THE BAGS BET ON THE PUSH OF DRAGONS. MANAGEMENT FLIES, LUXURY STARTS AGAIN
The European stock exchanges interrupt the declines of the last two weeks and, waiting for the ECB, bet on anti-deflation measures. In Milan, the FtseMib index rose by 1,23%% to 19313.
On the government bond market, the 10-year BTP is traded at a yield of 3,77% (unchanged), with a stable spread at 212. The London stock exchanges are more cautious +0,71%, Paris +1,03%, Madrid 1,13%. Frankfurt does even better: +1,15% for towing cars.
Indeed, among the best sectors stands out theautomotive (European Stoxx +1,4%): Daimler rose by 2,4% after announcing higher than expected results. The car giant's net profit rose 28% to 8,72 billion euros and revenues advanced 3% to 117,98 billion euros. Sales rose 7% to 2,354 million units. Dividend up from 2,2 to 2,25 euro. bmw earn 1,4%. Fiat + 1,05%.
The Governing Council of the ECB is underway. The prevailing opinion among economists is that rates will remain unchanged, but the latest inflation data from the euro zone, still down in January at 0,7%, has once again stirred up fears of deflation. The forecast that the ECB is studying the possibility of interrupting the sterilization operations of the liquidity generated by the Smp program, through which government bonds of countries in difficulty were purchased, is gaining credit, a move that could increase liquidity by 175 billion.
The other key element of the session will arrive in the afternoon from the US: the data on new applications for unemployment benefits. The crucial data, however, will be tomorrow's data on the labor market and on the US unemployment rate, expected to remain unchanged at 6,7% in January. Going back to Piazza Affari, some financial stocks shine: the good data on January collection pushes them Azimuth + 3,7%.
In January, the group recorded total flows of 701 million euros. Total assets exceeded 24,5 billion. The company has begun to reap the first fruits of the international expansion policy. During the month, foreign businesses contributed 10% of total funding. Banking Generali + 1,37% Mediolanum + 1,51%.
It stands out among the banks Mount Paschi + 3,18% Understanding salt by 2,85%, Unicredit + 1,48% Mediobanca +2,79%. The bad bank fever is rising: Intesa and Unicredit are studying the creation of a joint venture together with the private equity firm Kkr in which to transfer 11 billion euros of doubtful loans.
In the industrial sector it is positive Finmeccanica +0,85%, the subsidiary does even better Ansaldo Sts + 2% StM advances by 1,35%. Good upside of Tod's +2,78% after promotion to Neutral from Goldman Sachs sell. In the Luxury sector, the comeback of Ferragamo +2,88, Cucinelli +3%, Yoox + 0,1% Luxottica + 0,99%.
Telecom Italy, a few hours from the board of directors, salt of 0,85%. Enel advances 1,14%, Eni + 0,85%.
