North Korea detonated its first hydrogen bomb overnight, thus helping to complicate an already heated international geopolitical situation. The news weakened the stock markets in the southern hemisphere: Sydney -1,2%, Tokyo -1,1%. The Seoul index marks -1,1%. Hong Kong is also in negative territory.
The exception is China: the Shanghai Stock Exchange is up 0,6%, Shenzhen +0,7%. But the recovery of Chinese stock markets is linked to the drastic measures taken by the authorities, including the ban on the sale of shareholdings exceeding 5%. New negative news, on the other hand, comes from the economy: the services index signals modest growth, the worst in the last 17 months.
WALL STREET, SALES RAINING ON APPLE
Markets are also uncertain on Wall Street: the Dow Jones closed just above parity (+0,06%), S&P and Nasdaq +0,2%. It was above all Apple that made the attempt to rebound after the most negative start to the year since the 2,5s fail, down by 6%. On the Nikkei, the Japanese newspaper that controls the Financial Times, the news has appeared of a significant drop in orders to suppliers of the iPhone XNUMX.
The data on car sales in December was also disappointing, positive but less than expected at the end of a record year. Ford stock falls by 1,8%, GM -2,6%.
MILAN YESTERDAY THE BEST BAG. WEAK START FOR EUROPE TODAY
A negative start is announced for the European lists. Futures signal initial declines in London (-42 points), Paris (-27) and Frankfurt (-98). In Germany, controversy over immigration is raging after the rapes that characterized New Year's Eve in Cologne. Among the positive macro notes is the recovery of employment in Ireland and Spain.
Against this background, only Piazza Affari (+1,2%) achieved a recovery of more than 1% yesterday. Less marked progress for London (+0,72%), Paris (+0,34%) and Frankfurt (+0,26%). All the stock exchanges recited the same script: beginning with a fractional rise, then a slowdown in the middle of the day due to the rekindling of fears about the inflation data in the Eurozone.
The yield on the 10-year BTP dropped to 1,51%, spread down to 95 basis points.
THE MARCHIONNE SCUDERIA GOES UP. USA SCAP TO VOLKSWAGEN
Yesterday the car took care of supporting Piazza Affari. On the contrary, Volkswagen's landslide (-4,3%) paid for Frankfurt (-2016%), affected by the US decision to initiate legal action against the automotive group over the scandal of rigged emissions. In the first two sessions of 10, the stock has already accumulated a loss of more than XNUMX%.
More music in Milan. Ferrari, on the second day of listing on Piazza Affari, advances by 2%. Mediobanca confirmed the Outperform recommendation with a target price of 56 euros which promises a 25% revaluation on paper. The updated consensus collected by Bloomberg sees 10 shareholders, with a balance of 5 buy suggestions, 3 neutral and 2 sell suggestions. Average target 50 euros.
Fiat Chrysler also performed well (+2%). Credit Suisse analysts yesterday confirmed the Outperform rating by updating the target price after the spin-off of Ferrari and bringing it to 13,60 euros from the previous 18,20 euros. For Ubs, the new target is set at 9 euros from the previous 14 euros with a Neutral rating.
MONTE PASCHI UNDER FIRE AT NEW LOWS
A day of rebound for bankers, among which the almost +2% of Intesa stands out. Rises below 1% for Unicredit (+0,62%), Ubi (+0,59%) and Banco Popolare (+0,74%). The new thud with volumes by Monte Paschi catches the eye, which during the session touched new lows at 1,116 euros to close a little higher at 1,137 euros with a drop of 2,74%.
The stock pays for the low confidence of the market which, in the absence of news on the M&A front, on the one hand, and the bad bank of the Treasury on the other, moves to more attractive stocks also in terms of dividend prospects. In managed it reverses course in the final Anima (+2%). Down Azimut (-1,1%) and Banca Mediolanum (-1,7%), which recorded net inflows of 956 million in December.
BLUE CHIPS, FINMECCANICA AND POSTAL RUN
There were other positive points. Among industrialists, the performance of Finmeccanica stands out (+3,96%) boosted by the positive assessments of Banca Imi, Banca Akros and Equita Sim, which confirmed the buy rating. Yesterday the group revealed that the amount of the contract signed on 31 December with the Ministry of the Interior is equal to 450 million euros.
The performance of Poste Italiane follows among the blue chips: +3,4%, to 7,20 euros. Telecom Italia also performed well (+1,3%), supported by the possible merger in France between the telecommunications activities of Bouygues and Orange. From Brazil comes the news that Oì has asked a Chinese bank for the willingness to support an offer on Tim Brasil.
Among the other blue chips, a day of grace for utilities: Enel +2%, Snam +2,5%, Terna +1,7%, Enel Green Power +2,3%. After Monday's flare-up, oil is weakening again. In Piazza Affari Eni +0,9%, Saipem +1,5% and Tenaris +0,2%.
TAKEOVER OFFER IN THE AIR FOR PARMALAT, THE RECORDATI RALLY CONTINUES
Parmalat stands out from the main price list (+3,82%), with volumes almost six times the average of the last month. The hypothesis of a takeover bid for Lactalis and subsequent delisting of the stock is once again gaining momentum. Emmanuel Besnier, owner of Lactalis (strong of 85,60% of the capital) bought another 0,23% on the market for an equivalent value of around 10,2 million euros.
Recordati's rally also continues (+2,8%), which has pushed the quotation to a new historical record of 24,36 euros: the stock has long been appreciated by investors: it closed 2015 with a gain of 88%. fourth consecutive year on the rise.
