Piazza Affari thanks the trust of German companies. The Ifo index, higher than expected, allowed the markets to balance the fears that emerged in Asian stocks and to open the week in balance. Despite this, after the recovery, the price lists return below parity: Paris (-0,3%) Frankfurt (-0,3%), Madrid (-0,1%). London –0,66%.
Piazza Affari holds (+0,2%). To favor the rise of the Italian price list is the race of Fiat Chrysler +2,18% under the pressure of the articles in the Financial Times and the Wall Street Journal which confirm its existence of contacts with potential partners, Psa and Hyunday.
The performance of the Ifo, better than expected (at 99,6 against a forecast of 98,7) and rising for the first time in six months, reduced fears about the arrival of a recession. The Bund rate is back above zero (0,003%), but the Btp/Bund spread is up by 250 basis points with the yield on the Italian 2,498-year bond at XNUMX%.
Euro little moved against the dollar, at 1,131. The pound weakens to 1,317 against the dollar. Eleven members of the cabinet have given Prime Minister Theresa May an ultimatum: leave immediately or set a date to leave, in exchange for their support for the agreement. Gold is still in evidence, rising to 1.317 dollars an ounce.
Brent oil is trading at $66,7 a barrel this morning, -0,4%, last week it gained more than 1%. Eni -0,6% Saipem -1,88%. Tenaris -0,8%. Analysts promote the choice of the Rocca group company to grow in the American market thanks to the acquisition of Ipsco from the Russian TMK.
It's not just FCA that pulls Piazza Affari. Campari +4,19 to 8,82 euros, it reached an opening high of 9,1 euros, a new all-time high. The push came from a report by Goldman Sachs which raised the Buy rating and the target price to 10 euros from 7,4. The merit, according to the broker, lies in the success of Aperol for which annual growth of 26% is expected until 2021. At the same time, earnings per share will also rise, between 5 and 9%. Utilities are also up. Enel +0,5% updates the maximum since 2008. Exane raises the target price to 6,1 euros. Hera +0,89% is the best in its sector. Other blue chips in the sector also achieve an absolute supremacy. Starting from Terna +0,6% on which Equita raises the target price to 5,59 euro. The same goes for Snam +0,1% and for Italgas +0,4%. On the other hand, Acea loses ground - 1,1% involved in the judicial investigations into the CEO. Banks also did well (+0,5% for the Italian sector index). Unicredit +1%.Also progress Telecom Italy +0,7% on the wave of rumors about a governance agreement. Down stm -2,27% and Mediaset -0,8%. The parent company Fininvest would be ready to dilute itself in the event of mergers.
To report Danieli + 2,68 %
