Piazza Affari never ceases to amaze and even today, in the final, it conquers the pink jersey, stopping at +0,27%, 19.626 points. The other European markets are in no particular order: London, +0,17%, followed by Frankfurt and Paris in parity, Madrid -0,33%. The enthusiasm of Wall Street knows no tiredness and in the middle of the day the stock markets move in positive territory, pending the minutes of the Federal Reserve meeting last December, on the rate hike for the first time since December 2015. The psychological threshold of 20.000 she seems ever closer to the Dow Jones, who courts her, revolves around her, but still doesn't conquer her. Who knows if Piazza Affari doesn't have a burst of pride and fails sooner in the enterprise.
The best stock of the day in Milan is Ferragamo, +4,17%, promoted by hold to buy by HSBC analysts, with a target price from 23 to 29 euros, also thanks to access to the "patent box" regime, which should reduce by about 8 percentage points the tax rate at least until 2019, allowing the net profit to grow by double digits in the three-year period 2016-2018.
Salvatore Ferragamo is one of the stocks that, together with Moncler and Cucinelli, gained in 2016, while the Ftse Italia moda (household and personal products) lost more than 10%, with a difference of over 20 percentage points compared to the reference Euro Stoxx, up by 11,6%. A rude awakening since 2015, when made in Italy luxury had gained almost 30%.
Banks today travel in no particular order, but overall they are doing well, the postponement of Basel 4 has made the whole sector breathe a sigh of relief at European level. Ubi sits on the podium +4,55%; Banca Mediolanum +3,6%; Banco Bpm +1,49%, consolidates and increases its results, while Bper falls by 1,65%. Earn Chemistry +1,44%; Unicredit loses -0,28%. Worth mentioning outside the main Banca Profilo list: +19,57%.
Mediaset is back on the shields +1,22%. Shopping day on Italgas +1,6%; Fiat floats despite sales in the USA having fallen by 10% in December compared to a year ago and the stock consolidates its highest level since October 2015.
Many profits. Sales mainly affect Saipem -2,37%; Brembo -1,99%; Moncler -1,74%; Stm -1,14%; Exor -0,9%. Brent +0,96% to 56 dollars a barrel. The euro recovered, +0,72%, traded at 1,048, after the fever of the night, which had brought it to a 14-year low against the dollar at 1,034.
Inflation also recovered in Italy in December (+0,05%), but nothing that could improve the fortunes of 2016, overall in deflation as it hasn't happened since 1959. In addition, inflation is regaining space in Europe: Eurostat estimates the rate at 1,1 .0,6% year-on-year, compared to 0,75% recorded in November. The credit, or the fault, can be oil and this is a fact that operators are still metabolising. The spread drops: -159.20%; 1,88 basis points; yield XNUMX%.
