Markets head for a positive end to a mixed week. Operators, online with Mario Draghi, await the facts, i.e. finally clear indications on the next Italian manoeuvre. TO Milano the index travels around parity. Positive Paris (+ 0,33%) and Frankfurt (+0,4%). Even modest earnings a Madrid (+ 0,2%) and London, just above parity. The pan-European STOXX 600 index rose 0,2% at 10,50, ready to hit the biggest weekly gains in the past seven weeks during the day.
Tech stocks lead the race in the wake of the Asian markets' recovery. Ams chip makers, Infineon e Siltronic they grow from 2,4 to 6,3%. stm (+1,8%) was promoted to neutral by Bank of America Merrill Lynch.
The euro trades at 1,17 against the dollar, held back by the lower-than-expected inflation figure.
Uphill too GBP at 1,31 on the US currency. Boe Governor Mark Carney yesterday warned of the dangers of a no-deal Brexit, which could lead to a sharp rise in mortgage rates. British builders Taylor Wimpey and Barratt Development lose out.
La Turkish lira trades at 6,08 on the dollar, cross unchanged. During a speech by his party officials in Ankara, Turkish President Tayyip Erdogan accused the United States of being responsible for an "heinous economic attack" that cost the Turkish lira to lose 40% of its value over the course of the year .
In Italy it slows down inflation. In August, the consumer price index recorded an increase of 0,4% on the month, 1,6% on the year. The consensus was +1,7%, from +1,6% in July.
On the bond it BTP-Bund spread it is stationed in the area of 251 basis points. The 2,96-year yield, which now refers to a new benchmark, jumps to 2,64% from XNUMX% but for technical reasons only.
But continue there flight of foreigners from our own titles. Bank of Italy reports that the share of Italian government bond debt held by foreign investors fell to 33,7% in June from 35,4% in May. The result is the lowest since March 2017.
Stable the quotations of the Petroleum, with WTI and Brent at $68,8 and $78,24 a barrel, respectively, with traders assessing the impacts of Hurricane Florence.
At Piazza Affari Saipem recovered almost entirely from yesterday's stop (-4,7%) linked to the unexpected resignation of the Chief Financial and Strategy Officer Giulio Bozzini. Today it earns over 3%. Bernstein's analysts raised their target price to 10,20 euros from 6,6 euros, confirming the Outperform recommendation. The report states that "Saipem's risks have been misunderstood by the market" and that the group will also "benefit from natural gas projects in Mozambique, with orders estimated at $13 billion". Yesterday, SocGen had strengthened the Buy to 5,46 euros from 5,25.
Mediaset +0,43%. Chief Financial Officer Marco Giordani told Ansa that the dividend could be paid next year. The advertising manager reports to Reuters that in the first few months of 2018, revenues rose by 4% on 2017.
Telecom Italy (-0,4%) was awarded, with an investment of 680.200.000 euros, two of the four lots of 5+5 MHz each on the 700 MHz band (10 MHz for upload and 10 MHz for download), available from 2022 and valid until 2037.
Fight the banks: Unicredit + 0,1% Ubi + 0,3% Understanding on equality, Carige +1,1%. Malacalza Investimenti has led its stake to 27,5% (from 25%) near the meeting.
The new leap forward by Giglio Group +10% driven by the alliance with The Blonde Salad, Chiara Ferragni's website, should be noted outside the main price list. For the second day in a row, the title is at the top of the list.
Instead, the bleeding continues Astaldi (-6,1%). JP Morgan is one step away from withdrawing from the role of guarantor for the 300 million euro capital increase. The two billion euro strengthening project risks being compromised.
It also misses out Trevi (-2,5%). The negotiation regarding the entry of a new shareholder, an investment fund, has faded. According to IlSole24Ore, the main shareholders intend to proceed with a capital increase of 130 million euros.
