MILAN LEADS THE RECOVERY OF EUROPEAN PRICE LISTS. GRECO EXIT RUMORS SPREAD GENERALI
Stock exchanges are increasingly "petroleum-dependent". After the violent drop in price lists caused by the drop in crude oil, the markets recovered thanks to the rebound in crude oil: Brent rose above 30 dollars (+2,4% to 31,22 dollars) as did Wti (30,10 dollars per barrel).
The Milan Stock Exchange scores an increase of 1,51%, the Ftse Mib index at 18.924 points, also stimulated by the expectation of positive news from the mission to Brussels of Minister Gian Carlo Padoan. Paris +1,07%, Frankfurt +0,9% and London +0,8% also did well.
The US stock market accelerates after the publication of consumer confidence data. The Dow Jones index rose 230 points to 16.115 points, up 1,4%. Pending the results of the Fed meeting, which began this morning, the S&P500 index gains 1% to 1895 points. Less brilliant are the technological companies, weighed down by Apple Lossless Audio CODEC (ALAC), -0,6% which will present the results after the stock exchange is closed.
Excellent performance for the Treasury at the start of month-end auctions. The Ctz marked a new all-time low at -0,118%, from -0,109% at the end of 2015 auction. Despite the increasingly negative rate, Treasury zero coupon certificates are literally snapped up, with more than double the demand (3,306 billion) compared to the offer: 1,5 billion. The 0,66-year BTP-i were placed with a gross yield of 15%, the 0,83-year BTP-i at 1,513. Tomorrow it's the turn of the six-monthly bots. The XNUMX-year yield is XNUMX%. The spread between Btp and Bund it narrows to around 105 basis points.
The sharp fall of Generali -3,01% in Piazza Affari should be noted. The thud would be connected to next release of CEO Mario Greco: the negotiations for the renewal of the contract would have been interrupted. Greco is en route to the position of number one in Zurich, and the names of the CFO Alberto Minali and the CEO of Generali Italia Philippe Donnet are circulating for his succession.
Purchases focused on the banking sector awaiting news from Brussels on the Bad Bank. The stop by the CEO of Bpm, Giuseppe Castagna, on a three-way merger with Ubi and Mps pushed the prices of the two popular companies which gained respectively 2,54% and 8,56% while penalizing the Sienese institute which closed down by 3,03%. Unicredit rebounds by 2,03%.
On the eve of the accounts, scheduled for tomorrow, Fiat Chrysler accelerates +6,13%. The parent company Exor loses 1,80%. Retrieve Cnh Industrial +2,84% after the crash on the eve. Still sales up Saipem which continues to be affected by the recapitalization effect: the stock lost 1,04% and rights 29,12%. The other oil companies recover positions: Eni + 2,11% Tenaris + 2,20%.
