Price lists in stall waiting for time X, i.e. the launch of Qe by the ECB. Thanks to German resistance, the markets of the Old Continent are proceeding cautiously by taking the advice of the Austrian member of the board, Ewald Nowotny, to the letter: "better not to get overexcited - he said - The board will still be interesting". The consensus of economists expects a purchase plan of 500 billion. "I respect the independence of the ECB, but the Bank must give a new message to Europe" said Prime Minister Matteo Renzi in a speech at the World Economic Forum.
In Milan, the Ftse Mib index rises by 0,23% to 19.705, due to the decisive contribution of the cooperative banks, in fibrillation for the reform. Paris retreats by 0,11, Frankfurt -0.04% and Madrid -0,05%. London +0,76%. The euro appreciates against the dollar to 1,157 from 1,115 at the close. The yields of BTPs and Bunds hold their positions, rising slightly from the record lows reached during the week: the Italian 1,68-year bond yields 0,47%, the German one 5%. Germany placed 5 billion 99,78-year bonds this morning at a price of 0,04 (yield XNUMX%).
At Piazza Affari, continues the Popular race, after several suspensions at the start of the session due to an excessive rise. Banca Popolare dell'Emilia Romagna rises by 5,2%, Banca Popolare di Milano +3%, Banco Popolare +5%, Ubi Banca +2%. Banca Popolare di Sondrio +6%, Credito Valtellinese +6% are driving up.
They are banks in other categories were also positive: MontePaschi +0,9%, Unicredit +0,4%. For Jp Morgan the institution remains Overweight but the target price drops to 7,3.
Mediobanca +0,5%. Negative Entente-1%. For Jp Morgan the vote is neutral, target price 2,6 euros.
Telecom Italy Media rises by 6% on the wave of rumors about a possible delisting. Telecom Italia +0,4% specified in a note that no decision has yet been made on the future of the subsidiary. Among the companies in the industry, StMicroelectronics rises by 1 %. Citigroup raised its recommendation to Buy from Neutral.
Oil is up this morning, after yesterday's sharp drop: Brent at 48,5 dollars a barrel (+1,2%), Wti at 47 dollars (+1%). Eni rises by 0,4%. Finally, out of the main index, Stable Goods climbs 1,8%: Goldman Sachs has added the stock to its Conviction Buy List.
