Milan fails to resist in positive territory and on the final it sinks below parity. The Ftse Mib it closed in the red by 0,91% 20.591 points but it is still the European market that limits the damage the most thanks to cooperative banks and the blue chips Enel and Autogrill (since the beginning of the year the Milan Stock Exchange has risen by 10% as the best European market). The rest of Europe leaves more than one percentage point on the ground: Paris -1,29%, London -1%, Frankfurt -1,86%, Madrid -1,19%.
Tensions in Ukraine and disappointing Chinese data weigh heavily on industrial production, investments and sales. In addition, Wall Street reversed course after a positive start. At the close of Europe, the Dow Jones dropped 0,9%, the Nasdaq 1,05%, the S&P500 0,76%. WTI oil is stable at around 98 dollars a barrel, the euro/dollar exchange rate at 1,3911. The Btp-Bunbd spread rises above 189 bps.
In the United States, applications for unemployment benefits they dropped by 9.000 units to 315, the lows of November 2013. The figure is better than the estimates of analysts who had estimated a rise to 330.000. In the United States, retail sales increased by 0,3% in February. The data is better than the estimates of economists who pointed to an increase of 0,2% after -0,6% in January (data revised down from -0,4%).
Piazza Affari was supported by the good performance of today's BTP auction with the placement of securities for 7,75 billion, the maximum expected supply, with sharply declining yields (the three-year period reached an all-time low of 1,12%), after yesterday's record low for the Bot yield . However, the Btp-bund spread closed up at 187 basis points. The EU Commissioner for the Economy, Olli Rehn, said that the announced measures on employment are "appropriate given the high unemployment of young people".
As mentioned, the popular companies shine in Piazza Affari: Bper +4,61%, Bpm +4,17%, Banco Popolare +2,15%. Autogrill also stands out +4,39% after the good results. Autogrill's board of directors will submit to the shareholders' meeting “the proposal for the purchase and subsequent possible sale” of treasury shares up to 5% of the share capital. The securities, a note explains, may be used for capital transactions or other operations for which it is necessary or advisable to proceed with the exchange or sale of share packages, but also for share incentive plans reserved for executive directors and/or employees of the company. Enel rose by 1,86%. Exane raised the target price after the 2013 data. At the bottom of the Ftse Mib Buzzi Unicem -3,17%, Unicredit -3,10%, Atlantia -2,97%, Wdf -2,9%, Gtech -2,75, XNUMX%.
