Business Square the last session of the week also closed in green, +0,17%, 20.694 points, despite the profit-taking on the banks, the downward revision of 2018 GDP by Istat (+0,9% from +1%, down from +1,6% in 2017) and record debt at 132,1%. Above all, Made in Italy luxury wins over the Ftse Mib Moncler, +11,06%, which closed last year's accounts with profit growing by 33%. Purchases also on Italian paper: the 2,74-year yield drops slightly, XNUMX% and lo spread down 1,77% from yesterday to 254.70 basis points. Small steps, in a path that however remains bumpy: yesterday, in fact, Moody's revised its growth estimates for 2019 downwards, bringing them to 0,4%, from the 1,3% previously indicated.
The optimism fades in the afternoon, but the closing is also positive for Frankfurt + 0,75% Paris + 0,47% London +0,46%. Below parity Madrid, -0,11%. Wall Street matching part and at the moment the purchases are spread across all price lists, favored by the fact that, according to Bloomberg, the US and Chinese negotiators are working on a final agreement on duties to be signed in mid-March by presidents Donald Trump and Xi Jinping.
The first upward push for the markets came this morning from Asia, where the stock exchanges appreciated the news that the weight of Chinese companies in the MSCI indexes, a reference point for large investment funds, will quadruple by November. Furthermore, he breathed a sigh of relief with Chinese manufacturing data better than in recent days. The PMI Caixin in February was in fact in recovery, on the highs for three months. Then the day went on under a pouring rain of macro data and not all encouraging. Those coming from the euro area are contrasting: inflation slightly up to 1,5%; unemployment at 7,8%, the lowest since 2008; PMI manufacturing index at the worst levels since July 2013. In the US on the other hand, in February, the manufacturing ISM fell more than expected, although it remained well above the 50 points threshold, which separates expansion from contraction.
In this context the Petroleum, an uncertain start, went into the red: Brent -1,9%, 65,05 dollars a barrel; Wti -1,82%, $56,18. Me too'gold however it retreats and heads towards 1300 dollars, currently moving in the area of 1302,87 dollars an ounce, -0,85%. Euro-dollar always in area 1,137.
Piazza Affari is supported by a rush to buy Moncler, after the 2018 numbers. Ferragamo +1,58% in the wake. Out of the main list it stands out Ovs + 6,34%, also following the news that Tamburi Investment Partners is negotiating to acquire 17,8% of BC Partners and to become the clothing retailer's first shareholder.
Among the blue chips, they closed higher Pirelli + 2,98% Brembo + 2,07% stm +2,12. On the swing Telecom, -0,67%. CDP has decided to go up to 7,1%, while Vivendi clarifies that he is "totally against" network unbundling.
After the recent gains they retreat Ubi -2,21%; Mediobanca -2,02%; Bpm bank -1,69%; Saipem -1,95%.
