Luxury shines on the catwalks of European price lists illuminated by accounts of Lvmh, so launched that it was able to overcome the problems of the Yellow Vests that paralyzed the Parisian streets of luxury for 11 weekends in a row. For the rest, the Stock Exchanges, little moved, await the messages from the Fed arriving tonight, with European markets closed. Milan advances by 0,19% to 19.739 points. Paris is doing better +0,6% under the impetus of Louis Vuitton +6,2% after the publication of the accounts (revenues +18%, profits 6,6 billion). Weak are Frankfurt -0,2% and Madrid -0,3%.
Strong growth in London +1,48%. British Prime Minister Theresa May has let her top ministers know that to win Parliament's support for her Brexit deal, that compromise will need to be revised. But the European Union has so far ruled out the possibility of reopening the agreement that May would like to re-discuss. The purpose would be to obtain changes regarding the so-called “backstop”, necessary to avoid the return of a hard border on the border between Ireland and Northern Ireland.
US futures anticipate an upward start of about half a point in American stock markets, supported by the jump of Apple Lossless Audio CODEC (ALAC), +6% in the premarket.
The bond market boom continues. The Treasury had no difficulty this morning a place eight billion euro of Btp, the maximum offer, represented by 5,5 billion euro of five- and ten-year BTPs, the rest in Ccteu. The target of the auction was 6,5 – 8 billion euros. The 5-year segment is in particular demand. the yield on ten-year BTPs is at its lowest since July, at 2,62%. With this operation by the Treasury, a very strong month ends in terms of demand for government bonds in the euro area.
Brent oil trades at 61,8 dollars a barrel, +0,7%.
All the luxury stocks are on the rise: in Paris Richemont + 1,6% Hermes + 2,70%. Kering + 4%.
In Milan Moncler jumps 5,4% ahead of Aeffe +4,3%. It also runs Geox (which is not luxury in the strict sense) +3% thanks to the promotion of Kepler Chevreux promoted by hold as a veteran. Well too cucinelli +3,5% and Ferragamo +1,9% despite revenues lower than consensus. Kepler Cheuvreux (“reduce”) cut the target price (to 17 from 18,5 euros. Berenberg (“hold”) points out that we are in the “fourth year in a row of declining homogeneous sales” and cut the target price to 16 from 18 euros.
Big maneuvers up Leonardo -0,6% and Fincantieri +1,8% despite the premier denying that the government intends to favor the merger between the two companies, both state-controlled. Retrieve
stmicroelectronics +1,8% following the results of Advanced Micro Devices: The stock of the US chip maker gains 9% in the pre-exchange.
The banks moved little: B for Bank -0,03%, it will rise to 57% of Arca Sgr by the end of February, acquiring a part of the shares of Veneto Banca and Banca Popolare di Vicenza. Unicredit -0,5%.
All about the automotive companies, after the go-ahead in China for incentives for the auto sector. Ferrari + 1%. Pirelli + 1,7%. Brembo + 1% Fiat Chrysler +1,5%. New descent for the Juventus -5,3% on the second sharp decline. Terna -0,2% slips from an all-time high.
Astaldi +7% pending dethe board of directors and offers.
