Piazza Affari in positive ground after a red start. The Ftse Mib index marks a rise of 0,2%, in line with Paris, just below Frankfurt +0,3%. The alarm on the housing market depresses London -0,5%: in July the index on the sale of homes in the United Kingdom recorded the sharpest drop since 2008.
The macro data of the Italian economy which confirm the deflation alarm do not leave us calm: consumer prices fell by 0,2% in July, worsening from -0,1% in June. Tomorrow Istat publishes the GDP data for the second quarter (+0,8% forecast).
Meanwhile, the fall in government bond yields continues: the 1,06-year BTP is confirmed at its historic low of 116%, the spread with the German Bund drops to XNUMX basis points, on April levels.
The best stock in Milan is Campari +2%, promoted by Berenberg to Buy from Hold. The analyst who signs the note, Javier Gonzalez, has set the target price at 11,60 euros, with this forecast, he has become the analyst with the highest target price, among the 22 who follow the alcoholic beverage company with headquarters in Sesto San Giovanni.
The entire construction sector (Salini in the lead) is also growing sharply as a result of yesterday's decisions by the CIPE which has allocated substantial public resources to infrastructure and transport.
Among industrialists: Fiat Chrysler +0,2%, StM +0,8%, Leonardo +0,5%. Retraces CNH Industrial -1,5%. The indices are held back by Brent crude oil losing 1% to 43,6 dollars, yesterday it closed down by 2%. Eni loses 1,1%, Saipem -0,7%. Enel rises by 0,9%, Snam +1%.
The rise of Telecom Italia +1,3% stands out, benefiting from Morgan Stanley's decision to raise the target price to 1,05 euro from 1,0 euro. Generals +0,5%. Banks in no particular order: Unicredit +0,6%, Intesa +0,7%, MontePaschi +0,1%. Mediobanca -1,1%, Banco Popolare -2%.
