Milan closes the week on a high note, with the third rise in a row, on a tepid day on the stock exchange, with European and American lists tending to be reflective, awaiting the speech in the evening by the chairman of the Federal Reserve, Janet Yellen. Piazza Affari stands out for the best performance, with the Ftse Mib which stops at +1,15%, 19.664 basis points, thanks to the banks: +2,9% the sector index.
Positive Paris +0,63% and Madrid +0,7%. Weak London -0,11%; worse Frankfurt -0,27%, with Deutsche Bank down, -1,4%, after rumors about a possible capital increase by the credit giant within a short time. The spread between Italian and German 175.80-year bonds dropped sharply to 3,69 points (-2,12%), yield XNUMX%, also in the wake of the new recovery of the French paper, after the release of the latest polls on the elections.
Wall Street opens “rosé”, with the Dow Jones dropping below 21.000 points and the three main lists essentially trying to consolidate the records achieved. Snap remains euphoric, after yesterday's debut with a bang and, halfway through the session, it still earns about 9%. Little move Twenty First Century Fox, which has asked the European antitrust authorities to approve the 14,4 billion dollar offer to acquire Sky.
The euro-dollar exchange rate rises to 1,054 (+0,39%). Brent recovers one point, +1%, 55,63 dollars a barrel. Gold still down: -0,85%, 1224.15 dollars an ounce.
In Milan it is above all the financial sector that is giving an upward push. Among the banks, the big shine, Unicredit +3,7% (fifth lift in a row) e Understanding +2,01%. Both closed a spring week, in which gains reached 14,54% and 12,09% respectively. The most popular title today is Ubi, +4,93%, closely followed by Bper, +4,05%, after the purchase of Cariferrara for one euro and the correction of the target price by Kepler from 5,7 euro to 6,1 euro. Sitting bullish for Mediobanca +2,8%, Banco Bpm 2,04%, Finecobank +2,33%. Insurance companies did well with Unipol +2,39% and Generali +1,75%. The latter is allegedly preparing a plan for the disposal of its assets in countries deemed non-strategic, starting with Holland. Sales hit Tenaris -1,02%, partially Ynap, -0,63%, after yesterday's rally. Slightly declining Brembo, -0,3%, which closed the fourth quarter of 2016 with revenues up by 7,9% but slightly lower than consensus, while operating margins and net income were above expectations.
FCA flat, Ferrari weak -0,56%, while, apparently, Sergio Marchionne will remain at the Prancing Horse at least until 2021, after the expected exit from FCA. This is what can be deduced from the 2016 financial statements and from the incentive plan for the CEO and other managers of the company.
