Zurich rebounds after the earthquake: the index rises by 3,5% (in two days it lost an abundant 15%). In Milan, the Ftse Mibsale index rose by 0,89% to 19.428 thanks to the euphoria that was unleashed in anticipation of the reform of cooperative banks. The other price lists are also on positive ground, awaiting the modalities of the Qe. Paris advanced by 0,24%, Frankfurt +0,37%, Madrid +0,55%. Outside the Eurozone, London is not moving much +0,07%: Wall Street is closed today for holidays.
Meanwhile, the spread between the BTP and the Bund is nearing its lowest level since May 2011 at 119 basis points. The Italian 1,63-year bond trades at a yield of 0,43% (unchanged) and the Bund is unchanged at XNUMX%.
The market is certain of the arrival of Quantitative Easing which should be higher than the 500 billion euro that had been talked about in recent weeks.
The euro appreciates against the dollar to 1,159 from 1,156 at the close. Popolari are flying ahead of the reform that should abolish the per capita vote: Ubi +8%, Banco Popolare +8%, Pop.Milano +12%, Popolare dell'Emilia +12%, Credito Valtellinese +10%, Banca Popolare di Sondrio +6%. The other banks moved much less: Unicredit +3%, Intesa +1,3%, Mediobanca +4%.
MontePaschi is up 4%.
Brent oil loses 0,4% to 49,9 dollars a barrel. The number of active drilling rigs in the United States fell: They closed 61 units, the steepest drop, week over week, in the last 25 years. Downturn of oil stocks: Eni -0,8%, Saipem -1%, Tenaris -1,2%.
Enel drops by 0,8%. According to Crédit Suisse, the group is among the most exposed to the revision of the regulations of the Italian electricity sector. Snam is also targeted, which could reduce dividends by 13%. Among industrialists, Finmeccanica +0,5%, StM rises by 0,1%, Fiat Chrysler +0,5%.
Luxury is in effervescence: Ferragamo +1,9% after the positive declarations of the CEO Michele Norsa on the trend in the month of December. Tod's +2,8%, Luxottica +1% pending preliminary data.
