After a positive start, the main European stock exchanges hover around parity in the middle of the day, despite yesterday's gains and the positive closure of Wall Street. In Milan the Ftse Eb marks -0,08%. Little moves tooParis (-0,09%) And London (-0,1%). It gets worse at Frankfurt (-0,5%). Dominating the markets is the expectation for the first testimony of the new Fed chairman, Jerome Powell, in front of the US Congress, scheduled for 16 pm Italian time.
On the Asian front, the main Chinese stock exchanges closed the session lower, weighed down by profit-taking. TO Hong Kong the Hang Seng index dropped 0,73%, falling to 31.268,66 points. TO Shanghai the decline was even more striking, with the composite index contracting by 1,13%, to 3.292,07 points, while at Shenzhen the benchmark index lost 0,34%.
From an international point of view, the case of the day is the rally of Sky on the London Stock Exchange, where the group's shares jumped by 18,87%, to 1.313,5 pence, after the announcement of the 22,1 billion pound tender offer of the US group Comcast, which put on the plate 12,50 pounds per share, 11% more than the closing value on Monday evening, but already surpassed by current stock market prices. Comcast thus challenges Rupert Murdoch's 21st Century Fox, which had offered 11,7 billion pounds to acquire 61% of the company, an operation then frozen by the British Antitrust.
As for the Italian market, the title of shines Poste Italiane (+5,8%), which scores the best performance of the Ftse Mib on the day of the presentation of the new industrial plan to 2022. In particular, the group expects an increase in revenues of 1% per year, while the operating result should rise on average by 10% every 12 months and the net profit by 13% per year. Return on capital (Roe) is seen at 13%, up 3,4 percentage points. The plan also estimates "a dividend policy based on the 2017 level of 0,42 euros per share, with an increase of 5% per year until 2020" and a "minimum payout of 60% from 2021 onwards".
It also runs Moncler (+3%), which exceeds 29 euros per share (new all-time high) following the announcement of the accounts 2017closed with revenues of €1,1 billion, up 17% at constant exchange rates and 15% at current exchange rates. Net income reached 249,7 million, up 27%, while the proposed dividend amounts to 0,28 euro per share. According to Equita Sim analysts, Moncler's numbers are “slightly above expectations but with superior quality. The outlook will be outlined in today's Capital Markets Day, but the company expects further growth on 2018 thanks to brand strengthening, further international development and expansion of the offer".
Day of passion, however, for the title Luxottica, which leaves 2% on the field, one of the worst performances on the Ftse Mib. Yesterday after the markets were closed, the group communicated its 2017 accounts: consolidated turnover of 9,15 billion (+0,8% on 2016), operating profit of 1,3 billion (-3,3%) and a net profit of 1,03. 22,4 billion (+1,028%), against record cash generation of 2018 billion. For 2, the company estimates a turnover increase of 4-2017% at constant exchange rates. For Equita Sim, the 2018 financial statements show "good margins and cash generation", while the estimate for 2 is "slightly below expectations". The experts therefore revised the adjusted earnings per share estimates downwards by 54% and the target price to 55 euros from XNUMX.
Among the bank stocks, Unicredit + 0,65% Understanding +0,58% and Ubi +0,08%. Always in the main basket, Tim -0,46% Pirelli -1% Enel -0,2% and Atlantia -0,86%.
On the foreign exchange market, theeuro it goes back to 1,2340 dollars (from 1,2317 yesterday) and to 132,08 yen (from 131,70).
Declining the price of Petroleum, with the April future on WTI losing 0,22%, to 63,77 dollars a barrel, while that on Brent dropped by 0,15%, to 67,40 dollars. At Piazza Affari Eni -0,13% Saipem -0,4% and Tenaris -1,1%.
Finally, on the debt market, the BTP-Bund spread it stood at *** basis points, against 137 at yesterday's close. The yield on ten-year BTPs was stable at 2,01%.
