Piazza Affari is the queen of Europe, +1,71%, 18.914 points, in a day that started to come to the rescue right from the start and the main basket dragged upwards by the Banca Intesa rally, +5,49%, after the farewell to the Generali file (-3,12%). However, the most effervescent stock is Banco Bpm: +6,11%. Bonds are also positive: the spread of the Italian 194.10-year bond against the German bund drops to 2,32 points (-2,15%), yield 10%, while the Treasury fills up, placing 7 billion medium-term government bonds and long term. This is 1 billion five-year and ten-year BTPs, with the five-year rate returning above 2015% for the first time since June 2022. The average yield on BTPs maturing in April 1,11 rises to 0,92% from 2027% previous. The rates for the two ten-year periods June 2026 and June 2,28 are equal to 2,37% (from 2,05%) and 1,77% (from 3%). Also sold 2024 billion CctEu February 2022 and December 0,79 at 0,53% and XNUMX% respectively.
The other European markets were weaker: London +0,13%; Frankfurt +0,16%; Madrid +0,17%; flat Paris. Wall Street starts with little movement, then the price lists move above parity for a few hours, thanks to the comments of Donald Trump: the US president, who will speak to Congress tomorrow, promises a "historic increase" in defense spending, an increase from 54 billion dollars. In the wake of the news Dow Jones and S&P 500 reach new intraday records, but uncertainty then takes over again, waiting for what the tycoon will say tomorrow about the tax reform. Warren Buffett, however, reassures: "We are not in bubble territory". Right now, shares, says the Oracle of Omaha, are preferable to US government bonds.
The euro is back above 1,061 against the dollar (+0,53%). Among raw materials, oil purchases resumed, Brent +0,55%, at 56,62 dollars a barrel. Gold rose, +0,53%, to a three-and-a-half-month high at 1.263,32 dollars an ounce.
The Ftse Mib is also in great shape today, with the market rewarding Intesa for abandoning the hunt for the Trieste lion. In Generali, which loses appeal and slips to -3,12%, worst blue chip of the day, while its main shareholder, Mediobanca, after a negative start manages to gnaw on a fractional increase +0,74%. The banking sector is also on the shields with Banco Bpm, +6,11%, best stock, thanks to the fact that it exceeded the capital requirements set by the ECB. Rain of purchases on Bper +4,35%, Ubi +3,53%. Tonica Unicredit: +2,47%, which concluded the offer of option rights on the Stock Exchange early. Among the insurance companies, Unipol +3,82% and Unipolsai +2,6% shine.
For the fashion sector, great recovery of Yoox +3,95%, Ferragamo did well +1,32%. Leonardo still stands out among the industrialists +4,9%, supported by the 2016 preliminary accounts and the 2017-2021 business plan. Well purchased Fiat +2,66%, with Mediobanca analysts who have promoted the stock to "outpeform" with a target price of 14 euros compared to the 10,42 euros of the current prices. In Exor's wake +4,08%. Effervescent Buzzi +3,17%, Stm +2,4%, Cnh +1,85%, Brembo +2,31%.
Tenaris stands out among energy +1,55%, fractional recovery of Saipem +0,14%, positive Eni +0,42%. The utilities are progressing, including A2A (+2,51%), especially after the accounts; according to the preliminary data for 2016, the gross operating margin (Ebitda) is more than 1,22 billion euros, more than 16% more than the previous year (1,05 billion euros in 2015).
Mediaset also gained almost a percentage point (+0,96%), while Silvio Berlusconi met Confalonieri and his lawyers at Villa San Martino. At least two hot topics on the table: Milan and the open game with Vivendi.
