The Chinese fever subsides and the markets try to get back on their feet after the black Monday with which 2016 began. The attempt to rebound, however, runs out almost immediately. At the start of the day, Milano manages to gain 1%, but then retraces to +0,2%. It gets worse at London (+ 0,09%), Frankfurt (-0,3%) And Paris (-0,4%).
Beijing's desire to avoid new knockouts on the financial markets has however calmed the "panic selling" effect on the Chinese market, reducing the initial -3% Shanghai (which closed at -0,3%), and, while not avoiding the red on the other Asian stock exchanges (Shenzhen -1,86% Hong Kong -0,65% Tokyo -0,42%), contributed to a calm start to negotiations in Europe.
According to the latest rumors, the Central Bank of China would have accomplished a cash injection in the financial system for about 130 billion yuan (20 billion dollars) through short-term loans to support the local currency (now the exchange rate is 6,5206 yuan to one dollar from 6,5338 yesterday).
Secondly, the commission that regulates the Chinese financial markets (the CSRC) hinted that they will be the stakes introduced in July have been extended to avoid massive sales of securities by large shareholders of listed companies.
Driving the increases on the Ftse Mib are fca (+ 3,2%) and Ferrari (+2,1%), which debuted yesterday in Piazza Affari with a gain of 0,5%, managing to save itself from the rain of sales that hit all the financial centers of Europe (-3,2% for the Italian). Sergio Marchionne said that the Maranello company will issue a bond in the first half and is preparing for a generous dividend policy. For 2015, registrations rose to 7.700.
Today's is instead a real rebound for Fiat Chrysler, which yesterday closed down by 4,9% at 8,15 euros (a price that takes into account the spin-off of Ferrari). Last Friday it had closed at 12,92 euros. The closing price of FCA for 2015 adjusted for the spin-off is equal to 8,49 euros. Marchionne confirmed his 2018 financial goals, despite the crisis in China.
The CEO has also excluded the sale of Magneti Marelli or Comau, on which the market has speculated in recent months, and has once again cooled down the expectations of a merger with GM. “I saw Mary Barra a month ago – he revealed -, I don't think there will be other meetings”.
There are also incentives for FCA stock purchases data on registrations in Italy released yesterday by the Ministry of Transport, which revealed that Fiat Chrysler beat the market both in 2015 as a whole (+18,3% against the +15,75% recorded on average by all manufacturers) and in December (+27,1 ,18,65% against +163,9% of the market). Among the brands, the real exploit is that of Jeep (+2014% compared to XNUMX).
The redemption of the Agnelli galaxy is completed with the increases of Exor (+ 1,89%) and Cnh Industrial (+1,84%). Lively Paris Bouygues Telecom (+1,5%) after Orange confirmed the resumption of negotiations for integration. In Milan it also benefits Telecom Italy (+ 1,8%).
At the bottom of the Ftse Mib there is Saipem (-0,5%) which pays for Technip's knockout in Paris (-4%): the French oil service group discounts the recommendation cut made by Bernstein.
On the currency front, theeuro it falls back to 1,0815 dollars from 1,0833. Petroleum little moved: +0,11% to 36,8 dollars a barrel in New York, -0,1% to 37,18 dollars a barrel for Brent.
