European stock exchanges on a roller coaster, at the mercy of indications from the USA. The price lists fell after the negative data on durable orders, and then recovered on the basis of consumer confidence numbers. After the release of the first US data, the price lists canceled the mid-day increases. The Ftse/Mib index recorded losses of around 0,49%. London (-0,18%) and Paris (-0,14%) were also weak. Then the rebound linked to US confidence. Milan erased its losses and gained 0,23%, to 16.345. London, Paris and Frankfurt all rose by 0,2%.
IThe good consumer confidence reading on Wall Street erased the effect of the morning's disappointing macro data. The S&P500 gains 0,17%, the Dow Jones climbs 0,11%. The Nasdaq gains 0,6%.
In detail: gDurable goods orders in January fell by 4%, much worse than forecasts. Net of transport, the drop is 3,2%, against a stable expectation. The data is the worst in the last three years. House prices also fell in the top 20 US cities, down 4% in December compared to a year ago, worse than the estimated 3,65%. Instead, consumer confidence jumped more than expected, to 70,8, when economists expected it to be 63.
In the business square Understanding down 1,3%, Unicredit 0,35% salt, Ubi + 1,37% Banco Popolare unchanged. They hold well MontePaschi + 1,5% PopMilan + 0,8%.
The black jersey of the blue chips belongs to Mediaset (-2,15.%). Also declining Finmeccanica (-1,81%). The star of the day, on the contrary, was StM, which gained 7% after the announcement that the NovaThor platform produced by the joint-venture St-Ericsson (50% StM) was chosen by Samsung for its new Galaxy mobile phone.
FonSai the session continued downwards (-1,97%), flanked by Unipol (-1,60%), which appears ever closer to saving the Ligresti group. Deep red for Premafin (-12,42%), already protagonist of a series of freezes due to excessive downwards. In balance Fiat (+ 0,01%) a Piazza Affari after the declarations of the managing director Sergio Marchionne, which defined possible alliances with Japanese manufacturers as “opportunity to be examined”. Suzuki, to which Fiat already supplies engines, e MazdaFord's former outpost in the Rising Sun in response to the Axis PSA-General Motors. The Lingotto stock, cautious in the morning, marks an increase of 1,43% to 4,53 euros.
"There aren't many partners left in Europe» Marchionne explained to those who asked him about possible alliances with Mazda and Suzuki. “The world is open and we can do things everywhere, now we have just returned from Russia, we are moving”.
The CEO of Fiat underlined that "approximately 20% of the production capacity of the European car industry is redundant". To solve the problem "a joint effort at the European level is needed", because it is not enough "to liberalize in Europe if we then suffer from inflexibility at the national level".
SThe auction of Italian government bonds ended successfully this morning. The Treasury has placed the maximum expected amount of 6,25 billion Btp. In particular, 2,5 billion 5-year BTPs were placed with a yield down to 4,19% from 5,39% in the previous auction, the lowest since May 2011. The bid-to-cover amounted to 1,412 . Demand boom for the new 10-year BTP: bonds worth 3,75 billion euro were placed, against requests for 5,26 billion and with a yield of 5,5%, the lowest since August and down since 6,08% at the end of January.
On the secondary, yields are stable. That of the ten-year BTP is at 5,34%, the 5-year yield sees the yield drop by 7 points, to 3,9%. The spread with the Bund narrows to 355 points.
