The economy disappoints, but the corporate accounts satisfy the market and the European stock exchanges close in a big way, also dragging Wall Street, which moves in tune in anticipation of President Donald Trump's speech on the state of the Union (tonight at 3 am Italian time).
Frankfurt +1,75%; Paris +1,66%; Madrid +1,32%. Stellar London, +2,06%, where BP gains 5,17% following the higher-than-expected 2018 performance and the upward revision of estimates on future oil and gas production. The energy shares of the other price lists are gaining in the wake, including Eni +1,04%.
Piazza Affari is in the queue, albeit up: +1,16%, 19.833 points. The banks did well, especially Mediobanca +3% and Banco Bpm +3,13%. Positive Agreement, +1,33%, which slows down after presentation of positive results 2018. Purchases on Fincobank (+1,2%), which beats expectations and increases the dividend by 6,3% (0,303 euro per share). More timid Bper, +0,17%, in the wake of news of the purchase of Unipol Banca. According to Reuters, the resolution will be adopted the day after tomorrow by the board of directors. Unipol (+0,59%), a shareholder of the institute, is also the leading shareholder of Bper with a 15% stake.
The best title on the Ftse Eb is Amplifon +4,51%. Pirelli +3,57% and Recordati +3,24% are up. Telecom is appreciated, +1,89%, on the day of the first meeting with Open Fiber. Sales are concentrated only on Stm, -1,04%, penalized by the worst accounts of the estimates of the Swiss semiconductor manufacturer Ams (-6,89% in Zurich) and Enel -0,19%.
Concerns about macro data, on the other hand, spill over into bonds. The 2,79-year yield rises to XNUMX%, while the spread with the Bund increases to 262.60 basis points (+1,51%). According to the data released today, the PMI services is at 49,7 e the composite PMI is at its lowest since November 2013 at 48,8, both below the threshold of 50 that separates growth from contraction and below analysts' estimates.
In the afternoon, the news that the ministry of the economy has entrusted the mandate for one to a pool of banks also affects the secondary sector new XNUMX-year syndicated issue expiring on 2049st September 5. From a political point of view, we note the agreement between Lega and XNUMX stars for Paola Savona as president of Consob. The council of ministers has thus started the procedure, even if the opposition announces battle. The interim of European affairs, a ministry currently led by the economist, will go to Prime Minister Conte.
Euro down against the dollar, with the exchange rate in the 1,14 area. The single currency, on the other hand, rose against the pound at 0,882. The president of the European Commission, Jean-Claude Juncker, will receive British Prime Minister Theresa May, in Brussels on Thursday to talk about Brexit. May will present himself with "new proposals".
Partially negative oil, Brent $62,522 a barrel (-0,46%). Gold moved little around 1314 dollars an ounce.
