The European Stock Exchanges are trying to raise their heads. But the spread, that according to Minister Pier Carlo Padoan it "unkindly" reminds us of the debt emergency, it remains above the danger level.
The index FtseMib halfway through the session it rose slightly (+0,15%), to 18.700 points, in line with Paris. Better Frankfurt e London, up 0,4%. Almost unchanged Madrid.
Lo spread between BTp and Bund opened at yesterday's levels, at 201 basis points, to then settle at 198 points, also due to the fall in the yield on the 0,35-year German Bund to 3%, the lowest level in the last three weeks after the German industrial production in December it was down by 2009% compared to the previous month. It is the largest contraction since 75. The France/Germany spread widens to 2013 basis points, the highest level since 10. The 2,34-year BTP is trading at a yield of 2,36%, from XNUMX% yesterday .
Go back up in January Italy's Target2 debt, reaching a new all-time high and updating the previous record, recorded last November. According to monthly data on Bankitalia's balance sheet aggregates, at the end of January the country's liabilities on the Eurosystem payment system amounted to 364,733 billion euro, compared to 356,559 in December. In November, Target2 debt amounted to 358,612 billion. According to via Nazionale, one of its causes for the increase is the repositioning of domestic investors towards mutual funds, often domiciled abroad, in search of higher yields but "do not appear to be correlated to recent changes in the climate of confidence".
THEeuro still losing ground, the exchange rate with the dollar is indicated at 1,067 from yesterday's close at 1,075. After losing almost 2% yesterday, Brent crude moved little this morning with the price at 55,7 dollars a barrel (+0,1%). Eni rises by 0,7%, Saipem +1,3%.
Gold settling on the highs of the last three months at 1.233 dollars/ounce.
Takes altitude Unicredit: +1,37% to 12,39 euros. Ubs confirms the Neutral recommendation and sets the target price after the detachment of the rights at 13,2 euros. The right loses 2,3%.
Bpm bank -3,3%, Ubi -0,6%, Understanding -0,5%. Unchanged Generali: “The company has nothing to defend itself against” said the president of Intesa, Gian Maria Gros-Pietro. "If there is an evaluation of the opportunity to make combinations with Generali, we will let it be known and then the market will be able to judge".
Italian post +0,8%: Mediobanca raises its target price to 8,6 euro from 7,7 euro, Outperform confirmed.
On the Milanese price list it is once again under fire Fiat Chrysler. The stock trades at -0,85%, in a strong recovery after having recorded a drop of more than 5% (minimum at 9,435 euros). The decrease was caused by the news that the French judiciary has announced the launch of an investigation into alleged manipulation of the emissions of some diesel engines.
fca, after reiterating that its vehicles comply with emissions regulations, expressed "its broadest reservations regarding tests carried out on a single example of the model concerned and according to test methods not envisaged by current regulations". Other negative news: FCA registrations in Brazil decreased overall by 24,4% to 17,5 thousand units, while the Jeep brand grew by 16%.
Advance further Cnh Industrial (+0,4%): Goldman Sachs raises its target price to 12,4 dollars from 11,2 dollars, Buy judgment confirmed.
Among other industrialists, Prysmian +0,8%: HSBC raises the target price to 30 euros from 27 euros, confirmed the Buy opinion. Leonardo 0,9% salt, StM + 2%.
