Stock markets are galloping awaiting the start of the meeting between G7 finance ministers and the major central banks. Business Square, which has lost 17% in the last eight sessions, recovered 1,9% this morning after having reached a maximum of more than 2,5%. They limit hikes too Paris (+1,5% from the initial 2,5%), Frankfurt (+1,8%), better Madrid + 2,2 % Zurichor +2,3%. Londonto +1,8%%.
The rise was reduced by the news from Reuters that IThe G7 communiqué will rule out direct calls for new spending or cuts central bank interest rate coordinates.
Reuters also says the European Central Bank is working on a series of measures to provide liquidity to businesses, including a targeted long-term refinancing operation (TLTRO) aimed at small and medium-sized businesses. In the meantime, the data on inflation confirms the problems of the Eurozone: in February the average growth in consumer prices on an annual basis stood at 1,2%, compared to 1,4%-
Donald Trump, on the other hand, has called on the Federal Reserve to significantly cut interest rates.
The BTP trades at 1,13% Tomorrow the meeting with the social partners is scheduled on the measures to be included in the decree which provides for interventions for 3,6 billion. The spread it fell around 162/163 points.
On the eve of the OPEC+ summit the Petroleum Brent is up 2,7% to 53,3 dollars a barrel, from +2,7% yesterday. Oil recoveries: Eni +0,8%, below parity Saipem -0,1%.
Second day of recoverygold, at 1.595 dollars, overwhelmed on Friday by sales that could have started precisely from the central banks, in preparation for the offensive that is about to start.
The Ftse Mib blue chips are largely positive.
It's an exception Bpm bank -1% that presented today the new industrial plan to 2023 which provides for more than 800 million in dividends and 1.100 early retirements "with generational turnover". The plan contemplates the hypothesis of a negative Italian GDP.
Avanza Intesa Sanpaolo +1,9%, promoted to Buy by Banco Santander. Unicredit +1,7%. It also advances Italian post + 4,88%.
In great evidence Diasorin +3,4% after German biotech Thermo Fisher launched a 10,4 billion euro takeover bid on Qiagen, a Dutch manufacturer of medical tests, including those for cancer and the coronavirus. The offer, at 39 euros per share, incorporates a 23% premium on yesterday's prices.
Avanza Recordati + 2%.
Well the utilities: A2A + 2,5% Enel + 1,6% Terna + 1,3% Snam + 1,8%.
Atlantia -0,7%: Moody's cuts the rating to Ba2.
Recover stm +2,8%. Citigroup analysts believe that the downward revision of the forecasts arrived in recent days by NXP and Microchip do not harm European semiconductor producers.
Spindle shafts Exor + 2,3%. Fiat Chrysler +2,5% awaiting Mike Manley's conference call. Pirelli +0,2%: HSBC cuts the target price.
Also worth noting:
- Piaggio +3%. In Italy, the two-wheeler market increased by 14% year on year in February to 19.790. The growth of Spain was also very strong (+21%).
- Saras +2%, it closed the fourth quarter of 2019 with 79 million euros of adjusted Ebitda, below analysts' expectations. The net result was also lower than expected. The company presented the new business plan.
