THEfar from obvious understanding on duties between Donald Trump and the president of the EU Jean-Claude Juncker has given wings to the European stock exchanges, offsetting the effect of the landslide of Facebook (-24% after the American Stock Exchange) after the warning on profits, which are expected to decrease in the coming years due to the impact of privacy measures. In the meantime, the focus of the markets has shifted to Mario Draghi's afternoon press conference.
In Piazza Affari (+0,85%) the index rebounds around 21.800. Same gain for Paris and Madrid. More tonic Frankfurt, the most sensitive to the fate of the automotive industry.
THEeuro trading in a three-day high on the back of an easing of tensions between the EU and the US on the trade front
spread unchanged at 235 points pending ECB decisions. The 2,70-year yield rises to 1,25%. The Treasury today assigned 2028 billion of the 1,55-year inflation-linked BTP May 1,28 at a yield of 2020% (against 0,40% previously) in addition to the March Ctz XNUMX. The yield on the German Bund is back above XNUMX%.
Meanwhile, tensions on the oil front are rising. Brent rose by 75 cents to 74,67 dollars a barrel, Wti to 69,54 dollars a barrel after Saudi Arabia stopped supplies through a strategic Bab al Mandeb strait, which connects the Red Sea with the Gulf of Aden, while US inventories fell to a three-and-a-half-year low. In 2016, about 4,8 million barrels of crude oil and refined products passed through this route per day, destined for Europe, the United States and Asia.
Saipem (+4,1%) reached a 12-month high thanks to the news of new contracts for 800 million dollars and the promotion of Equita. Instead, the broker cut Tenaris (-1,26%) to hold. Eni +0,30% on the eve of the board of directors' accounts.
The automotive sector shines on the European lists (Stoxx +2,3%). In Frankfurt, BMW climbs 3%, Daimler +2,4%, leads the race Volkswagen (+3,5%). In Piazza Affari the rebound of Fiat Chrysler (+4%) after yesterday's collapse. Ferrari + 1,2%.
Trump announced yesterday evening that he had reached an agreement with Juncker to "work together towards the goal of zero tariffs, zero trade barriers and zero subsidies on industrial goods other than cars".
In particular, the tariffs on steel and aluminum imposed at the beginning of the year will be reviewed. In exchange, the European Union undertakes to buy more soybeans (to compensate for the losses caused by the simultaneous trade war unleashed with China) and more American liquefied natural gas.
It also bounces stm (+2,1%) after the landslide (-8,8%) after the accounts, albeit positive for the quarter.
Still consensus for Telecom (+1%) after the comforting indications of CEO Amos Genish. Mediaset+1,2%. Yesterday with the Stock Exchange closed, the subsidiary Mediaset Espana closed the first half with falling revenues, margins and profit.
Banks well set up. Ubi+ 1,7% Understanding + 0,3% Unicredit + 1,1%.
In the luxury sales rain up Moncler (-6,8%). Jefferies raises the target to 40 euros after the quarterly: excellent results, but already discounted according to some analysts.
Sale Luxottica (+3%). Chinese antitrust authorities have given the green light to the merger between Essilor and Luxottica. The news, which came from Beijing, was reported by the president and CEO of Essilor, Hubert Sagnieres during the conference call with analysts on the French group's half-yearly accounts. China has also set conditions to the green light. The two companies are now awaiting the last necessary approval, that of the Turkish anti-trust authority.
