The European stock exchanges gathered courage during the morning on the wave of positive indications arriving from Wall Street, where futures signal an upward start of more than one point.
The Exchange of Milano, despite an increase of almost 1%, just below 22.400 points, is the least lively. Much more robust the rebound of Frankfurt (nearly 1,8%), Madrid (+ 1,7%) and Paris (up one and a half points). London scores +1,2%. Also prominently featured Zurich (+1,7%) on the day of the accounts of Nestlé and Crédit Suisse.
On the European lists, the drop in Heineken, -3,7% after the cut in growth estimates.
Markets too fixed income I'm in ferment. Waiting for data onUS inflation, scheduled for Wednesday, the shrinkage of the is confirmed spread between the most fragile countries and "core" Europe. A study by Bank of America Merrill Lynch forecasts “the spread between Italian and German ten-year bonds at 80 in 12 months, compared to 128 at present”.
This morning the Italian Treasury placed all 6,5 billion euros of Bots at 12 months, with a yield up from the all-time low of the previous auction. The rate rose to -0,401% from -0,42% marked a month ago. The ten-year Bund trades at 0,77%, the yield of the BTP is 2,02%. Tomorrow will be the turn of the medium-long term offer, between 6,25 and 7,75 billion in total of 3, 7 and 30-year BTPs. In addition to the Italian offer, the week promises to be rich in the primary sector: medium-long auctions from Germany, Portugal, France and Spain are on the agenda between Wednesday and Thursday.
The relationship is not moved euro-dollar, 1,228.
Il Petroleum Brent rebounded by 1,6%, to 63,80 dollars a barrel, after -9% last week. Energy securities recover in Piazza Affari. Eni (+1,3%) will announce the operating accounts at the end of the week. Saipem + 1,6% Tenaris + 2,4%.
In the Ftse Mib basket, only 8 out of 40 stocks are in (slightly) negative ground.
Positive the banks on the wave of the results that emerged in the last week. In evidence Bpm bank (+0,94%). salt Understanding (+0,36%), brakes Unicredit (-0,54%).
Mediobanca +1,13%. This morning Morgan Stanley raised the target price to 11,8 euros from 11,50 euros. Overweight judgment confirmed.
Out of the main basket on the day of accounts they advance Banca Mediolanum (+ 0,54%) and Dobank (+ 0,16%).
Bucking Banca Carige (-6,25%), in deep red after announcing a loss of 380,7 million (291,7 million a year ago). Very bad too Monte Paschi Bank (-4,95%) after the announcement on Friday evening of last year's numbers, closed with a loss of 3,5 billion against the red of 3,2 billion the previous year. The CFO explained in the conference call that the impact of the first application of the new IFRS9 accounting standard from 2018 January 1,2 will be XNUMX billion.
On the rise Generali (+ 1%).
Among the industrialists, purchases are flocking again stm (+1,80% to 17,49 euros). This morning Kepler-Cheuvreux raised the recommendation to Hold from Reduce, with the target unchanged at 17,90 euros.
A sharp rise Fiat Chrysler (+1,32%) in line with the rise of the sector in (+1,6%). Well too Exor (+ 0,34%) and Ferrari (+0,40%), which announced its intention to launch a 100 million euro treasury share purchase plan.
In the rest of the main basket, Enel +1,2% two days after the preliminary results for 2017. Telecom Italy + 1%. Buzzi + 2,8%. Moncler + 2,5%.
Among the minor titles, Enertronics is up 7% after signing a preliminary contract for the acquisition of the brand and know-how of Tecnobus, the historic manufacturer of electric buses both in Italy and abroad.
