Share

The manufacture gives courage to the bags

After an uncertain start, the European markets regain momentum with the PMI manufacturing indices - Snam and Terna leap in Milan, driven by the new remuneration scheme proposed by the Authority - Telecom Italia remains in the spotlight awaiting new moves from Vivendi - In recovery the banks, but not Ubi and Banco Popolare – Bene Finmeccanica

The manufacture gives courage to the bags

After a weak start, the European stock exchanges are on the rise in the middle of the day: Milan +0,5%, Frankfurt +0,9%, Paris +0,4% and Madrid +0,6%. Bad instead London (-0,4%), which pays for the weakness of HSBC after the quarterly accounts.

The publication during the morning had a positive effect on the positive trend of the lists of the European PMI manufacturing indices elaborated by Markit, which seem to endorse the hypothesis of a strengthening of quantitative easing by the ECB. 

On the foreign exchange front, the euro it is worth 1,1013 dollars and 132,85 yen, while the dollar-yen stands at 120,6. 

Il Petroleum (wti) dropped 0,78% at 45,81 dollars a barrel. Btp-Bund Spread up slightly to 106 basis points.

Bankers recover on the Ftse Mib, with the exception of Ubi (-1,25%) And Banco Popolare, down sharply (-4%) after the negative opinion of Exane, which cut the target price by 14% to 13 euros.

Finmeccanica (+1,2%) celebrates the closing in the pipeline for the sale of Ansaldo Breda Ansaldo Sts (-0,3%). 

Still in the spotlight Telecom (+1,8%) pending any counter-moves from Vivendi later the rise of Xavier Niel to 15% of the capital

The shares of Snam (+ 4,1%) and Terna (+2,5%), following the second consultation document on the remuneration scheme for regulated activities released by the Gas and Energy Authority. Analysts now see more clarity in the rules and believe that the two companies' dividend policy is not at risk. For both volumes well above the average.

Instead, the shares slipped Eni (-0,4%), which still weighs on the disappointment for the third quarter with a loss. After last week's sprint, it's also down today Saipem (-3,2%).

Luxottica -2,3% after BofA-Merrill cut to underperform.

comments