The European stock exchanges are cautious awaiting the indications that could arrive during the week from the Fed and the outcome of the vote tomorrow, Tuesday, on Brexit by the British Parliament which could rule for a postponement of the divorce from Brussels to a later date. Meanwhile, Piazza Affari is down by almost half a point: -0,5% to 19.710 points. Similar decrease for Paris (-0,41%), Frankfurt – 0,26%. Madrid is doing worse – 0,68% paralyzed by the anti-Uber taxi strike. London -0,4%.
There is expectation, at 15:00, for the speech in Brussels by the president of the ECB, Mario Draghi, before the Economic Commission of the European Parliament in his capacity as central banker. At 17:00 the banker will give an encore, this time as president of the Esrb, the European Systemic Risk Board in Brussels.
The euro/dollar cross travels just below 1,14 to 1,139. Gold is barely moved at $1.300 an ounce. Futures on Wall Street are also down: S&P 500 -0,5%.
The Btp/Bund spread narrows again to 248 points from 251, on the eve of the resumption of Treasury auctions. The 2,702-year yield at 6,5%. Tomorrow 5 billion six-month BOTs will be auctioned, Wednesday it will be the turn of 10 and 6,5-year BTPs together with Ccteu for an amount between 8 and XNUMX billion.
Oil also fell to 60,5 dollars a barrel. Eni -0,5%. The group has signed one of the most important agreements in the refining sector, valued at $3,3 billion, to acquire 20% of Adnoc Refining. The latter is a company of the Adnoc group, the Abu Dhabi state oil company, with a refining capacity of over 900 barrels per day. Rbc Capital Markets analysts confirm the sector perform judgment and the target price at 16,5 euros. According to analysts, despite the disbursement, the expectation remains unchanged that in the next industrial plan, scheduled for March, the Italian major will be able to announce the launch of the share buyback plan.
In Europe, commodity companies are on the rise, in particular Rio Tinto +2,5%. Plus sign also for the Stoxx of telephony. Banks down: Stoxx -0,9%.
On the rise in Piazza Affari Tim +0,7% which recovers after the recent decreases despite the downgrades of Jp Morgan which reduced the target to 49 cents and the rating to neutral, but underlines that the spin-off of the network can be worth up to 60% upside. Jefferies has cut its target to 66 from 75 cents, but confirms the 'buy' rating. Meanwhile, Open Fiber has come forward to forge commercial and industrial partnerships. Elliott and Vivendi raise the tone of the confrontation.
Among the financial continues the rise of Azimuth +3,15%, supported by the new commission calculation system. Fineco Bank -1,54%.
Banks in red. Unicredit -1,56% announced that they have thwarted a cyber attack. Understanding -0,99%. The former Popolari are also down: Bpm bank (-0,46) and Bper (-0,7%).
In negative ground for utilities. The government intends to increase the fees relating to hydroelectric concessions. As reported by the Sole24Ore on Saturday, the amendment to the Simplifications decree supported by the League, it also provides for a reformulation of the terms of the concessions, as well as the obligation to sell a tenth of the hydroelectric energy produced by the plants: Enel -0,19% Italgas -1,5%. Down too Iren -2%. A2A -0,1%.
In the rest of the list:
Takes flight Lily +8,6% driven by plans for e-commerce.
The march by also continues in Piazza Affari Juventus + 1,8 %
Crolla De 'Longhi -8,79%: 2018 revenues are disappointing. Banca Akros has reduced its recommendation to Reduce da Hold. Target 21 euros from 26 euros.
Resumes the decline of Tod’s -2,2%. For Jefferies it is to be sold, Underperform rating and target price at 34 euros. The broker points out that, since 2012, the group has lost 550 million in revenues with an erosion of its market share mainly due to the lack of brand appeal among the new generations.
