The Italian financial week is starting to close with a flourish, despite the setback of the industrial production in November: on an annual basis the index stops its rise at +2,2%. The other European lists are on positive ground, despite the surge of the euro above 1,21. In Milan, the Ftse Mib index +0,50%, just below around 23.500 points, raises the record from the summer of 2015. It rises, but with less panache, Frankfurt +0,26%: the recovery of the euro cushions the effect of theagreement between Angela Merkel and the social democrats for the formation of the new government. The two parties have pledged not to raise taxes and to gradually abolish the "solidarity tax" introduced after the reunification of the two Germanies in 1990 in support of the eastern states.
On positive ground too Paris +0,34% and Madrid +0,24%. Outside the euro area London +0,21%.
Towing the Italian Stock Exchange is still today the exploit of Fiat Chrysler +3,42% at noon now close to 20 euros (last price at 19,65). Year-to-date performance exceeds +32% after that 2017 closed with a progress of +78%. This morning the company announced a bonus of 2.000 dollars for each of the 60 US employees and additional investments in Michigan for a billion in the face of Donald Trump's tax reform. The tax rebate, according to Equita, could be worth more than 15% of the net profit. At this point, SIM analysts are guessing 700 million euros, a figure that the experts have not yet included in the estimates.
Anticipation is now growing for the speech that the CEO will hold on Monday at the Detroit motor show. They also go up Ferrari +0,9%, Cnh Industrial +2,5% ed Exor + 2,24%.
Il Brent it slid down 0,3% to $69. Yesterday it hit $70 for the first time since 2015.
Meanwhile, the selling pressure on eurozone bonds has eased since german bund, dropped to 0,57%. The BTP 10 years treats at 2,02%.
In the aftermath of the successful outcome of two bond placements, the Italian banking sector advanced by 0,6%, returning to the levels of October.
Unicredit +0,52%. The bank placed a bond, of the "Senior non-preferred" type, with a five-year maturity, is the first issue of its kind in Italy. These are bonds with an intermediate level of risk between subordinated and preferred.
Monte Paschi Bank +1,78%. The bank has issued a 2 million euro Tier 750 subordinated bond, with a 10-year maturity, with a possible call-up to the fifth year. The demand amounted to 750 million euros.
Intesa Sanpaolo +0,4% and Bpm bank +0,49%. Bucking Creval-2,6%.
Among the financial Generali -0,76% pays for the downgrade of Citigroup to sell despite the more favorable scenario for the insurance sector offered by the rise in market yields.
instead Cattolica Insurance, which rallied yesterday, dropped to 10,33 euros (-0,19%) pending the presentation of the new business plan on 29 January.
In luxury Salvatore Ferragamo + 2,19% Moncler unchanged.
in the rest of the list Piaggio +5,47%: in December sales in India grew by +37,3% in December to 15,3 thousand units (-6% in 2017). Sales on the domestic market grew by +23% over the same period a year ago (
Brunello Cucinelli +2,04%. Berenberg initiates coverage: Buy judgment.
In the opposite direction Astaldi -3,17%.
