The Stock Exchanges are cautious, awaiting more precise indications on duties and the flurry of messages which, as is now his custom, Donald Trump will launch from Hanoi after the first handshake with Kim.
Piazza Affari recovers parity to 20.420 points after the brilliant outcome of the Bot auction: 6 billion were placed euros in half-yearly securities to source a demand of 9,9 billion of Euro to yield di -0,007% (plus 2 cents). The spread drops again to 259 points, to its lowest since February. The 2,71-year yield is XNUMX%.
The worst Stock Exchange is London -1,14%: il english governmentand if it is hovering between a postponement of Brexit and a second referendum. The prospect of a return to the polls is giving wings to the pound, at 12 at the highest since May 2017 (0,8610 pound for one euro). Ithe contractor British Defense Babcock loses 5,7% after having disclosed that the restructuring costs for Brexit they will amount to around £10 million a year.
Weak Paris -0,21%, virtually flat Frankfurt -0,03%. German consumer confidence is stable in March, suggesting that household spending will support the economy in the first quarter of the yearo. Basf earns 3,9% after making a slight profit higher than expected, despite having dropped by almost 60% a due to the weak performance of the petrochemical unit.
Madrid -0,60%. The new syndicated issue maturing July 2035 has received orders for 43 billion against the 5 billion offered. It's A good premise for tomorrow's auctions of the Italian Treasury which, among other things, will see the debut of the new ten-year anniversary.
Markets are watching Jay Powell's US Senate hearing with great attention on the performance of the economy. Brent oil, rolled out yesterday by un tweet by Trump, is up 0,5% to 65,2 dollars a barrel. Sale Saipem + 2,3 % on the highs since mid-November (+ 24% in the last 12 months). Berenberg started covering the main companies of the European Oil Services sector. Positive judgment for la Italian company (Buy judgment) e Technip, considered among the best choices in the sector as they are well set up to ride the sector's recovery after difficult years. Eni -0,38%.
In Piazza Affari the race of Fincantieri + 14 % after accounts 2018 higher than expected. The company it closed the year with a profit of 69 million, up 30% on the previous year. The tbsp therefore decided to propose to the shareholders' meeting on 5 April the distribution of a dividend of 1 eurocent per share. Kepler Cheuvreux has raised its rating from hold a buy and the target price from 1,15 at 1,3 euro. A summit is scheduled for today of government with economic dossiers and appointments at the centre tops of Snam, Italgas and of Fincantieri itself.
The auto sector falls in line with the rest of Europe. Fiat Chrysler on equality. The Melfi plant, from whose production chains the Jeep comes out Renegade and the 500 X, shut down for 16 days next month due to weak demand.
The rally continues Piaggio + 4%. Mediobanca today confirmed the judgment Outperform (Interesting) on the stock, with a target price of 2,5 euros. Yesterday the recommendations of Equity Yes and Banca Akros, respectively Hold and Buy, with target prices of 1,9 and 3,1 euros.
Bene Diasorin +1,48%, when braking Telecom which yields about 1% in line with the European telecommunications sector. In recovery the banks that reduce the drop of a few decimal places and yield an average of 0,4%. They come back positive Bpm bank e Mediobanca, Unicredit -0,5%, Understanding -0,4%.
Enel + 0,65%, Italian post + 0,4%. The government does not intend to sell strategic assets, the disposals of public assets will only concern real estate, says Prime Minister Giuseppe Conte to Sole24Ore. Berenberg initiate coverage with a Buy judgment.
