Business Square it held its course and closed down "only" by 0,84%, 22.463 points, recovering in the final, after losing more than a point and a half in the afternoon with broadsides from the president of the EU commission, Jean Claude Juncker. Contrasted with the other price lists, London -0,4% Frankfurt -0,07% Paris + 0,13% Madrid +0,54%, while Wall Street the charge of the recovery sounds, after yesterday's reverse finale. Comeback the Petroleum, Brent 66,27 dollars a barrel, +1,3%, with US weekly inventories better than expected.
Particularly penalizing the Milanese price list are, at three quarters of the session, Juncker's words, according to which with the political elections of 4 March "we must prepare ourselves for the worst scenario, that is, a non-operative government in Italy". A low blow, parried as best as possible by Paolo Gentiloni, "I will reassure him, the governments are all operational, the governments govern", but not enough to save the Ftse Mib from the black jersey. The effects can also be seen on the spread between the 10-year Btp and the Bund which widens, reaching 136.70 points, +2,86%, with a yield of 2,08%.
During the day, many other elements also helped to guide the mood of the markets, including a series of macro data, the minutes of the last meetings of the Fed and the ECB, some quarterly. On the macro front, the Ifo index on German business confidence disappoints expectations in February; so does the second preliminary reading on British GDP; on the contrary, the turnover of Italian industry was strong in December, reaching record levels since 2008. As regards central banks, the Fed seems more reassuring than feared, therefore intending to raise rates gradually and the ECB it does not show signs of tears, although it could decide to adjust the message on quantitative easing in the first part of 2018. According to Frankfurt, the volatility of the euro-dollar exchange rate should be monitored as a source of uncertainty. The single currency today rose slightly against the greenback and the cross reached 1,231.
In Piazza Affari, money rewards utilities: A2a, +3,29%, which benefits from the "buy" promotion by Kepler Cheuvreyux; Italgas +1,76%; Snam +1,06%. dusting, Tenaris, +3,1%, in the wake of the excellent results. Well Ferragamo +1,01%. Sales penalize Unipol -3,45%; Leonardo -3,27%; Exor -2,75%; Buzzi -2,21%; Ferrari -2,09%.
