The clear affirmation of the pro-European forces in the Netherlands combined with the market acceptance of the messages coming from the Fed has, as expected, given wings to the markets. Milan +1,76% and Madrid +1,6% are the best price lists: increases of less than a percentage point for Paris, Frankfurt and London. The Ftse Mib index returned to Piazza Affari above the threshold of 20 points (20.122). The Stoxx 600 index is at the highs of December 2015. Piazza Affari returns to the levels of January 2016.
Stocks from stocks lead the rise in Europe mining and commodity companies (Stoxx of the sector +4,5%). Also very good Banks (+1,2%) and Oil (+1,2%).
The Amsterdam Stock Exchange hits a nine-year high, rising 0,7%, while Frankfurt and Paris are at their highest since mid-2015. Anglo American is the best stock in the European basket after Indian billionaire and majority shareholder of Vedanta Resources Anil Agarwal said he would buy up to a £2bn stake in the mining group. The basic resources sector, supported by Anglo, rose by 3,5%.
On the day of yet another Alitalia turnaround, Lufthansa climbs more than 5% after the results, despite announcing falling profits in 2017 due to rising fuel costs.
The euro strengthens and climbs against the dollar to 1,072, from 1,060 yesterday morning.
On the government bond market, sudden swings in yields were seen during the first trading, which have now settled down. The 10-year BTP is traded at 2,31% (from 2,29% yesterday), the Bund at 0,45% (from 0,41% yesterday). The spread is unchanged at 186 basis points.
After Wednesday's sharp rally, oil recovery continues: Brent at 52,2 dollars a barrel (+0,8%, after +1,7% yesterday).
Eni up 2,6%, Saipem +2,1%, Tenaris +2,8%. Claudio Descalzi, said that ENI is not interested in large acquisitions. Descalzi added that Eni's exit from Saipem is probable, but now is not the time.
At the center of attention were the excellent Generali accounts +3,6%: 2016 closed with 2016 with a net profit of 2,08 billion (+2,5%), substantially in line with analysts' expectations. Dividend of €0,80 per share (+11%).
Great effervescence also around Unicredit +3,3%: the CEO Jean Pierre Mustier has bought shares of the bank for a value of 2 million euros. In the rest of the sector Intesa +1,9%, Banco Bpm +3,5%, Bper Banca +4%.
Car registrations in Europe mark a modest increase in February equal to 2,1%. Fiat Chrysler+1,9% recorded a 9% growth in the same period. FCA's market share rises to 7,9% from 7,4% in February 2016. Among other industrial stocks, Prysmian +2,4%, Stm +0,6%, Leonardo +0,7%.
Enel rises by 0,6%, Telecom Italia +1,5%.
It stands out among the medium caps MaireTecnimont +9%. Well Cementir +4,8%, Salini Impregilo +3,9%, Piaggio +3,6%. It collapses instead Safilo -4% after results largely below expectations.
