European markets in pale red, conditioned by the expectation of central bank meetings and by signs of deterioration of the economic climate in the Eurozone. In Milan, the index drops by 0,1%, around 21.900 points. The decreases in Frankfurt (-0,4%), Paris and London (both -0,3%) were more pronounced.
Among the sectors, oil products rose slightly, while the easing of technology continues, today -0,7%. Slow down in Piazza Affari stm (-1,2%).
Brent oil was flat at 74,3 dollars a barrel, from +1,7% last week.
Eni +0,21% to 1623 euros. Mediobanca and Société Générale raise their stock targets. Italian analysts confirm the Outperform judgment with a target price that rises to 21 euros from 20 euros. The French colleagues confirm the Buy with a target of 20 euros from 19 euros.
It still goes up Saipem (+0,67%) which signed the agreement with 17 national and international banks to extend the maturity and amend the revolving credit line signed on 10 December 2015. The agreement provides for the extension of the maturity of the line from December 2020 in July 2023.
The yield on government bonds increased this morning at auction. The ten-year term was assigned to 2,87% (against 2,77%) for the maximum amount of 4 billion. The 5-year bond (assigned at 1,8% (against 1,82% previously)) moved little. Ccteu was also assigned at a yield of 1,75%. The spread is 232 basis points.
The yield on the 0,43-year German Bund rose to a one-month high at 14%. This afternoon at 00:0,4 the data on German inflation expected to grow on a monthly basis (+2,1%) and unchanged on an annual basis (+16%) will be published. The advances provided by the first six German laender (out of a total of 2) confirm that inflation in July remains above the XNUMX% target set by the ECB. The main reason is linked to the rise in energy prices.
The euro is on the rise against the dollar to 1,168, last week the euro-dollar cross lost 0,6%.
On the stock list in great evidence Mediaset up 2,7% after a weak start. Goldman Sachs intervened on the stock this morning by strengthening the Buy judgment, the target price was adjusted to 3,95 euros from the previous 3,87 euros. The Alfa Romeo company closed the first half with a net profit of 42,8 million euros compared to 74,5 million in the same period of 2017 (-42,5%).
Leonardo (+1,4%) today presents the results of the quarter: the consensus expects revenues of around 2,9 billion euros.
Deutsche Bank it rose 1,3% after it said it moved a large part of its clearing business to Frankfurt from London. Weak Italian banks that on average yield 0,4% in line with Europe. Ubi e Bper they lose respectively 1,4% and 1,6%. On Bper Banca Akros cut the rating to "neutral" from "accumulated" after the important rebound of the share in June.
Weak Prysmian (-0,5%). On Friday, the capital increase for 500 million ended with the full subscription of shares without the need for the intervention of the guarantee syndicate banks. Well done in the Agnelli stable fca (+0,8%), while the morning drop recovers Cnh (-0,3%).
He misses out Rest (-3,2%) after Friday's rise. Sales prevail despite Hammer Partners' decision to upgrade the rating to Buy from Neutral. Amplifon +4%, promoted to "buy" by Jefferies after the half-yearly. Well too Aeffe, aided by Mediobanca's promotion to "outperform" from "neutral" after the accounts.
