Contrasted European stock exchanges. In Milan, the FtseMib index resists at around +0,3%. Frankfurt loses 0,4% Paris 0,5%. Madrid +0,07% just above parity. Positive ground London +0,33%.
The euro is slightly appreciating against the dollar: the single currency is traded at 1,059 against the greenback, from 1,056 at yesterday's close.
The spread among ten-year German and Italian government bonds it drops to 93 points with a yield for the BTP of 1,42%.
Among the rising commodities, crude oil rose with WTI gaining 1,2% to 42,15 dollars a barrel and Brent +0,9% to 45 dollars a barrel.
Eni -0,4%. Tenaris drops by 0,7%. This morning Goldman Sachs raised the target price on the stock to 12,5 euros from the previous 11,90 euros, confirming the Neutral rating.
Comforting notes are coming from the European macro front. positive from macro data. Eurozone manufacturing growth rose to a 19-month high in November, but the pace is still relatively modest. Markit's final PMI edged up to 52,8 in November, in line with the flash reading and above October's reading of 52,3. The figure remains above the threshold of 50 that separates growth from contraction for more than two years.
Italy's growth slows down. Istat confirmed the previous estimate of 0,2% growth on a quarterly basis, but revised slightly the growth on a trend basis downwards from the previous +0,9% estimated by the government to +0,8%.
Avanza Fiat Chrysler +0,6%. “I am proud and happy. Ferrari has become Fiat's cash machine,” Luca di Montezemolo said in the morning, commenting on the latest moves by the Prancing Horse. Statements that come after Ferrari has refinanced the debt to pay the one to FCA. The data on car registrations in Italy will be released tonight.
Brembo rises by 2,8% and marks the new historic record at 44,56 euros. From January 62 to today, the stock has accumulated a gain of XNUMX% and has excellent chances of completing the fourth consecutive year of positive results.
Stocks continue to rise luxury: Moncler +2,7%. The Investor Day is underway in Milan, a meeting of management with investors and analysts.
Ferragamo +1,3%. Tod's rose by 0,6%. This morning Banca IMI reduced its target price to 80,83 from 91,76 euro, confirming the Hold recommendation, on fears of a slowdown in demand in emerging countries.
Mediobanca Securities pulls the sprint to Mediaset +0,5%. The security is added to the basket of “Long” favourites.
Telecom Italia withdraws by 0,6%. Nomura's analysts confirmed the Reduce judgment on the stock by slightly adjusting the target price to 1,02 euros from 0,99. The savings target rose to €0,92 from €0,89. The broker sees new value and growth margins for the European telecom sector thanks to mobile. Deutsche Telecom stands out among the promoted list.
Among the banks, Intesa rises by 0,8%, Unicredit -0,1%, Monte Paschi -0,4%.
Campari it moves a short distance from the all-time high reached yesterday at 8,3950 euros. Today +0,7% to 8,38 euros. This morning Natixis reiterated the Buy recommendation, raising the target price to 9,0 euros from 8,50 euros.
