The European stock exchanges lose their shots under stress due to Donald Trump's pressure on tariffs. The markets are also cautious awaiting the data on US employment: last month the indication on the increase in wages was the trigger for the sudden fall in the price lists. TO Milano (-0,3%) the Ftse Mib index oscillates around 22.600 points. Similar loss for Frankfurt, the market most sensitive to exports. Slightly down Madrid (-0,07%), Paris (+0,12%), in practice flat London.
Eurozone bonds moved little. The yield of the Bund rises to 0,64%, from 0,62% yesterday. At the beginning of February, the yield had reached 0,76%. The ten-year BTPs remain below 2% (1,98%).
Spotlight still on Telecom Italy on the day of the meeting between CEO Amos Genish and the Elliott activist fund. However, the rise in the stock is fading: from +2% at the opening to +0,2% at 13pm. In addition to the spin-off of the network and the sale of a minority stake, Elliott's representatives could suggest extraordinary operations in Brazil ( see merger with Oì).
Brake in the meantime Mediaset (-0,8%), flying yesterday on the wave of renewed hypotheses on a merger with Tim.
It still goes up Atlantia (+4,4%) which should share Abertis' assets with ACS, in order to avoid a clash of raises. Rest + 4%
The banks are weak: the sector index is down by 0,8% (-0,3% for the European sector). Unicredit -1,4% Understanding -0,7%. Bpm bank -3%.
In stark contrast Creval (+11,5%) celebrates the high level of subscriptions to the capital increase from 700 million, higher than expected. Well bought too Carige (+3,5%) pending the possible upcoming battle on governance after the entry of the new major investor Raffaele Mincione who has not obtained a seat on the board.
Based on Bank of Italy data, in January business loans grew by 1,9% year on year, raising the percentage increase in total loans granted to the entire private sector to 2,7%. Net non-performing loans fell to 59,3 billion euro. The rates on new consumer credit disbursements soar to 8,45%.
Crude oil is up after two days of decline: the Brent contract is up 67 cents to 64,28 dollars, the WTI gains 51 cents to 60,63 dollars.
0,8% salt Tenaris, which will take advantage of Mexico's exclusion from the tariffs introduced by Trump on steel and aluminum.
It loses about 1%. fca which, according to Mediobanca Securities, has already discounted the effect of Trump's measures.
In luxury it suffers Ferragamo (-1,8%) after announcing yesterday, with closed markets, a sharp deterioration in profitability in 2017 and a difficult start also for the beginning of 2018.
In the rest of the price list, a new step forward by Erg (+3%) after the extraordinary dividend.
Aeffe +1,5% after Mediobanca Securities, which has an 'outperform' rating on the stock, revised its target price upwards to 3,3 euro.
