Fiat galaxy in recovery and banks in great shape in Milan, with Ubi always on the shields, best title of the day: the stock market week closes positively, in spite of the feared Friday 13th. The Ftse Mib closes at +1,87%, 19.514 points, in pole position in Europe, ahead of Paris +1,1%, Madrid +1,05%, Frankfurt +0,86%, London +0,56% (always in the record area).
Even Wall Street changes course compared to yesterday and turns towards good weather since the opening, with the quarterly reports of Bank of America, JPMorgan Chase and Wells Fargo, in surplus in the fourth quarter and for the entire year; above estimates the results of BofA and JPMorgan, disappointing, compared to expectations, those of the San Francisco institute.
FCA, which in Piazza Affari scores an increase of 4,61%, instead loses further ground in New York (-2,3% at mid-day), after the -10% recorded yesterday. FCA's lawyers are in California today for a meeting with the Air Resource Board to discuss the details of the EPA's dispute over violations in diesel engines. Yesterday FCA number one, Sergio Marchionne, rejected the accusations, arguing that the issue, still to be clarified, would revolve around an error and not a fraud. “There is no analogy with the case of Volkswagen”. And Fiat Chrysler confirms the objectives of the plan for 2018. Exor also made a strong recovery on the Milanese list, where the Agnelli safe gained 6,73%. Well Ferrari + 2,72%.
Queen of the session, however, remains Ubi Banca, +9,59%, which is very popular among investors, also thanks to the positive assessments of some brokers, including HSBC and Banca Imi, which confirmed the buy on the shares of the Lombard institute, for effects expected from the integration of the three Good Banks. Bper moves in the slipstream, +5,99%. Ansa writes: "sources within the bank confirm, for the first time, the interest of the institution in the Cariferrara dossier, the feasibility analysis of which is in an advanced stage of definition".
Back to light Banco Bpm 5,06%. Mediobanca rally, +4,02%. Sparkling Unicredit +3,49%. The day after the approval of the maxi recapitalization of 13 billion euro, CEO Mustier would have already started meeting various foreign investors, receiving positive feedback. A three-week road show will therefore begin shortly in the main financial centers around the world.
Money on Azimut, +3,47%, on which the Fitch rating agency has started hedging with a long-term 'BBB' rating and a short-term 'F2' rating, stable outlook. Banca Mediolanum +3,64% and Intesa (+1,48%) did well which, together with Santander, would have received an offer of 2 billion for Allfunds, a fund distribution platform intended for institutional investors.
Purchases on Cnh +2,64%, Buzzi 3,35%, Stm +3,2%, Yoox +3,06%. Tranquilla Mediaset (+0,29%), which will present the 2020 plan on Wednesday in London. The Mondadori stock, on the other hand, remains effervescent: 4,99%. Euro little moved and Brent down -0,77% to 55,58 dollars a barrel. Even gold is falling back today (-0,1%) and is back below the threshold of 1200 dollars an ounce (1194.615).
The spread is unchanged. Italy's rating is expected to be reviewed this evening by Dbrs, the Canadian agency which, as the only one, keeps Italy in Serie A for now, albeit A-low.
