The green wave laps the European Stock Exchanges, dragged along by the banks, also thanks to the rain of money obtained in the Tltro2 auction. Milan closes at +1,07% and is well back above 20.000 points (20.167), with Ferrari, +4,35%, launched at great speed after the promotion of Citi, from neutral to buy. Spring weather also on the other markets: Frankfurt leads the pack with a rise of 1,14%, despite a drop in consumer confidence; followed by Madrid +0,93% and Paris +0,76%. London is more cautious, +0,22%, after yesterday's tragic events. Wall Street opens in no particular order, with the disappointing figure for unemployment benefits, then finds the best direction, also thanks to the sales of new homes in February, higher than expected. After a few days of uncertainty, New York's main price lists turn out to be optimistic, waiting for Donald Trump to face the vote on health care reform tonight, a test bank beyond which the epochal intervention on the tax authorities is expected.
The euro-dollar exchange rate dropped slightly, but still in the 1,078 area (-0,1%); Brent was flat, 50,6 dollars a barrel, -0,08%. Gold is losing ground, which even exceeded 1250 dollars an ounce during the day: 1244,53, (-0,22%).
On the bond front: the Italian 2,28-year yield stops at XNUMX%, the spread with the German Bund at 183.90 basis points, down 0,92%.
In its economic bulletin, the ECB, analyzing the first nine months of 2016, reports that investors outside the Eurozone have sold government bonds of EU countries, especially Italy and Germany. The central bank also confirms that growth is strengthening and price dynamics are improving, but not enough to justify a change of course in monetary policy. Confindustria observes that Italy's growth, even in the first months of 2017, "remains at a flicker", while the vice president of the EU Commission, Valdis Dombrovskis, tomorrow in Rome to discuss corrective measures and public finances, invites the country to a move on debt and low productivity: "We expect an ambitious national reform plan".
In Piazza Affari the banks remain on the crest, with the ECB allocating over a quarter of resources (about 62 billion out of 233,5 total) to Italian institutions in the last window of the second Tltro programme. On the Ftse Mib, Bper stands out +2,82%; Entente +1,6%; Banca Generali +1,33%; Ubi +3,12%. Flat Unicredit +0,07%. In recovery Azimuth +1,46%; Fineco +2,57% and Mediobanca +1,2% did well.
However, the best stock of the day is Ferrari, +4,35%, which flies to 65,90 euros per share, also bringing Exor with it +1,75%. On the opposite pole, FCA, -0,79%, in the wake of Ford's pessimistic forecasts for the first quarter of 2017.
Purchases reward Telecom +2,63%, in view of the approval of the accounts they have sanctioned the group's return to profit in 2016. A2a +2,25%; Buzzi +2,31%; Cnh +2,57%; Campari +1,59%, Stm +1,79%. In fashion, Ferragamo +1,74% and Ynap +1,92% stand out. Mediaset moved little, +0,16%. Press sources report that, according to Pier Silvio Berlusconi, the Vivendi affair will weigh on the budget for 100 million; meanwhile, the company will participate in the upcoming auctions of football rights and does not rule out doing so together with Telecom Italia.
Worst Blue Chip is Poste Italiane, -2,03%, in the completely unfounded fear that the revision of the industrial plan could have an impact on the 2017 profit and on dividends.
