The markets are betting on the postponement of the rise in the US rates. Meanwhile, oil is on the rise, driven by the expectation of an agreement between the producers and the failure to recover exports from Libya. Thus the conditions are ripe for a recovery, after the massive losses over the weekend. TO Milano the Ftse Mib index accelerates with a rise of 1,3%, above 16.400, in line with Paris e London (+1,44%) and ahead of Frankfurt (+0,80).
Il Petroleum Brent crude oil rose 1,2% to $46,33 a barrel. The confidence of OPEC secretary general Barkindo, the clashes in Libya and the statements of Venezuelan president Maduro have rekindled hopes of reaching an agreement between crude oil producers on 27 September in Algiers. Strong gains for oil stocks.
The yield of Waist ten-year bond has returned to zero, while that of the construction sector 10 years.
Eni rises by 2,5% (today detaches the advance on the dividend), Saipem +2,6%, Credit Suisse has started hedging with a Neutral recommendation and a target price of €0,45. Tenaris + 1,5%. Saras it is up 1,1% to 1,3650 euros.
Fiat Chrysler + 1,2% StM +1,4% (today detaches the quarterly dividend). It stands out in Piazza Affari Ferragamo: +3,3% Bank of America upgraded to Buy from Neutral. In the recent conference call, the chief financial officer Ernesto Greco stated that the consensus expectations for 2016 are achievable if there is no worsening of the scenario. Analysts expect revenues of 1,45 billion euros and 333 million Ebitda.
Moncler it is the best blue chip with a gain of 3% at 15,60 euros. The company entered the Stoxx Europe 600 index today. They exit Unipol (+ 2,3%) and Ps (-0,7%).
Also worth mentioning Ovs: +3,4%, to 5,19 euros. The Venetian retail company, in a consortium with other entities, came out into the open this morning with an offer of 56 million francs for Charles Voegele, a chain of Swiss stores that has long been in financial trouble.
Down instead Brunello Cucinelli (-1,4%): Bank of America downgraded its rating from Buy to Neutral.
Banks are recovering, hit by strong selling on Friday. Understanding + 2,9%. Unicredit rises by 2,1%. The deadline for submitting expressions of interest for Pioneer expires today. Among those interested, Poste Italiane (+1,2%).
The CEO of the bank in Piazza Gae Aulenti Jean-Pierre Mustier is oriented towards favoring offers for the entire capital (base 3 billion). Among the interested parties in the first row Poste (with Cdp and Anima) followed by Axa, Amundi, Macquarie, Franklin and Aberdeen.
As for Mount Paschi, "there are the conditions to proceed with the capital increase as quickly as possible", said Prime Minister Matteo Renzi, specifying that politics will not "govern" this step.
Mediobanca, JPMorgan and Citigroup are organizing a bridging loan for the NPL securitization vehicle, said Quaestio CEO Paolo Petrignani.
Pop Bank. Emilia +2,8%: Ubs has started hedging with a Buy recommendation. believe +1,5%: the Swiss bank has started hedging with a Neutral recommendation and a target price of €5,55. Buzzi +1%: HSBC raised the target price to 22 euros from 20 euros. Buy judgment confirmed.
