Morning flat for the Milan Stock Exchange. In the middle of the day Business Square it is sluggish as well as the European Stock Exchanges: Frankfurt, Paris and London are also traveling around parity. Leading the Ftse Mib, which travels under 19.000 points, is the title Fiat Chrysler Automobiles, which earns almost 2%, approaching 7 euros per share. The main driver of the increase is the good data on car registrations in Europe which showed a better performance of the Italian-American automaker than the entire EU market. The entire European auto sector benefited from the performance: the Stoxx Automobile index gained almost 2%. Finmeccanica and Generali also did well, with gains of more than 1% at the end of the morning.
On the other hand, the ones who suffer the most are the bank stocks, awaiting tonight's Federal Reserve press conference: the Stock Exchanges are waiting to understand from Yellen what will be the timing of the US rate hike but the prevailing opinion is that there will be no increases in the first half-year. The worst are Bpm, Banco Popolare, Mediolanum and Ubi Banca, with falls of between 1,4 and 2% just before midday. Intesa Sanpaolo -1,2% to 2,6 euros, Unicredit -0,56% below 4 euros per share. Luxottica the worst at the end of the morning: -2,44%.
Into slightly negative territory Telecom Italy (above the euro per share), on the day the two offers on the table to acquire a stake in are official Inwit, the tower company controlled by the TLC. The Cellnex/F2i consortium, which filed its binding offer on 45% of the capital, is joined by the binding offer presented by Ei Towers, a company of the Mediaset group. According to sources close to the dossier, the proposal put forward by the Cellnex/F2i consortium would involve the launch of a mandatory takeover bid on the shares held by the minorities of Inwit while the offer by Ei Towers should be for a share just under 30%. Great anticipation for the board meeting scheduled for tomorrow, convened for the approval of the budget and which will now have to evaluate the two offers.
Declining it BTP-Bund spread, which approaches 100 basis points (103 in the late morning). The dollar rises slightly against the euro: it is now worth 1.1093. The price increase continues Petroleum: today both Brent and Wti are gaining around 2%, both approaching the threshold of 40 dollars a barrel. Eni +0,76% to 13,30 euros, Enel is also in positive territory (+0,57%), Tenaris flat.
