It's time to party or, for those who have stayed away from the stock exchanges, it's time for regrets. The world map of price lists reports double-digit increases almost everywhere compared to January. Applies to the Nasdaq (+29,1%) as well as for the index S & P 500 (+19,9%). The performance of was also largely positive Business Square (+15%) ahead of Frankfurt (+13%), even if the strength of the euro has slowed down the flight of the markets: the result of theeurostoxx 50, +7,1% in the single currency, rises to 21,6% if expressed in dollars.
Around 20% the increases of Japan, China e South Korea. Even better have done the emerging. The index Msci emerging closed the year at +32,7%, the best result since 2009, driven by Brazil (+26,6%) and the spectacular Argentine Stock Exchange (+77,6% in Merval). In the world, only 9 out of 73 Stock Exchanges have not set new records. Few lists in red: Moscow (-5,8%), on Qatar andOman, below about 14%.
Will the bull run continue next year? State Street reports that investors' risk appetite has been declining for six months, but the alarm doesn't scare for now. The Asian price lists, which look pleased at the flurry of records Copper, the most important raw material for Chinese manufacturing. Wall Street is no less intent on measuring the benefits of the tax reform for companies and on American consumption.
Europe will take care of reassuring us ECB: there is a recovery and it is destined to strengthen. The Cassandras are silent for now. But they sharpen their weapons: the race of theeuro it does not stop, despite the will of Mario Draghi. And between now and March 4 (or well beyond) the Italian electoral campaign will weigh on the spread of BTPs.
15% OF UBER FOR 9 BILLION DOLLARS TO SOFTBANK
Meanwhile, the Asian stock markets are about to close the last session of the year with a bang: a consortium led by Sofbank has purchased 15% of Uber for 9 billion dollars. Hong Kong (+0,19%) ends the year with a weak increase of 36%. Tokyo (-0,11%) under the pressure of the yen's rise.
South Korea, one of the busiest markets for the Bitcoin, has severely cracked down on cryptocurrency trading. Anonymous accounts have been banned and a tax on capital gains announced. The quotation of electronic money has fallen below 14 dollars.
APPLE APOLOGIZES BUT FINDS ON TRIAL
Markets in positive ground last night on Wall Street: Dow Jones + 0,26% S & P 500 +0,18% and Nasdaq + 0,16%.
In recovery Apple (+0,3%) which announced a discount of 50 dollars (from 79 to 29 dollars) for the replacement of the old batteries of the iPhone 6 and 7, disdaining the accusation of having deliberately slowed down the performance of the old ones models. Legal actions against "planned obsolescence" have already started in the USA, France and Israel.
Salt too Amazon (+0,3%), which has applied for a license to operate in Saudi Arabia.
ENI IN ALASKA WITH THE NEW YEAR
The prices of Petroleum remain close to the highs since 2015 thanks also to the increase in Chinese demand and the decline in US inventories: Brent trades at 66,72 dollars, WTI closes at 59,84 dollars.
At Piazza Affari Eni -1%. The company will begin drilling a new offshore well in northern Alaska next week. Saipem and Tenaris drop by 0,8%.
THE ECB SEES PINK, BUT THE NEW YEAR'S EVE RALLY IS NOT THERE
Fractional declines for European stock exchanges held back by the advance of theeuro, which rose to 1,1935 against the dollar, in one session from light trading: after a rise that lasted all year, the final rally has failed.
A Milan the Ftse Mib index dropped 0,36% at 22.121 points, after fluctuating between a minimum of 22.100 points and a maximum of 22.230 points.
The other eurozone listings are even weaker: Frankfurt closes down 0,69%, Paris scores -0,55%, Madrid -0,68%. Outside the eurozone Zurich (-0,26%). Alone London (+0,03%) closed in positive territory.
The optimism of ECB it has not infected the stock markets. The latest Frankfurt monthly bulletin confirmed the growth estimates for the 2017-20 period: +2,4% in 2017, +2,3% in 2018, 1,9% in 2019 and 1,7% in 2020. “GDP growth in real – we read – is supported by the growth of private consumption and investments, as well as by exports, which benefit from the generalized recovery at a global level”. But, it adds, “at the same time, domestic price pressures remain subdued overall and have yet to show convincing signs of a continued upward trend.” For this reason, “the Governing Council concluded that an ample degree of monetary stimulus remains necessary”.
BTPs ALREADY LOOK AT THE MARCH VOTE
I BTP they passed into negative territory in the afternoon, coinciding with the start of the process for dissolving Parliament.
In the morning, the Treasury assigned 6,914 billion euros, almost the entire amount offered (between 5 and 7 billion) in the auctions of 5- and 10-year BTPs and the April 2025 Ccteu, the first medium-long term with 2018 currency, with on the rise.
Il yield differential between Btp and Bund on the ten-year stretch it stood at 153 basis points in line with the previous closing.
Il ten-year rate the benchmark rose to 1,95% from 1,91% on the previous day in line with the worsening of the German paper.
BPM, BPER AND IFIS CLOSE WITH BEAUTY
Banks always protagonists on the Italian stock exchange: the sector index closes the session with a drop of 0,17%.
In the spotlight Ubi (+2,07%) on the wave of exceeding the minimum targets set by the ECB with the Srep procedure for capital solidity. The Cet1 Ratio is at 11,01% versus requests of 8,875%. In the wake of the news, Equita Sim raised its share recommendation from hold to buy, with a target price of 3,4 euros. Well too Bper which rises by 2,4%. Up too Unicredit (+0,4%), while it falls by 0,7% Intesa Sanpaolo.
Among the smaller banks the rise of Bank Ifis (+0,73%), which consolidates the strong gains on the eve (+6,43%). During 2017, the Bank closed 19 deals in the Npl area, achieving all the promised profit targets. Banca Akros raised its recommendation from neutral to accumulated, confirming the target price at 43 euros.
Good insurance: Generali + 0,9%. Unipol -0,3%. The dissolution of Finsoe leads Coop Alleanza 3.0 to directly hold 22,148% of the company's capital. A shareholders' agreement was signed with the other companies to which the shares previously held by Finsoe were assigned. The agreement binds 30,053% of Unipol's share capital for three years.
CARS AND UTILITIES BRAKE
End of the year in the red for the automotive sector, which is affected by the drop in the dollar. Fiat Chrysler dropped 1,68% on press reports that it recalled more than 19.500 vehicles imported into China due to potentially defective airbags supplied by Takata. Also in red Classic Ferrari for sale (-0,78%) And Cnh (-0,88%).
Utilities are also slowing down. Weak A2A (-0,1%). The municipality of Milan is evaluating a sale of a stake held in the multi-utility.
Enel -0,95%. The group has obtained the green light to start the E-Via Flex-E project for electric mobility in Europe. The project, which has an overall budget co-financed by the European Commission of 6,9 million euros, involves the installation of 14 ultra-fast charging stations in 14 European sites, 8 of which in Italy.
D'AMICO SELLS A SHIP, LANDI RENZO THE BEIJING OFFICE
D'Amico International (-1,5%) reached an agreement for the sale of the vessel MT High Freedom which will be subject to a lease back from D'Amico. The deal, net of fees and debt repayments, will generate cash of $13,4 million.
Ansaldo Sts +0,3%: within the framework of the Verona-Padua high-speed railway project, it will carry out works for approximately 336 million euros.
Shop on Landi renzo (+1,41%) after the news of the entire payment relating to the sale of the property owned in Beijing and the gross capital gain of 3,2 million euros.
In the Aim highlighted Electra Investments (+ 6,6%).
