Benefits a Milan after the rally of the last three sessions (+8%). The Ftse Mib index fell by 1,1%, around 18.200, mainly due to the banks. The other European stock exchanges are not moved much: Paris salt of 0,1% as London, Frankfurt -0,2% Madrid -0,5%.
After yesterday's intervention by the ECB, the spotlights shift to the meeting of the Fed next week, though there's little doubt what President Janet Yellen will announce. Surveys show that 98% of economists expect a rate hike. “We expect a 25 basis point increase in the Fed funds target range, to 0,5-0,75%”, write the BNP Paribas analysts, adding that “the challenge for the Federal Reserve will be to react to uncertain fiscal stimuli that could potentially disrupt its growth forecasts.”
The yield of BTP at 10 years it is stable at 1,99%, while that of the German Bund drops to 0,36%, from 0,38% yesterday. The change euro/dollar is unchanged at 1,062.
Petroleum up slightly in view of the important meeting in Vienna this weekend between the leaders of Opec and 14 producing countries not adhering to the cartel, to agree on common measures to support prices. Russia has confirmed its willingness to cut production by 300 barrels per day. Brent crude rose by 0,6%, to 54,2 dollars a barrel. Opposed the oil companies: Eni drops by 0,2%, Saipem loses 0,3%, Tenaris -0,3%.
They fix the banks, starting with Unicredit (-4,6%) on the eve of the week of the announcement of the new strategic plan and the capital increase. Intesa withdraws together with Banco Popolare (-4,1%), Banca Pop.Emilia (-3%) and Mediobanca (-2,9%). Lose 0,6% Mount Paschi, waiting for decision of the European Supervisory Authority on the postponement of the ultimatum on the recapitalization of the Bank.
The eurozone bailout fund is not preparing financial support for Italy despite the fact that some individual Italian banks need a capital increase, said Klaus Regling, number one of the European Stability Mechanism.
Benefits also taken for insurance and asset management: Generali -2% Unipol -2,5% Banca Mediolanum -2,4% Azimuth -1,7%.
Weak industrialists: Leonardo drops by 2,1% after losing a large order (1,7 billion euros) for the sale of military aircraft in Canada, which went to rival Airbus.
Also declining Fiat Chrysler (-0,8%), Cnh Industrial (-3%) And Prysmian (-1,6%).
