Piazza Affari is the liveliest European stock exchange awaiting both the Fed and the response from the Dutch polls: Janet Yellen's press conference will be held shortly after 20 pm in Italy, at the same time there will be the eagerly awaited results of the vote in the Netherlands. At 10,30 the turnout was 15%, +200 basis points compared to the same time of the last electoral round.
Meanwhile in Milan, the Ftse Mib index rises by half a percentage point around 19.600 points, a whisker below Madrid. Little moved Paris and Frankfurt. London +0,2%.
Istat revised upwards the final data on inflation in February: the Nic index of consumer prices rose by 0,4% on a quarterly basis (revised from +0,3%) and by 1,6% (+1,5%) over the same period of the previous year. The upward trend, underlines Istat, is the highest since March 2013.
Bonds are slightly positive, in line with the rest of the euro zone sector, in a climate of cautious expectations. Around 11,30 the Italian 2,34-year rate fell to 2,36% from 2014% at the close, still close to the highs since November 2,4 recorded on Tuesday, just over XNUMX%. The spread with the same maturity of the Bund is down to 188 basis points.
Il exchange euro Dollar it travels to 1,06195, below the February peak seen on Monday at $1,0714.
Crude oil prices recover, Brent +1,7% to 51,70 dollars, recovering from the lows of three months. Yesterday evening, Saudi Arabia's energy minister took the field with an unusual statement in which he reiterated Riyadh's commitment to stabilize the global oil market by adhering to the production cuts decided by OPEC in December. In addition, there should be a drop in US crude inventories today, to an all-time high and up for nine weeks.
In the Italian list,?Eni +0,7%,?Saipem? +1,5%,?Tenaris? +1,7%.
The parade of the numbers of two luxury brands is not convincing.
Glide to the parterre Ferragamo?– 4,08%. This morning, after the publication of the 2016 data, Kepler-Cheuvreux lowered the recommendation to Hold da Buy, confirming the target at 29 euros. Bryan Garnier also cut to Neutral from Buy, confirming the target at 26,70 euros. The luxury company closed the fourth quarter with a strong increase in net income to 89,5 million euros, +47% year on year.? The figure is slightly lower than expected because the tax benefits on brand accounting have been less significant.
Down too Tod's-1%. 2016 closed with Ebitda down by approximately 11% to 180,9 million, with a margin on sales of 18%, and with a net profit of 86,3 million from 93 million in 2015.
In ?earnings industry titles:? Fiat?Chrysler? salt of 1,5%,?Cnh??Industrial?+1%.?
Italy and Germany have reached an agreement, 'a common view' on the need for FCA to take measures to reduce the level of NOx emissions for which the European Commission has concluded its mediation. This was indicated by a community spokeswoman. Italy provided information on the control campaign launched in 2016. The dispute with Germany concerned the 500X Diesel. However, the EU executive specified that the agreement between the two countries 'does not affect its role as guardian of the treaties'. In the meantime, however, the German magistrates have raided two Audi plants as part of the car emissions scandal.
Well ?Prismian +1%. Stm -0,9%. On positive ground too Ima?+1% which closed 2016 with a group net profit growing by 33,8% to 93,5 million euros.?
Little moved the banks:?Unicredit? +0,1%,?Bank?Bpm +1,6%,?Intesa?[ISP.MI] +0,7%.
Generali rises by 0,9% on the day of the board meeting on the accounts. ?
Thump of Marr?-6%: achieved a consolidated net profit of 58,5 million in 2016, almost stable compared to 2015 and will propose the distribution of a coupon of 0,70 from 0,66 euro. Exane drops recommendation to Neutral from Outperform
