Business Square progress pending ECB decisions and corporate data arriving today. The Ftse Mib index gains about half a point, again above 23.900. Up too Paris e Madrid, recovers London committed to digesting the corporate battles underway in the City (including the demerger of Costa Coffee imposed on Whitbread by the Elliott fund). +0,2% Frankfurt though Deutsche Bank, after a start in the deep red -4% (-27% since the beginning of the year), veered upwards: the institute closed the first quarter with revenues of 7 billion euros, down 5% compared to the same period of 2017, and a profit of 120 million euros, compared to 575 million in the previous year (-79%), announcing an investment banking overhaul and staff cuts.
This morning at the six-month BOT auction the 6 billion on offer was assigned at a rate of -0,421%. Good demand equal to 9,88 billion.
Oil is on the rise again, Brent rising by 0,6% to 74,4 dollars a barrel. They advance Saipem +0,1% and Tenaris + 0,8%. Eni +0,9%. While awaiting tomorrow's quarterly report, Banca Imi assigns a buy rating to the stock and a target price of 19,4 euros.
Fiat Chrysler +0,1% just a few hours after the conference call on Sergio Marchionne's results. Good ideas also for Cnh Industrial +0,6% while the holding Exor salt by 0,4%. Same intonation for Classic Ferrari for sale: according to Bloomberg, the Chinese authorities could reduce duties on the import of luxury cars.
Just above parity Enel +0,2%. The Italian group has improved its offer to purchase the Brazilian group Electropaulo from 28 to 32 Brazilian reais per share for a total of 1,3 billion euros. Neonergia, controlled by the Spanish Iberdrola, he responded immediately by putting in the pot 32,10 Brazilian reais per share compared to the previous 29,40 reais. The deadline for relaunching is set for May 18th.
Vola Mediaset +3,7%. Analysts' opinions in no particular order, Mediobanca says to buy: Outperform, target €4,34. Equita says to hold: Hold, target 3,90 euros. JPMorgan says to sell: Underweight, target 3,10 euros.
Telecom Italy + 0,34%.
Effervescent luxury. Moncler +0,7%, marks new historic highs, is even better Tod’s +1,8%. According to the DEak reporter website, some private equity funds are evaluating the possibility of buying the Fay clothing brand. But Diego Della Valle's club doesn't want to sell. Down Geox -2,5% and Ovs -1,2%.
On the finance front, the new leap forward in managed savings stands out, thanks to inflows of 3,4 billion in March. Since the beginning of the year, inflows have amounted to 12,5 billion.
Cheetah +0,6%. The CEO Monica Mondardini is about to resign. she after nine years at the helm of the publishing group but, she will remain at the helm of the Cir holding controlled 46% by the De Benedetti family. The quarter closed with consolidated revenues of 155,8 million euros, up by 20,7% compared to the first quarter of 2017 (before the merger with Itedi) but marking a decrease of 5,8% on a like-for-like basis.
