European stocks are up after that the growth of the Chinese economy, for the first time in seven years, accelerated in 2017, belying expectations: the country's GDP grew by 6,8% in the fourth quarter of 2017, above consensus expectations (+6,7%). The expansion, for the full year, was 6,9%, accelerating from +6,7% in 2016.
In Milan the index Ftse Eb (+0,14%) is in slight progress above 23.540 points. More robust growth in Frankfurt (+0,3%) and Paris (+0,2%).
In red Madrid (-0,2%). The new president of is the independentist Roger Torrent, who described the situation in the region as anomalous due to the commissioner imposed by Madrid and the "unjustified" detention or exile of eight secessionist deputies. He asked that "politics return to the center" during the new legislature. London -0,3%. Tensions on the Brexit front are growing.
Of note in the price lists of the Old Continent is the leap of Switzerland Geberit (+5%) after reporting a 3,5% increase in sales in 2017.
In France, Carrefour (+2%) leads the Cac 40 upwards thanks to better-than-expected sales in the fourth quarter.
A LondonWhitbread gained 2,3% despite challenging market conditions after a source told Reuters that Britain's biggest hotel operator is considering splitting its Costa Coffee chain.
Il dollar it weakens to 1,221 on the dollar. The macro picture registers new selling pressures on bonds. The yield of Treasury the ten-year hits the highest since March at 2,60%, the two-year has broken through the 2% threshold.
In the Eurozone, the yield of Waist German ten-year bond rose to 0,58% from 0,55%, Btp to 2,02% from 1,97%. France and Spain this morning placed medium-long term bonds for a total amount of 12,1 billion.
"Italy's great challenge is to reduce its debt, a 3% deficit/GDP is not a desirable goal if we want to boost economic growth". This was reiterated by the commissioner for economic affairs, Pierre Moscovici.
Within a few weeks, writes Reuters, representatives of the euro area are called to identify a new one vice-president of the ECB, kicking off a two-year period of changes at the top of the central institute among which the succession of the president Mario Draghi stands out. The first to leave the Frankfurt office will be, in May, Vice President Victor Constancio followed, next year, by the president of the Supervisory Board of the SSM Daniele Nouy, by the Chief Economist Peter Praet, from the same Draghi and from French Benoit Coeure. The finance ministers will start the process to choose the new vice-president next Monday while the decision could come in February.
Petroleum just below the highs since 2014 at around $70 a barrel. Energy stocks rose in Piazza Affari in the wake of Kepler Chevreux's judgments. Eni (+0,7%) strengthened on the rise to 14,93 euros after the broker raised the judgment to Buy, bringing the target price to 16 euros from 14,50 euros. Saipem (+0,9%): Hold judgment reaffirmed, target price at 4,0 euro from 3,60.
Cooperative banks are weak after yesterday's meeting between the top management of European banking supervision and the main Italian banks. Danièle Nouy, the president of the supervisory entity, does not intend to give discounts on the issue of non-performing loans: on the disposal of Npl the banks they have to make the best effort.
Where's Banca retreats 1,9%, B for Bank -1,9%. Bpm bank -1,7%. Il Sole24Ore wrote this morning that the Bank could speed up the process of transferring the custodian bank. The sale could generate a capital gain of approximately 150 million euros.
Meanwhile Understanding, up by 0,2%, pushes back to the highs of the last two years. Unicredit also rises +0,5%.
In great evidence stm (+1,7%) driven by the Philadephia Sox index which represents the main companies in the chip industry, yesterday rising by 2,9% to 1.364 points, a level never seen in history. The same dynamism for the European high-tech sector. In Frankfurt, the chip maker Infineon (+3,4%) drags the Dax after a rating upgrade by Goldman Sachs.
In the rest of the list, Campari -2,5%. Deutsche Bank cut the recommendation to hold. Telecom Italy -0,7%. Today the company meets the trade unions: the plan to reduce personnel by one fifth is discussed. Yesterday the board of directors restarted the procedures for the creation of the joint venture with Vivendi.
Utilities are weak after Ubs' judgment: yes Snam (-1,3%) that Terna (-1,2%) are "sell" from "neutral".
In luxury it goes up Moncler (+1%), promoted by Rbc, goes down Ferragamo (-1%), rejected by JPMorgan. Continue the march of Fila (+2,2%) to all-time highs.
