Piazza Affari retraces slightly after the mini-rally (+10% since the beginning of the year). The index falls 0,1% above 19.900 points. In January, the Confcommercio consumption indicator signaled a decrease of 0,3% in cyclical terms and an increase of 1,1% in comparison with the same month of 2018. Frankfurt is up by 0,37%: the GDP closed the fourth quarter of the year unchanged, thus dodging the recession.
Better Paris +0,76% on the day France gave up on producing the A380, the flagship of Airbus +4,02%. The French government said it was in favor of the agreement between Fincantieri +0,5% and Chantiers de l'Atlantique even after the antitrust authorities of France and Germany asked the opinion of the European Commission on the operation. The Madrid Stock Exchange +0,5% absorbed without problems the government crisis and probable elections.
The corporate results give the impetus to the lists outside the euro area. Nestlé +2,9% boosts the Zurich Stock Exchange +0,7% after the optimistic outlook thanks to better prospects in China and North America. The index of the food and beverage sector rises by 1,3%.
In London +0,4% awaiting the new parliamentary vote on Brexit, shines Astra Zeneca +4,7%: the British pharmaceutical group expects another year of growth. The pound weakens against the dollar to 1,283 (-0,1%). Gertjan Vlieghe, a member of the Bank of England's monetary policy committee, said today that in the event of a no-deal divorce from the European Union, a cut in the cost of borrowing was more likely than an increase. Speaking of Brexit, Vlieghe said the outcome of the referendum held in June 2016 cost the UK about 2% of GDP, the exact opposite of what Brexiters claimed during the election campaign.
The euro moved little at 1,127 against the dollar. No surprises from the data on the GDP of the euro area: +0,2% quarter on quarter. The yield on BTPs rises to 2,80% (3 points). The spread also increased due to the resumption of purchases on the German Bund after the GDP data.
Brent oil is at a three-month high, at 64,5 dollars a barrel, up 1,3%. Rising oil like Saipem + 1,4%.
In Piazza Affari it shines Salini Impregilo, up 8,5% this morning after filing an offer to enter Astaldi through a capital increase of 225 million euros. The title of the Roman builder gains more than 12% at 13pm. Now it all depends on the attitude of the creditor banks.
The negative note comes from Salvatore Ferragamo -2,2%. Morningstar has decided to cut the judgment to Sell from Hold, target price unchanged at 15,80 euros. The luxury company closed 2018 with revenues down by 3,4% (-1,7% at constant exchange rates) to 1,347 billion, a figure below analysts' expectations.
Weak banks. Unicredit -1,2%. The terms of the one billion euro bond issued yesterday with a maturity of 2029 have been defined: yield 4,87%, callable after five years. Intesa Sanpaolo -0,8%. Bper Banking +0,4%, e Banca Popolare di Sondrio were awarded the tender for the 40% of Arca held by Banca Popolare di Vicenza and Veneto Banca.
Generali -0,16%. The purchases of Leonardo Del Vecchio continue, rising to 4,875%. Positive market response for Juventus +1% after capital market debut. Yesterday the company placed a 175 million euro bond with a five-year maturity and a yield of 3,5%.
