The negative performance of Wall Street (Dow Jones -0,9%) conditioned by the umpteenth drop in crude oil did not slow down the rise of the European Stock Exchanges, now concentrated on Thursday's appointment with the ECB. The German Zew index also rose to an 11-month high.
In Milan, the Ftse Mis index rose by 0,91% to 19651 points, also driven by expectations for the reform of cooperative banks. The other markets of the Old Continent are also on positive ground, starting with those awaiting Quantitative Easing with the most interest (and anxiety): Madrid +1,24%, Paris +1,16%. Frankfurt only +0,13%.
The echo of the negative forecasts of the Monetary Fund on the global economy, especially the European one, did not weigh. More importance was given to the declarations of Wolfgang Schaeuble: the German finance minister said that Berlin will accept any decision by the ECB. The spread between Btp and Bund has risen to 128 basis points and the yield on the Italian ten-year bond rises to 1,68%. The euro closed above $1,15 after the Nahb index on US housing market performance fell to 57 points in January, down from 58 points in December.
The run of the Popolari continued in Piazza Affari, awaiting the government decree: Banco Popolare +5,6%, Bper +7,1%, Credito Emiliano +5,1%. Instead, Bpm slows down -0,6% after Monday's boom.
The other banks were positive: Monte Paschi +3,1%, Intesa +1,3%, Unicredit +1,1%.
Eni closes in negative ground -0,5%. The company has approved the issuance of 2 billion bonds between now and the end of the year. Rating buy by Akros. Heavyweights Saipem -3,8% and Tenaris -1,9%. Among the industrial stocks good FCA +0,5%, Finmeccanica +0,8% and Pirelli +1,1%.
Finally, Luxottica closed at -0,9% after the preliminary financial results.
