THE THUMP OF OIL COOLS THE BAGS. SPOTLIGHT ON TELECOM, LIKE FCA WITHOUT DEBT
The collapse of oil, which fell in the WTI version to a new low of 37,99 dollars, conditioned the start of the financial week. The strong downward start of Wall Street conditioned the closure of the European stock exchanges. However, the Ftse Mib index remained above parity (+0,07%). Paris +0,88% and Frankfurt +1,25% also rose. London, on the other hand, falls by -0,24%.
The euro trades at 1,0845 against the dollar. The yield of the BTP recovers to 1,558%, spread to 98 bps. At Piazza Affari Eni falls by 2,46%: Deutsche Bank has raised the target price of the six-legged dog from 15,5 to 16 euros. Saipem fell by 2,32%, Tenaris –2,22%. S&P500 index loses 0,3% under pressure from oil stocks: Exxon loses 2,3%, Chevron -3,2% Halliburton -3,1% Conoco-Phillips -2,1%.
In great evidence in Milan some blue chips: advances Telecom Italy +2,4%. JP Morgan's stake rose to 4,5%, ranking third in the shareholder register behind Vivendi and BlackRock. In eight days, Tuesday 15 December, the shareholders' meeting called to examine the request of Vivendi, the first shareholder with 20% of the capital, will be held, asking to expand the board of directors to make room for four new directors of his choice.
Also good Fiat Chrysler +1,7%: the objectives indicated by Sergio Marchionne to the analysts are appreciated, i.e. the zeroing of the debt at the end of 2018. Ferrari it gains 2% on Wall Street and moves to 49,60 dollars, moving away from the historic low reached on November 24th at 44,65 dollars. Morgan Stanley announced that it has started hedging the stock with an Overweight rating and a target price of $56, a price higher than the $52 IPO.
Conversely, the Eurostoxx index of banks recorded a drop of 0,6%. Little moved the Bigs: Understanding + 0,13% Unicredit +0,19%. back Mount Paschi -2,82%, It's even worse Banca Carige -5,16%. Up too Poste Italiane +1,27%: following the exercise of the green shoe, the Treasury limited its stake to 64,6%.
Slow down the run in the finale Yoox +0,22% reaching the ninth increase in a row and with a new historical record set at 36,78 euros, with a gain of more than 2%. The better they did Ferragamo + 2,87% Luxottica +1,85% and Moncler + 1,27%.
