European lists are up, optimistic about the outcome of the negotiations on tariffs between the US and China. This morning, one of Donald Trump's political advisers, Kellyanne Conway, said that the meeting between the two presidents would be "soon". TO Business Square the rise in the index is close to 0,9%, around 19.800 points. The prospect of a trade deal is particularly encouraging Frankfurt (+1,3%). On positive ground too Paris (+ 1,07%) and Madrid (+ 0,75%). London advance about half a point.
Contributes to good mood the agreement in the US Congress to avoid a new freeze on the federal budget. The deal provides $1,38 billion in funds to build 55 miles of modern physical barriers along the border with Mexico, much less than Donald Trump asked for the Wall.
Not to be overlooked though Jens Weidmann's alarm, the president of the Bundesbank: the euro zone, he said this morning, "is not yet crisis-proof, therefore the ECB still runs the risk of having to act as a crisis unit, a factor that represents a risk to its independence".
Meanwhile, two MEPs, Marco Zanni, from the Lega, and Marco Valli, expelled at the end of last year from the 5-star Movement, presented a question to the ECB regarding the legal ownership of the gold reserves of the States.
The yield in sharp decline bot auction. The Treasury has sold all of the 6,5 billion euros offered, with rates falling sharply. The average yield dropped to 0,181% from 0,285% of the January placement. Demand reached €10,72 billion with a coverage ratio rising to 1,65 from the previous 1,54.
The wait now moves on to tomorrow's appointment, on the issue of between 3,5 and 4,5 billion in the reopening of the 3 and 7-year BTP benchmarks.
On the secondary market, the BTP trades at 2,85%, from 2,89% yesterday. spread down to 271 basis points, from 276 yesterday.
The euro this morning it moved little at 1,128 on the dollar, after six consecutive days of decline on the dollar.
Il Petroleum Brent trades at 62 dollars a barrel, up 0,8%, yesterday however it closed down 1%. Data on US inventories awaited today. salt Eni (+ 0,5%), chosen among the five companies that have received a license for exploration activities in Egypt. Saipem +1% and Tenaris+ 2 %
Pirelli (+4,2%) on the upside of Michelin (+10,1%): the French tire manufacturer said yesterday evening that it expects an increase in operating profit in 2019. In addition to the Bicocca-based company, the German competitor Continental (+3,2%) and the French one are taking advantage Faurecia (+3,9%).
Also prominently featured stmicroelectronics (+ 3,9%).
Instead, it's declining Prysmian (-1,15% from an initial 2%) after yesterday evening the company announced that the maximum fine for the 2011 antitrust proceeding in Brazil could reach 96 million euros. Mediobanca Secutities speaks of "negative news" underlining that the figure corresponds to approximately 2% of the capitalisation.
Slight recovery Fiat Chrysler (+0,3%). Construction work will begin by the end of the year a Maserati at the Modena plant of the highest range. Union sources and a note from the FCA brand say so. Ferrari + 1%.
Brembo +2,2%. Fidentis (buy) expects the company not only to meet its 2018 targets, but to report 2019 revenue growth of +6,5% with a substantially stable year-over-year EBITDA margin.
More money on Juventus (+2%). The board of directors approved the possible issue of non-convertible bonds up to 200 million euro, indicated range 100-200 million euro. The time window closes in June.
Shaking in luxury: the behemoth Kering, which controls Gucci, began a steep 4% drop after the accounts but later reversed the losses. In the quarter, like-for-like sales rose by 24% to 3,8 billion euros, slightly better than expected. Moncler + 0,5%. Ferragamo + 0,6%.
The banks are advancing on the stock exchange. The big names on the Ftse Mib are doing well, but above all the mid caps such as Banca IFIS (around +7% after the accounts on Monday) to even better Monte dei Paschi di Siena, which rises to almost 10% at noon, at 1,3665 euro per share, with a significant increase in trading volumes equal to 3,6 million shares traded in the first part of the morning alone, against an average of 2,3 million per day in the last three months.
The bank led by Marco Morelli presented the accounts last week which showed a return to profit in 2018 (to 279 million against a loss of 3,5 billion in 2017). An important milestone that testifies to the fruits of the work to bring the bank's accounts back into balance, after the maxi-cleaning of non-performing loans, reduced in 2018 alone by a good 29 billion euros. In addition, the Sienese bank maintained its capital ratios above the 2019 Srep requests by the ECB, with the Cet 1 which at the end of 2018 stood at 13,7%, 240 basis points above the minimum set by Frankfurt.
Among the financial Banca Mediolanum (+2,5%) expects to close 2019 with inflows exceeding 4,1 billion euros, according to CEO Ennio Doris. Where's Banca e B for Bank + 1%.
Unipol +1,5%. Kepler Cheuvreux lifts the judgment to Buy. UnipolSai + 1%.
