THEfed effect invests the European stock exchanges, all sharply up. Piazza Affari is no exception: the index Ftse Eb it advances 1,5%, above 16,500 points. Same gain for Madrid, while doing even better Paris e Frankfurt, both up by 1,7%. London + 1,10%.
To comfort the good mood contributes the very positive outcome of the new Ltro auction of the ECB: Eurozone banks raised €45,269 billion in four-year interest-free funds. The ECB has satisfied the requests of 249 banks. The amount awarded was higher than expected.
On the currency front, the dollar is losing share against all currencies. The euro rises to 1,124 from 1,118.
Yields are down government bonds: the 10-year BTP is trading at 1,21%, from 1,28% yesterday. The yield of the Bund returned negative to -0,04%, from zero yesterday.
Il Petroleum it is on the rise, driven by the latest data on US hydrocarbon stocks, which are lower than expected. Brent is traded at 47,2 dollars a barrel (+0,8%), Wti at 45,8 dollars (+1%). Oils advance: Saipem gains 4,3% after announcing new contracts for 430 million dollars, Eni + 1,2% Tenaris + 2,5%.
However, the greatest increases concern the automotive industry (+1,9% the Stoxx index): Fiat Chrysler salt of 1,5%, Daimler + 2,2% bmw +2%. In cash too Brembo (+ 3%).
Good upside of Cnh Industrial (+2,5%) after the very positive data on truck sales in Europe in August.
Prysmian gains 3% and updates the historical highs again: HSBC has raised the judgment to Buy from Hold with a target price of 27 euros. Kepler Cheuvreux raised the target price to 25,5 euros from 23 euros, confirming the Buy rating.
Italian banks are accelerating (+0,8% for the Italian index against +0,4% for the European one). Among the best titles Mount Paschi (+1,6%). The president of the EBA (European Banking Authority), Andrea Enria, in an interview with La Stampa said that the problem of non-performing loans must be resolved quickly and that, if state aid can be part of the solution, "if use". Enria underlines that "the European rules guarantee a certain degree of flexibility".
Unicredit, on the other hand, fell by 0,1% despite the rumors about possible sale of Fineco (+0,6%) to Banca Generali (+1,8%). They retreat Ubi (-1%), Pop.Emilia (-0,5%) And Mediobanca (-0,2%).
Well the luxury: Ynap (+3,6%) ahead of Luxottica (+ 3%) and sapphire (+5%) after the outperformance of Exane. Ovs + 2,5%.
MolMed +3,5%, reaching a two-year high. Campari +2,3% after announcing some operations to lower the cost of debt.
Complete the picture Telecom Italy: +2,1% after yesterday's leap (+2,6%). This morning Macquarie upgraded the rating to Outperform from Neutral. The new target price is not known, the previous one was set at 1,0 euro. The Australian broker's analysts are optimistic again after 18 months of caution.
