Weak end of the week for the European price lists. Stalemate in US healthcare reform is helping to curb activity. Not even the excellent data coming from the PMI index on manufacturing activity can stop purchases. The index Ftse Eb it falls by 0,40%, but remains above 20 thousand. All other markets in red: the best is Frankfurt (-0,14%).
The best stock in the Stoxx50 index is Switzerland Syngenta with an increase of 1%. German Allianz loses 1,4%. Moreover, there are signs of recovery in the Eurozone.
THEactivities of the private sector of the euro area it grew to a six-year high in March: the composite PMI rose to 56,7 to serve growing demand despite rising inflation. Germany is very good. Says Williamson (Markit): “The risk that the ECB will fall behind is increasingly likely if growth continues to intensify”.
The Italian macroeconomic picture "will improve in terms of GDP and inflation", the Economy Minister said this morning, Pier Carlo Padoan.
These items are not enough to give a boost to Telecom Italy (-0,24%) despite the good financial results, slightly better than expected. The net profit of €1,8 billion is slightly higher because taxes are lower than previously disclosed. 2015 ended with a loss of 70 million. Revenues for 2016 amounted to 19.025 million euros, down by 3,5% (-694 million euros) compared to 2015.
Oils slow down despite the slight rise in Brent (+0,2% to 50,7 dollars a barrel). Eni -0,1%. Weak Enel e Snam, both -0,6%.
Fiat Chrysler (+0,1%) recovers in the aftermath of the earnings alarm from Ford. Under tone the other industrialists: StM -0,2% Prysmian -0,5%. A colorless day also for the banks: Unicredit drops by 0,5%, Understanding -0,1% Bpm bank -0,2%.
Listed Italian banks, according to Equita's calculations, participated for 51 billion euros in the latest Tltro auction, exceeding expectations. Overall exposure via Tltro rises to 164 billion with a positive effect on the net interest income of Italian banks of +2,5%. The bank that should benefit the most is Bpm bank.
Generali loses 0,3%, Unipol -0,9%. positive Poste Italiane (+ 0,6%).
To note the behavior of Piaggio, +1%. The electric version of the historic Vespa is expected to be launched in the first half of 2018. To stay at the forefront of technology, Piaggio has also launched a technological antenna in the United States. In Boston, within MIT, particularly innovative ideas and products for mobility are developed. The motorcycle and scooter group has just communicated its 2016 accounts, a year that closes with a net profit up 18,3% on 2015 to 14 million euros.
Fireworks finally on Stefanel (+20%). The clothing company has signed a framework agreement with Attestor Capital and Oxy Capital Italia for the restructuring of the debt, the strengthening of the capital and the relaunch of the company, as part of the procedure envisaged by article 182 bis of the bankruptcy law.
