The ECB has revised its forecasts on the GDP of the Eurozone downwards, but Mario Draghi's speech today was well received by the markets which recovered after his words. "The vote impresses the markets less than it frightens politicians and journalists" he said, explaining that "the markets understand that we are in a democracy and, after an initial moment of excitement, it now seems to me that they are back in the same conditions as before the elections". Draghi, who kept the cost of money unchanged at 0,75%, then confirmed the accommodating policy, specifying that the board had talked about a rate cut.
Milan closed at +0,30% and the spread fell to 310 basis points, Paris +0,53%, London +0,18% and Frankfurt +0,26% after filing a disappointing data on orders during the morning Industry in Germany fell 1,9% in January against expectations of a 0,6% increase expected by analysts. The euro moved back above the 1,30 mark to 1,3099.
The Bull does not leave Wall Street benefiting from better-than-expected data on the employment front: jobless claims fell to their lowest levels in the last six weeks at 340 (355 expected). The Dow Jones thus broke a new intraday record of over 14.340 points, despite the slowdown due to the disappointment on the trade deficit widespread in the afternoon: in January it grew by about 17%, to 44,45 billion dollars, from the result ( revised) the previous month by $38,14 billion, above analysts' expectations, who had expected a more modest increase to $43 billion. The increase is attributable to oil imports. The Dow Jones at the close of the European stock exchanges rose by 0,30% to 14.339 points and the Nasdaq by 0,31%.
In Piazza Affari Mps, after being suspended due to excessive increases, rebounded by 7,3%, Azimut +5,72%, Mediolanum +4,58%, Atlantia +3,16%, Telecom +2,94%.
The banks are overall in contrast: Intesa -1,51%, Bpm +2,21%, Unicredit -0,41%.
At the bottom of the Ftse Mib Buzzi Unicem -3,02%, Ansaldo -2,80%, Campari -2,65% penalized by a 1,6% drop in group net profit to 156,7 million and an unchanged dividend , Autogrill -1,66%, despite the record turnover of over 6 billion. The turnover for the first two months of 2013 (+1,1%) still shows the weakness of the motorway sector.
Highlights among the midcaps Safilo +6,67% thanks to the growth of sales and profit in the fourth quarter. On the other hand, Geox collapses on the 2012 results (-7,47%) which experiences declining revenues and profits and sees a prudent 2013.
