,4%. The Indian government intends to abolish a tax on dividends, if the law is approved, the two-wheeler manufacturer should obtain a benefit, in terms of earnings per share, of over 2,5%.
