Markets little moved waiting for the data onUS inflation leaving at 14,30pm. The forecast is for a decline to 2,9% per year from 3,4% in December and from 3,9% to 3,7% for the core one.
Michelin and Pirelli run, the Zew index improves
In the meantime, the excellent performance of Michelin +4%, after a record operating profit. Follows closely Pirelli +2%, best stock in Milan. TO Business Square -0.43% also stand out Hera (+2%) e Mount Paschi (+1,1%). Heavy instead stm (-2,53%).
To report the Zew index which improved in February and reached the highest levels of the last twelve months at 19,9, from 15,2 in January, the consensus was 17,3. The current conditions indicator worsens slightly to -81 from -77. The index built on a survey of investors, economists and entrepreneurs reached its seventh consecutive month of improvement in February, however strong pessimism about today's situation remains.
In Frankfurt it shines Tui (+4)%. The tourism group closed the first quarter with a positive operating result of 6 million euros against the loss of 153 million in the same period a year earlier and the consensus red of 102 million.
The futures of the price lists are also in red Wall Street, waiting for the inflation numbers, which are fundamental for understanding the direction of the Federal Reserve.
Government bond auctions
In Milan the most positive news concerns fixed income. The medium-long auction recorded mixed returns for 3- and 20-year bonds, which reached a two-month high and the lowest level in the last two years respectively. In the placement - which saw the Treasury assign the maximum amount of 8,5 billion euros - 3,5 billion were placed in the February 2027 security with a yield of 3,15%, the highest since December, compared to 3,03, 1,5% of the mid-January auction. 2043 billion assigned in the twenty-year period September 4,38 with a gross rate of 2022%, minimum since February 5,03, compared to 1,5% in mid-October when it reached an all-time high. Finally, 2 and 15 billion were also assigned in the two seven-year off-the-run contracts expiring on 2030 June 15 and 2030 November XNUMX respectively.
Il Btp deals al 3.91%.
