The Draghi effect continues on the European stock markets, which after yesterday's rebound also start the last session of the week in positive territory. About an hour from opening Business Square gains 1,9%, while Frankfurt travels up 1,7%, Paris by 2,2% e London +1,6%. In Asia, Tokyo closed on a rally (+5,88%). Well too Shanghai (+ 1,25%), Shenzhen (+ 1,5%) and Hong Kong (+ 2,9%).
After announcing yesterday that the Governing Council of the ECB could adopt new expansionary measures in March, this morning the president of the Eurotower, Mario Draghi, reiterated at the ongoing Economic Forum in Davos that the Central Bank has "many tools at its disposal to intervene and, above all, the Governing Council has the power, the will and the determination to use them".
Yesterday Draghi also explained that the investigation into the non-performing loans of some institutions in the Eurozone, including several Italian banks, is by no means a prelude to the request for new provisions or new capital increases. The news caused bank stocks to soar, and today they continue on their upward path, albeit much more contained than yesterday.
The best stock in the Ftse Mib is yet Ps, which (after +43% yesterday) today scores a new strong increase: +11%, after however having touched +17%, testifying to the fact that volatility is still very high.
Monte "is the same as it was six months ago, indeed it has become stronger: the collapse of recent weeks is inexplicable", the president of the bank said in an interview with Il Sole 24 Ore, Massimo Tononi, specifying that the institute has "no intention" of launching new capital increases (also because "nobody asked for it"), that the preliminary budget accounts will be brought forward to 28 January, that the results for the fourth quarter of the year are positive and that 2015 looks better than 2014.
As for the merger, "we are concretely pursuing options in Italy and abroad" and at the moment "the gap between the underlying and the market value makes MPS very attractive". On non-performing loans, Tononi continues, "in 2015 we sold 2 billion Npl, we are working to accelerate times and increase sales" compared to the target of a further 3,5 billion by 2018. In this regard, Tononi appreciates the initiative of the government for a bad bank and hopes it will be "incisive".
Tod'S also did well in Milan (+5,05%, after 2015 sales results higher than expected), Mediaset (+ 3,51%), Soul Holding (+ 2,72%) and Saipem (+2,46%), which he announced today details on the capital increase of 3,5 billion euros. It also affects oil recovery (Eni + 2,2% Tenaris +2,7%.
Among other banks, Unicredit + 0,3% Understanding + 2,4% Mediobanca + 0,7% Pop Bank +1%, flat Ubi and Bpm.
Fiat + 1% Finmeccanica + 1,2% Telecom + 0,7%.
In the rest of Europe, mining and energy are driving the rise in the main price lists. In Paris, +3,8% stands out Total and +3,6% of Technip. Chemistry is good in Frankfurt and Heidelberg Cement (+3,1%). In Madrid it goes up Repsol (+ 4,6%).
On the currency market, euro traded at 1,0829 dollars (1,0878 last night) and 127,89 yen (127,99). Dollar/yen to 118,06 from 117,66.
