The rise in European price lists has faded, poised while awaiting news from the ongoing confrontation in Beijing on duties between China and the USA. The exception is Milan, +0,20%, above 18.750 points. The other markets are weighed down by the new drop in the sentiment index, the Sentix, down for the fifth month in a row, to a four-year low: sentiment is weighed down by fears of a possible no-deal Brexit and by the consequences of the protests “Jaunes vest”. Frankfurt and Paris retreat by about half a point. London -0,9%. Madrid -0,15%.
Contrast the indications coming from the German economy. In November, retail sales rose by 1,4% month on month, better than the +0,3% estimated by economists. In the same month, industrial orders fell by 1% (expected -0,4%). Eurozone retail sales in November rose more than expected. Eurostat has in fact estimated growth of 0,6% on a monthly basis, against forecasts of +0,1%.
The spread tends to rise again, but remains just below the threshold of 270 basis points. Tonight, with the market closed, the Treasury will announce the characteristics of the 12-month Bot auction scheduled for Thursday. with which the mid-month offer kicks off.
Brent oil marks a 3-week high: 58,8 dollars a barrel, +3%. At these prices, Goldman Sachs recommends buying: the average price of North Sea crude estimated by the broker in the report released yesterday is 62,5 dollars a barrel. Eni -0,1%. This morning RBC lowered its target to 16,50 euros from 18 euros, confirming the Sector Perform opinion. Saipem+ 1%. Tenaris + 0,5%.
Enel +0,1%, has started the construction of a large wind farm in the United States, a 450 MW plant, the most important of the group. Banca Akros confirmed the Accumulate rating and the target price of 5,75 euro on the stock,
Also prominently featured Falck Renewables (+2,2%). Banca Akros raised the company's target price from 2,6 to 2,9 euro and confirmed the Accumulate, i.e. interesting, rating.
Positive Week Debut for Banks: Unicredit + 0,9% Intesa Sanpaolo +1,04%. In managed they advance Banca Mediolanum (+ 2%) and Azimuth (+ 1,5%).
In the financial portfolio of Mediobanca Securities, the choice falls on Intesa, thanks to the expectation of a rich coupon. Better stay short Bpm Bank (+0,3%): analysts do not see catalysts for the stock and do not expect a dividend on the 2018 financial statements.
Generali -0,1%. Deutsche Bank cut its target price to 15,8 euros
Stop on the price list Pirelli (-2%), worst blue chip of the day (-26% in one year). JP Morgan cut the judgment on the title to neutral from overweight with a target of 7 euros from the previous 8,8 euros. According to the broker, the auto sector will remain depressed in the first half of 2019 and should regain confidence in the second half of the year. Fiat Chrysler + 0,2%. Ferrari + 0,5%.
In recovery instead stm (+2,5%) crushed last week by Apple's profit warning.
Shine in luxury Moncler (+ 2,3%).
Worth noting is the good streak of debutantes in the main basket. The rise of the title continues Juventus (+2,45%). Earn new positions as well Amplifon (+ 3,19%).
