The Minister of Energy ofIranBijan Namdar Zanganeh called the proposal to freeze production "ridiculous". The Petroleum it's back to suffering: at the end of Europe, the WTI loses more than 4% and Brent 3,46%. European stock markets behave accordingly and close down with Wall Street moving in negative territory. The Ftse MIb it lost 1,95% with the Btp-bund spread stable at 135 basis points, the Cac -1,4%, the Dax -1,64% and the Ftse 100 -1,25%.
On the macroeconomic front Germany theIfo index it fell beyond expectations to 105,7 points against the consensus which expected a drop to 106,8. He was at 107,3 in January. Meanwhile, the London Stock Exchange, the company that manages the London Stock Exchange and that of Milano, deals with a maxi fusion with the Frankfurt Stock Exchange. After six consecutive hikes, the Shanghai Stock Exchange drops 0,8%. The push due to the appointment of the head of the regulatory authority, the analogous Italian Consob, seems to have been archived.
Il Dow Jones shed 0,85% and the S&P500 1,10%. On overseas lists, Home Depot stands out, beating expectations and raising dividends. Macy's retail is also doing better than the estimates. At the macro level, in the Use the data on sales of existing homes was published, which in January was contained but better than expected: +0,4% compared to the previous month, to 5,47 million, the second best monthly figure since 2007. Economists forecast a slowdown to 5,31 million. The Case Shiller index on house prices in the 20 major US cities remained stable in December compared to the previous month and grew by 5,7% compared to the same period in 2014. However, the figure is lower than expectations of analysts who were aiming for a more sustained annual growth of 5,9%. Instead, the consumer confidence index calculated by the Conference Board is worse than expected, falling to 92,2 points in February from 97,8 in January. Analysts had expected a settlement at 97,2. The euro-dollar exchange rate is stable at 1,1025.
A Business Square the declines are led by Ferragamo -4,43% but also by the banks Banco Popolare -4,22% and Bper -3,79%. The banking sector is overall negative. Unicredit also lost 2,57%, Intesa -2,66%, Bpm -2,95% and Ubi 0,9%.
countercurrent Ps, best stock of the Ftse Mib with +1,96%. In the morning, however, the banks were supported by the Credit Suisse report entitled "Banks, tactical, non-strategic Buy" in which it is argued that the credit institutions have fallen too much, they have arrived at valuations that discount a very heavy worsening of the macro scenario. “Prices incorporate a 50% risk of a recession, probably too much.”
They shine atop the Ftse Mib too Saipem +1,57% and Finmeccanica +0,53% after the announcement that the company has entered into an alliance with the American Raytheon to participate together in the tender announced by the Pentagon for the advanced training system for US Air Force pilots.
Out of the main basket, Recordati loses 8,88%: yesterday evening, with the markets closed, a historical shareholder sold his entire stake equal to 3,2% of the capital.
