The confidence of the European markets is growing, driven by the positive statistics of the Eurozone. In Germany, the Ifo index for July stood at 116 points, an all-time high. The consensus of economists was expecting 114,9 points. The previous figure was 115,1.
Good news also for Italy. The seasonally adjusted industrial orders index rose 4,3% in May from -0,5% (revised from -0,7%) in April. On an annual basis, orders grew by 13,7% against -2,2% the previous month.
In Milan, the Ftse Mib index rises by around 0,9%, around 21.500. Even better Paris, with an increase of more than 1%, Frankfurt +0,6%. London +0,9%.
The dollar remains under pressure. Euro-dollar cross at 1,165, on the highs of the last two years.
Interest in peripheral government bonds continues. The Btp/Bund spread narrows to 152 basis points, the lowest level since November. 10-year BTP yield 2,05%, 0,52-year Bund yield XNUMX%.
Oil leap forward: Brent accelerates up 1,1% to $49,2 a barrel. On the sidelines of the meeting in St. Petersburg between producing countries, it emerged that Saudi Arabia is in favor of extending the agreement on the containment of mining activity beyond March 2018, moreover, Nigeria too should put a brake on production.
Eni +0,5%, Saipem -1,3% on the day of presentation of the quarterly data, overall in line with forecasts. The company cut its 2017 revenue estimates, confirmed its gross profit target
In great evidence Luxottica +2,6% after the half-year results and confirmation of the year-end objectives. Deutsche Bank highlights that results are slightly above expectations, that the price-mix has improved and that there has been a return to growth in North America. Jefferies and Morgan Stanley highlight the benefits of looking forward to the upcoming merger with Essilor.
Banks (+1,8%) and insurance companies (+1,2%) are pulling the sprint in Europe.
Generals +2%. Asset management is also highlighted. Poste Italiane and FinecoBank +2,2%. Azimuth +1,1%. Chairman Pietro Giuliani confirms that the company is not for sale: management and employees control 15%.
Among the banks Unicredit +1,7%, Ubi +1,7%, Intesa +0,7%, Mediobanca +1,5%.
Among the industrialists, on the eve of the accounts, StMicroelectronics rises +0,6%. Fiat-Chrysler -0,1%. Leonardo +2%, CNH Industrial +0,2%, Brembo +0,1%.
Continue waiting for the accounts for the quarter, the Telecom Italia run +1,2%. Yesterday the board of directors voted in favor of the early termination of the employment relationship with the CEO Flavio Cattaneo. The manager leaves with a severance pay of 25 million euros. The board also discussed an alliance with Canal +.
Finally, fashion: price paid 1,35 billion dollars (EV). The buyer pays a premium of 18% on yesterday's prices, 36% on the prices prior to the announcement of the sale.
