THEBrussels attack it hits the heart of Europe and puts the stock exchanges of the Old Continent under pressure in the morning. The hardest hit stocks are clearly those related to tourism, from travel and airlines to luxury. But the fear, at least on the price lists, has not managed to spread and in the afternoon the markets manage not to lose their temper. The main markets essentially close on par: Milan on par (+0,01%), Paris +0,09%, London +0,13% and Frankfurt, with a slightly more marked momentum, +0,42%. In Germany, the Ifo index on business confidence for March was published, rising and above expectations, at 106,7 points. Wall Street also recovers in slightly positive territory after a rough start: il Dow Jones climbed 0,09% and the S&P500 rose 0,06%. On the macroeconomic front, the Richmond Fed's manufacturing index jumped to +22 points in March from -4 in February, indicating a clear recovery in activity in the area.
The macro data of the Old Continent are also positive. The Purchasing Managers Index of Markit it jumped to 53,7 above economists' estimates. “There are some signs that perhaps the stimulus from the ECB is being perceived by companies as the springboard for stronger growth in the coming months,” said Chris Williamson, chief economist at Markit.
The race towards safer shores partially manifested itself with purchases on Bunds whose yield fell to 0,21% from 0,23% yesterday. The ten-year BTP yields 1,24%, stable, with the spread on the similar German security at 104 basis points. Gold was up slightly by 0,27% to $1247,05 an ounce and the Petroleum Wti loses 0,48% to 41,32 dollars a barrel. The euro-dollar exchange rate, which initially fell below 1,12, slowed the decline to -0,31% to 1,1206.
In Piazza Affari the spotlights are always on Banco Popolare-Bpm merger. The purchases rewarded Bpm +2,97%, best stock of the Ftse Mib. Banco Popolare is also in positive territory +0,41%. From the ECB, as revealed by financial sources, the go-ahead for the wedding would have arrived: Frankfurt would have found that the two banks have aligned themselves with the requests made. The board of Banco Popolare is convened tomorrow. Among the best of the Ftse Mib also Tenaris +2,25%, Anima +1,39%, Terna +1,34% and Mediaset +1,18% awaiting the quarterly broadcast after closed exchanges.
Telecom Italy +0,48% pending the appointments after Patuano. Mediobanca Securities reaffirmed the outperform rating and the target price of 1,32 euro on the stock. Even the analysts of Banca Akros this morning confirmed the positive opinion on TI (accumulated with a target price of 1,15 euro). At the bottom of the blue chip basket are Ferragamo -3,38%, Mps -2,34%, Mediobanca -1,85%, A2A -1,69% and Stm -1,65%. Generali falls -1,26%, after the news that it will sell properties worth one billion euros in Europe.
