Fiat, Exor and Banco Bpm lead the Ftse Mib, which closes positively achieving the fifth consecutive rise. A crackling start to the year for the main Milanese price list, which today stops at +0,23%, in line with the rest of Europe: Madrid +0,29%; London +0,2%, Paris +0,19%, Frankfurt +0,12%. A Befana who distributes more toys than coal and the spread also drops: -3,10%, between the Italian ten-year and the German bund, 165.50 basis points; yield 1,97%.
Wall Street opens subdued, but regains strength in the middle of the day, with the three main price lists all in positive territory and the Dow resuming the race towards the record 20.000 points. The market takes a while to metabolise data in chiaroscuro on the job. On the one hand, the growth in employment in December was lower than expected; on the other, the increase in salaries to a maximum for 7 years. In the end, overall, a positive reading prevails and the prospect of further rate hikes strengthens. For Loretta J. Mester, president of the Cleveland Federal Reserve, full employment has practically been reached and expectations for three hikes in 2017 are "reasonable". A program already announced by the Fed last month, on the occasion of the latest increase in the cost of money, the first since December 2015. Mester also expects growth in the US economy of around or just above 2% per annum.
The dollar regains share against the euro. The single currency lost 0,4% against the greenback and traded at 1,056. Messacno weight attempts a recovery. Mexico's central bank confirmed today that it sold dollars in Asian trade, after doing the same thing yesterday in an attempt to counter the weakening Mexican currency.
Returning to Piazza Affari: Fiat Chrysler Automobiles, +6,97%, wins the crown by approaching 10 euros (9,885) per share. To inflame the stock, after the promotion to outperform, from neutral, by Mediobanca, comes that of Goldman Sachs. The ADR shares (ordinary shares listed on the NYSE) were included in Goldman's conviction buy list, which raised the Target Price to $16,5-17,5 from the current $9,9-10,6. With Fiat, Exor accelerates, +3,46%, safe for the Agnelli family. Not as tonic Ferrari, -0,53%.
Day on the shields for Bpm, +2,76%, which in the first octave of the year, since its debut, gains around 20%. In no particular order are the other financial stocks. The worst is Bper -1,49%. Understanding is also weak -0,55%.
In dust Salvatore Ferragamo +2,48% and Moncler, +1,53%. Purchases on Buzzi, +1,35%. Sales hit Saipem instead, -1,88%; Stm -1,83%; Post -1,41%. The latter pays a pledge, at least in part, to the press reports on the losses of some savers who own shares in real estate funds subscribed between 2002 and 2005, before the real estate crisis.
Luxottica falls, -0,33%, in a week to forget, where it left about 6% on the ground.
Oil on the swing; Brent +0,51%. $57,18 a barrel. The market is buoyed by news of production cuts from Saudi Arabia and Abu Dhabi, but concerns remain about other producers, particularly Iraq.
