The session of the financial markets is proceeding sluggishly, in the aftermath of the meeting of the European Central Bank. The dominant note remains the advance of the euro: the single currency reaches a two-year high at 1,1655, now launched towards the barrier of 1,17. The fall of dollar it also reflects the institutional crisis taking place in the USA: both Jeff Sessions, the US attorney general and the special prosecutor Robert Mueller in charge of the investigation into Russiagate have rejected President Trump's protests about Russiagate to the sender.
Business Square (-0,09%) marks time around 21.400. Slight earnings for Frankfurt (+ 0,04%) and Paris (+0,09%). Also in red Madrid, where the match for control of Abertis has reignited. Outside the euro area London advances by 0,20%.
The decline in yields continues government bonds. The Italian 2,07-year rate fell to 2,12%, the lowest since the end of June, from 156% at the end of yesterday's session. The spread with the same maturity of the Bund, which yesterday closed the session at 3 bp, is tightening to 2017 basis points, the lowest since 155 January XNUMX. Tonight the Treasury will announce the modalities of the month-end Ctz and Btpei auction.
It also slows down the yield Waist German slipping to 0,51%. The strength of the euro, which gained 1,6% against the dollar in the last week, favors the appreciation of gold, which has risen to 1.247 dollars an ounce (+1,5% per week).
Il dollar weak supports the price of Petroleum: Brent at 49,5 dollars a barrel, +0,5%. On the geopolitical front, the tensions between Iran and Kuwait, both OPEC members, are causing concern. Yesterday Kuwait ordered the expulsion of the ambassador and other diplomats from Tehran, accused of ties to a terrorist cell and espionage. Operators are preparing for next Monday's meeting in St. Petersburg, where representatives of OPEC and non-OPEC producing countries will take stock of the cuts.
The decrease in the cost of money is reflected in the banking sector. Widespread sales on banks whose Italian sector index drops 0,7%, slightly worse than the European one: Unicredit -1% Intesa Sanpaolo -0,2% Bpm bank -1% B for Bank -1,5%.
He misses out Atlantia (-1,5%) after the Spanish group ACS (-5%) confirmed in Madrid that it is evaluating a competing offer on Abertis already the subject of a takeover bid by the Italian company. The market fears a bloody battle to raise offers.
On the rise instead Enel (+0,4%) which on Monday will issue a partial dividend of 9 euro cents (yield 1,8%). This morning Berenberg's analysts raised the target price on the 305 share, bringing it to around 5,75 euros from the previous 4,50. Judgment Buy confirmed. The new target price promises a potential upside of 16,7% on current prices.
A2A +0,2%. The company announced yesterday that the negotiations have been extended by two months to arrive at new mergers in Lombardy.
Telecom Italia gains 0,9% in the wake of Vodafone's results (+2,8%). The English company closed the quarter with a year-on-year increase in revenues of 2,2%. The rebound in the luxury sector continues: good Ferragamo (+ 1,5%). Moncler + 0,8%.
Stocks from the automotive sector, currently the worst in Europe (-0,7%), are in negative ground. fca -1,5% Prysmian -1,4% Brembo -1,2%. The French Valeo it dropped almost 4% after the results of the first half.
