Consolidation pause for European stock exchanges after yesterday's leap forward. The increases in the indexes were not enough pmi services, at the highest since April 2011, also due to the slight slowdown in the German figure due to the political crisis.
Milano he gives it 0,01% (Ftse Mib around 22.360 points). The Italian PMI rose to 54,7 (more than expected), while the Istat index which anticipates the trend of the Italian economy also increased in November, strengthening the short-term growth prospects.
Good news for Madrid +0,01%, both economically and politically. Spain's Supreme Court has lifted the order for the arrest of former Catalan governor Carles Puidgemont. All eyes are now on the upcoming December 21 snap election. Meanwhile, industrial production grew in October by 4,1% on an annual basis (better than expected at +3,7%). This is the strongest increase since August 2016. The slowdown was more marked Paris e Frankfurt, down by 0,5% and 0,4% respectively.
Unchanged London. The pound, trading at 0,883 against the euro, gave up part of yesterday's gains, held back by the postponement of the agreement on Brexit.
Modest increase for i BTP which in any case confirmed their highs for about a year. the Italian 1,70-year rate fell to 136%, the Btp/Bund spread down to 4,6 points. The Spanish Treasury placed around 6 billion of 12- and XNUMX-month bonds this morning, with slightly rising rates.
Il Brent is down by 0,2% to 62,30 dollars, the Saudi oil minister said that the June meeting, wanted by Russia, could be an opportunity to raise production. Down Eni -0,07% Tenaris -0,08%. Saipem -0.23%.
In Piazza Affari, the initial rebound of Prysmian +0,26% also thanks to the opinion of various brokers: Banca Imi raises its opinion and target price on the stock. Morgan Stanley confirms overweight and the target price goes up, for Credit Suisse it is outperform.
Operators' attention has shifted to the luxury, thanks to a report by Deutsche Bank which forecasts for 2018 a growth of the sector in the order of 5% (against 6,5% this year). The broker promoted to buy Moncler +1% (target price at 23,5 from 21,5) e Tod’s +1,4% (target at 71 euros from 70). Down Salvatore Ferragamo -0,8%. For the broker Ynap -1,15% "is structurally attractive and recent weakness has created a favorable entry point."
Under fire i technological, from the manufacturers of chips, in line with the decline in the Nasdaq. stm leaves 1,46% on the ground, the Dutch Ams -2,4% after rising by 213% this year, best European title in 2017.
It highlights Telecom Italy +1% awaiting the board of directors who today will examine the agreement for the purchase of content from Mediaset +1,8%. Network separation is also under scrutiny. Two investment banks have already been alerted on the issue of the spin-off.
In Europe, the banks, after posting the best gains in the past two months yesterday. Santander, BNP Paribas e Deutsche Bank they are down after yesterday's progress. At Piazza Affari Banco Bpm -2,3%. Finecobank -0,6% and Ubi -0,9%.
Among the utilities, in evidence A2A +1,3%. The integration scheme with some utilities in North-West Lombardy has been defined, the program was communicated yesterday evening by Acsm Como.
Enel +0,8%, RBC raises the target to 6 euros.
