Halfway through the session European stock exchanges they move around parity, with great caution while waiting for the meeting of the Fed which will announce the new one on Wednesday interest rate policy. The forecast is for a 25 basis point cut, the third this year. So the FTSE MIB (+0,02%) of Milan is travelling under the banner of caution, in line with the CAC 40 at -0,12% in Paris, the DAX 40 at +0,21% in Frankfurt, with industrial production in Germany recording a 1,8% increase in October. Other European indices also remained weak.
However, two German companies stand out, Bayer and Rheinmetall, and are ranked first and second in the ranking of the best European titles. BayerThe multinational pharmaceutical company is up 3%. JM Morgan raised its rating to Overweight from Neutral, with a target price of €50, from €25. Since the beginning of the year, the stock has gained 80%. Bloomberg has 12 Buys, 11 Holds, and 1 Sell. RheinmetallThe defense giant is up 2%. The German Armed Forces have placed a new order with Rheinmetall for 120mm tank ammunition, the company announced. Since the beginning of the year, it has gained 160%. Bloomberg has 24 Buy ratings and 4 Hold ratings on the stock.
A Business Square run Fincantieri On rumors of a new €3 billion order from Portugal, shares of the company led by Pierroberto Folgiero rose 4% to €18,34 per share, while the FTSE MIB index moved cautiously, up 0,1%. The buying pressure was driven by a rumor, reported by CNN Portugal, that Lisbon had selected Fincantieri to supply three FREMM EVO frigates, estimated at around €3 billion, as part of projects to be financed through the European SAFE program.
In the banking sector, it stands out Monte dei Paschi with a +4,48% and Mediobanca with a 2,24% increase. On Friday, the board of directors of Monte dei Paschi di Siena renewed its confidence in CEO Luigi Lovaglio, who is under investigation by the Milan prosecutor's office in the takeover of Mediobanca. Regarding the merger of MPS and Mediobanca, the board "emphasizes that the work of the working groups, which involve the professional resources of both banks, is continuing at full capacity, with the aim of rapidly realizing industrial synergies and accelerating growth and value creation." Consob has found no evidence of a secret agreement involving Monte dei Paschi di Siena and some of its shareholders to gain control of Mediobanca and Assicurazioni Generali, press sources wrote Saturday, citing a September 15 document from the financial market watchdog. Consob has not commented.
It also runs Buzzi (+2,34%) after Deutsche Bank raised its recommendation to Buy
Poste Italiane (+0,30%) is reportedly evaluating, according to Reuters, to transfer PosteMobile to TIM in exchange for new TIM ordinary shares, thus offsetting the dilution of its stake (from 24,8% to 17%) resulting from the possible conversion of savings shares into ordinary shares and restoring its stake to around 24%. This transaction could also be considered in light of the reform of the Consolidated Law on Finance (TUF), which will raise the threshold for a mandatory public tender offer from 25% to 30%. At the same time, Poste is also reportedly considering the purchase of Vivendi's residual 2,5% stake in TIM, which at current stock prices is worth approximately €200 million.
Banca Mediolanum (+0,05%) showed further acceleration in November's funding data. The month saw strong growth in net inflows and, especially, in assets under management, confirming the solidity of the distribution model. Specifically: total net inflows: €1,16 billion (€10,4 billion YTD, +10% YOY); net inflows in assets under management (AUM): €854 million (€8,17 billion YTD, already higher than in 2024); inflows in assets under custody: €304 million (€2,23 billion YTD); new loans disbursed: €375 million (€3,56 billion YTD, +31% YOY); protection premiums: €22 million (€220 million YTD).
Among the negative signs to be reported on Piazza Affari Classic Ferrari for sale (-2,4%) affected by Morgan Stanley's critical report, entitled 'Pit Stop' and the disappointment with the sporting performance in Formula 1.
Weak Stellantis -0,80%, after last week's rally of over 13%, triggered by the Trump administration's decision to loosen standards on harmful gas emissions.
Slightly decreasing spread between BTPs and Bunds: the yield spread between the benchmark 10-year BTP and the German equivalent maturity stands at 68 basis points, down one basis point from the latest reference point and the lowest since 2009. The yield on the benchmark 10-year BTP rose slightly to 3,50%, from 3,49% the day before.
On the markets of raw material the price of the flies Copper Gold reached a new all-time high, fueled by Chinese policies and US imports of the metal. The industrial metal rose 1,3% to $11.771 a ton, updating its highs, while currently trading at $11.620. The latest jump came in the morning, after Beijing declared it will maintain a "proactive" fiscal stance and a "moderately expansionary" monetary policy.
Sul currency market, The euro strengthens against the dollar and moves around the 1,166 mark. The rise in the Bitcoin, which changes hands at more than 91.000 dollars. On the energy front, the PetroleumJanuary's WTI contract is trading below $60 a barrel, while North Sea Brent crude is hovering around $63. European gas prices are rising to €27,5 per megawatt-hour.
