The European Stock Exchanges are stabilizing after the recent records. The not comforting forecasts on orders from German industry offered the opportunity for a break (-4,2% in February). The five economic research centers have cut their estimates for Germany's GDP growth in 2019 to +0,8%: a month ago experts, including the Ifo, estimated +1,9%.
Piazza Affari loses 0,34% around 21.650. Paris -0,12%. Frankfurt does better +0,27%. The most negative variation is that of London -0,4%, while the attempt to avoid the hard Brexit continues. On positive ground Madrid +0,36%.
The yield of the German Bund is back in negative territory: -0,01%.
The market reversed course once the Spanish auctions concluded in which Madrid has placed around 3,5 billion in Bono maturing in October 2021, April 2029 and indexed in November 2027 France instead placed €9 billion in securities maturing in May 2029, May 2034 and May 2050. The yield premium between Italy and Germany on the ten-year segment is unchanged at 255 basis points compared at the last closing as the 2,54-year reference rate at XNUMX%.
It certainly doesn't help Ubs report which advises against investing in Italy, where the unstable political scenario and possible early elections are not to be considered a positive event. Mario Draghi's support should, according to the authors, prevent flare-ups in the spread, but it shouldn't help Piazza Affari much. Among the sectors to avoid: insurance and banks.
To hold the court, not only in Piazza Affari, is Unicredit -1,18% which, according to rumors in the Financial Times, is preparing an offer for Commerzbank +3,1%. The newspaper reveals that Unicredit aims to take a significant share of the institution, the first step in a broader operation, the ultimate goal would be that of a merger between the old HypoVereinsbank, now within Unicredit, and Commerzbank.
Brent oil is down 0,4%, in the aftermath of the unexpected jump in US strategic crude inventories. Oil prices go down: Eni -1%. Saipem -1,5%, Tenaris -1,3%.
Meanwhile, sales continue A2A -1,5% in the wake of the presentation of the industrial plan to 2023.
Weak Fiat-Chrysler -0,7%: there are no formal and specific negotiations with PSA Peugeot, says Carlos Tavares, the CEO of the French group. Bank Bpm -1%. Operations to dispose of non-performing and non-performing loans are continuing, the managing director said yesterday. Ducato could be listed on the Stock Exchange.
On the rise, among MidCaps, Gima TT (+ 3,54%), Mondadori (+ 3,07%), Datalogic (+ 2,35%) and Falck Renewables (+ 2,02%).
