At the end of the morning Business Square, after a difficult start, rises to the top of the European Stock Exchanges. The Ftse Mib index rose by 0,40%, around 21.800. The other lists of the Old Continent, in the wake of Wall Street and Asia, remain in red instead: Paris e Frankfurt -0,2% Madrid -0,4%. They do worse and squares outside the euro: Zurich -0,7% London -0,6%.
Above all, he thinks about dragging the Italian stock market upwards Fiat Chrysler (+5%) promoted by Barclays to Oveweight from Equal Weight, target price rising from 13 to 18 euros. "We appreciate both the strategic options and the operational history of Fiat Chrysler", explained the analysts, according to which "with about 18 months still in the lead, Sergio Marchionne has a number of options to secure the championship for both the driver and the team , to use a Formula 1 comparison”.
FCA for Barclays is the only "story with a real momentum of earnings and full of catalysts in terms of strategic options in the sector". In the Agnelli stable they also go up Exor (+ 1,7%) and Ferrari (+1,2%). The Auto index (+1,7%) is the only one in Europe showing positive ground. Pushing the index up is Daimler (+3%), after Goldman Sachs raised its rating to "buy".
It also holds court Mediaset (+2,16%). Bloomberg anticipates that one of the options that Vivendi is considering would be to involve the house of the Biscione as a third partner in the joint venture between Canal+ and Tim announced a few weeks ago. The Cologno Monzese group would obtain a stake in the joint venture against the contribution of Premium.
The French company would sell its stake in the network controlled by Fininvest. Telecom Italy +0,3%. The declarations of the head of the technical secretariat of the Ministry of Economy, Fabrizio Pagani, contribute to the increase in Piazza Affari, who says he is personally convinced that in 2017 the growth of the Italian GDP could exceed 1,5%. Pagani spoke in Milan at the Italian equity week organized by Borsa Italiana. "This is not the ministry's official position but my personal conviction," he specified. Government sources confirm that the Ministry of Economy sees 2017 GDP accelerating to +1,4/+1,5% compared to +1,1% in April. Dollar down against the euro to 1,194, from 1,191 at yesterday's close.
Oil consolidates the gains achieved yesterday with a substantial rise: Brent at 53,4 dollars a barrel (+0,1%), yesterday it gained 2%. Oil stocks are up Saipem (+ 2,6%), Tenaris (+1,4%) ed Eni (+ 0,3%). Saras (+2,6%) continues to enjoy a favorable scenario for refiners.
Also the yields of the government bonds. 0,34-year Bund +10%, 2,0-year Btp XNUMX%.
The banks have reversed course and are now marking cautious increases in anticipation of tomorrow's ECB meeting which could provide indications on Qe: Understanding + 0,1% Unicredit + 0,4%. Generali falls by 0,2%, Unipol -0,5%.
in luxury, Ferragamo -1,4% Moncler -0,7%. The mid/small caps segment is lively: Sogefi +7%, Trevi +4%. They also go up Emak (+2,5%) and Digital Bros (+ 2%). Saes + 3% Isagro +2% after results in profit.
