Stock exchanges advance on the eve of the meeting of the ECB which, barring improbable surprises, will extend the Eurozone bond purchase programme. TO Milano the FtseMib index rises by 1,3% and is close to 18 points. The Exchange of Paris earn 0,94%. Better Frankfurt (+ 1,5%) and London (+ 1,28%). Madrid + 0,3%.
Die Handelsblatt, the German business newspaper, launches the news that the ECB could announce the purchase of European shares on the market to save Italian banks and thus avoid a systemic crisis for the economy of the Old Continent. The article blew up the Frankfurt Stock Exchange, to the highs of 2016 at 10.900 points, thanks to the rise of Deutsche Bank: +5,5% at 11 ahead of Commerzbank (+3,3%). In Paris they advance BNP Paribas (+ 2,9%) and Société Générale (+ 2,7%).
Driving the ride is though Mount Paschi (+7,46% to 20,31 euro): in a few hours the pre-council of the Supervisory Board will meet in Frankfurt which should address, in addition to the future of the Sienese bank, that of the Italian good banks destined for Ubi. As regards the fate of the Monte, state intervention is now taken for granted, but the Treasury has denied the hypothesis of recourse to the ESM fund.
The other banks also earn: Understanding + 1,7% Unicredit + 3,8% Banco Popolare + 2,2% Mediobanca + 3,2% Banca Pop.Emilia + 5,4%.
Strong increases also for insurance companies and asset management companies: Generali + 3,9% Unipol + 1,9% Anima + 4% Fineco + 2,3% General Bank + 5%.
Il BTP the 10-year is trading at a yield of 1,90 (yesterday 1,94%), spread down to 154 (-2 basis points). The euro/dollar exchange rate is stable at 1,072.
Petroleum unchanged with Brent at $53,9 a barrel. Slightly up Eni (+0,3%) and the other oil companies: Saipem +0,7%, Tenaris +0,9%.
Industrial stocks up. Leonardo +1,9%: Bofa has raised its judgment from hold to buy, with a target price of 15,5 euros. StM + 0,8% Fiat Chrysler +2,1%. Highlights too Telecom Italy (+ 3%).
