European industry continues its run and the stock exchanges of the Old Continent, comforted by the rebound of the dollar after the Fed meeting, find their way up again.
Business Square it is stronger thanks to banks and energy, but above all, to the Reds. The title Ferrari indeed turned on the turbo after the bills: +5,4%, to 101 euros, with an ebitda exceeding one billion euros, two years ahead of the IPO business plan and a dividend up to 0,70 euros. Well too Cnh (+3,9%), which announced this morning a collaboration with Microsoft, ed Exor (+3,4%). FCA (+0,9%).
In the wake of these exploits Ftse Eb it advances 1,21% over 23.800 points. It follows Madrid (+0,6%). Much more modest earnings Paris (+ 0,3%) and Frankfurtclose to parity. There GBP lengthens the January gain against the euro (+1,7%).
Il manufacturing sector Italy grew in January at the fastest pace for seven years, driven by the strong flow of orders, indicating a good start to 2018 for the third largest economy in the euro area: the PMI index elaborated by Markit/Adaci rose to 59 points, the highest level since 2011, from 57,4 in December.
The month of February opens with new massive sales on German government bonds, from the shortest to the longest timescales. The German 0,72-year government bond yield rose to +2015%, reaching its highest level since December XNUMX.
Petroleum recovering, even if US weekly inventories recorded a rise of 6,7 million barrels. Brent +0,9% at 69,50 dollars. But it was Goldman Sachs who turned the spotlight on oil: A report by the broker revised the average price of Brent upwards to 75 dollars per barrel from the previous target of 62. An increase justified by the collapse of Venezuelan production and the rigor of OPEC in respecting the limits set by the agreement with Russia.
Eni it advances by 1,7%. Goldman Sachs has raised the target price to 20 euros. The same team of analysts revised the average price of Brent oil upwards to $75 a barrel for 2018, from $62 a barrel previously. Saipem + 1,6% Tenaris + 2,6%.
Among the banks, after the signals coming from the Fed on the imminent rate hike, the plus sign prevails. Unicredit + 1,3% Where's Banca + 2% Understanding +0,5%. Among the insurance Unipol -0,5%. KeplerCheuvreux lowers the recommendation to Hold, target price at 4,6 euros.
However, the utilities are also on the rise: Enel + 0,6% Italgas + 0,7% Terna + 0,7%.
Telecom Italy +1,2%. President Arnaud De Puyfontaine confirmed yesterday that a plan to unbundle the fixed network has been presented to the Italian authorities.
This morning he released Vodafone data: the Italian businesses recorded a drop in revenues in the mobile services area, broadband did very well in the fixed line.
The general euphoria allows to Ferragamo to rebound (+2%, from the initial -3,5%). The company ended the fourth quarter of 2017 with 389 million euros in revenues, down 5% year-over-year at constant exchange rates.
stm +0,5%. Chip maker Qualcomm expects global demand for smartphones to drop, warning came last night during quarterly data presentation.
Unipol -0,5%. KeplerCheuvreux lowers the recommendation to Hold, target price at 4,6 euros.
