Search for Business Square waiting for Mario Draghi's press conference. Instead, advance undeterred Frankfurt, on the third day of the rally, up by one percentage point. TO Milano the Ftse Mib index fell by around 0,20%, to around 21.700. Paris scores +0,44%, Madrid +0,25%. Outside the euro area, London + 0,15% Zurich -0,04%.
To confirm the positive situation in the Eurozone, second quarter GDP reading, revised up on a quarterly basis to +0,6% from +0,5% and on an annual basis to +2,3%. The data is at its highest since the first quarter of 2011. The data on German industrial production for July is below expectations.
THEeuro it is up against its main counterparts (1,1960 against the dollar) a few hours after the monetary policy meeting of the European Central Bank. Only 15 of the 66 economists polled by Reuters expect Frankfurt to announce a reduction in QE today, down sharply from a month ago, when just over half of those polled expected such a move.
Meanwhile, in line with expectations, the Swedish central bank left interest rates unchanged at -0,50% and the stimulus program, reiterating that it has no intention of raising rates until mid-2018. The Riksbank fears that a too rapid tightening of its monetary policy could lead to an appreciation of the crown and a drop in inflation. Following the decision, the Swedish krona lost 0,25% against the euro to 9,5325.
Always high attention to safe-haven assets: thegold it is trading at $1.337 an ounce. Oil is still rising while waiting to measure the impact of hurricane Irma which is approaching the US coast at a speed of 300 km per hour. Brent trades at 54,60 dollars, the highest since the end of May. Eni 0,3% salt, Saipem falls by 0,6%.
The case of the day concerns the abrupt stop of Ferrari (-4,5%), struck by the report by Adam Jonas of Morgan Stanley, one of the Big names in the analysis of the auto world, the first to have reported the potential of FCA and evaluated on the basis of the "Sum of the parts".
This time, however, there was a resounding rejection of the record evaluations of the Maranello Reds. In a report released this morning entitled "It's time for a pit stop," Jonas lowers his recommendation to Underweight from the previous Overweight. The target price is set at 100 dollars (about 84 euros) with a correction of 15% compared to current prices. There are two risks on the horizon: growing competition from McLaren, Aston Martin and Lamborghini and the potential entry of the Ferrari into the SUV market, which would expose the brand to hitherto unknown market segments and customers. Fiat Chrysler +0,2%, after reaching the new high of 13,94 euros.
Advance further Mediaset (+1,2%) while awaiting news on the Vivendi front. Telecom Italy +0,1%. Widespread weakness among banks, with the Italian index dropping by 0,46% and the European one by 0,55%. Unicredit -1% Understanding unchanged, Banco Bpm -0,7%.
Among the industrialists, Leonardo it lost 1,22%. It risks postponing the award of the record tender for 350 trainers to be allocated to the US Defense, which could be worth up to 16 billion dollars. Leonardo is also participating in the tender through its subsidiary DRS.
The best stock of the Ftse Mib is Luxottica (+ 2%).
Positive stm (+0,4%). The real estate sector is in turmoil: Cleansing + 5% Aedes +4%. Salt too Coima Res (+0,5%). According to research by Scenari Immobiliari, property prices in Milan are expected to increase by 5% in 2017.
