The bombing of Syria is already forgotten. Even the European Stock Exchanges, as well as Asia, showed little movement at the start of the week. Business Square +0,22%, registering a timid rise around 23.381 points. Flat Paris, Frankfurt +0,19%. TO Madrid +0,06% the enthusiasm for the promotion of the rating of Spain decided by Moody's on Friday evening with closed markets has already died down.
The reaction of the currency markets was also weak, characterized by limited sales on the dollar. The euro trades at 1,2363 against the US currency.
The fluctuations on the market are modest bond: the 0,539-year Bund yields 2,8524%, the US Bond trades at 1,81%. The ten-year BTP at XNUMX%.
The fever cools down Petroleum: Brent falls to 71,43 dollars a barrel (-1,6%) from last week's peaks. Today's setback does not seem to be due to the fallout from the military action against the Syrian government, but to the sharp increase in the number of drilling rigs in action in the United States: last week, active drilling rigs reached 815, the highest since March of 2015.
Down in Piazza Affari Eni -0,1% Tenaris-0,97% Saipem -1%.
The easing of tensions favors the financial securities sector, awaiting the data from the US banks (the Bank of America quarterly report will be announced before the opening). In the queue Utilities and Energetics which consolidate the robust progress of the last few weeks.
Among the banks advances Bper +0,53%. The meeting voted massively on Saturday in favor of the list of directors presented by the outgoing board. Tomorrow the new board will confirm Alessandro Vandelli as managing director. By the end of 2021, exposure to non-performing loans will fall below 10%. The new business plan will be presented in September. Ps -0,45%.
Generali - unchanged - communicated that it has closed the sale of the activities in Panama and Colombia. The consideration received for the sale was 170 million.
Catholic +0,06%. The president Paolo Bedoni spoke of possible changes to the statute, but not such as to change the nature of the cooperative.
In great evidence stm +2,4%. Equita ai expects the company to target its guidance both in terms of sales (25 million dollars, +2.214%) and gross margin (22%) during the first quarter accounts due on April 39,5, even if the currency effect will affect earnings ($272 million).
Note the setback of Moncler – 0,7%. Mediobanca Securities cut its recommendation to neutral from outperform and advises taking profit after recent gains. Since the beginning of the year, in fact, the stock has risen by more than 28% and also since the beginning of the month the trend is positive by more than 8%. “Moncler has entered a quarter of low seasonality and the company will most likely not be 'bullish' in its outlook given the greater exposure to the second half and fourth quarter,” writes analyst Chiara Rotelli in a report.
Sale Tim +0,59%. According to initial indications, 24% of the share capital will present at the shareholders' meeting on April 68, Elliott and friends should hold around 35%, ahead of Vivendi. But we have to see what the Court of Milan will decide after the appeal presented by Vivendi regarding the integration of the Agenda requested by the US Fund.
It also advances Fiat Chrysler up almost half a point. This morning Goldman Sachs strengthened its Buy rating, adjusting the target price to 31,30 euros from the previous 31 euros. According to American analysts, the potential upside is close to +64%.
sapphire -1,6%, Moody's cut Safilo's rating from 'Ba3' to 'B1'. Stable outlook. “The downgrade – explained Moody's – reflects the deterioration of Safilo's credit metrics following a very weak operating performance in 2017, partly due to an exceptional event, and in light of our expectations that fundamentals will improve only gradually over the over the next 24 months”.
