"The Federal Reserve will decide only at the last moment." So he writes in The Wall Street Journal the most authoritative observer on the subject Federal Reserve, Joe Hilsenrath, already the protagonist of memorable scoops before the summits of the monetary committee. It is a new confirmation of the uncertainty that reigns in Washington and which is reflected in the performance of the price lists. A significant reading that could tip the scales one way or the other will come today with the University of Michigan Consumer Confidence Index.
Meanwhile, at the end of the morning, the European stock exchanges move slightly below parity: a Milano the FtseMib index lost 0,3%.
The figure for Italy stands out July industrial production: +1,1% compared to June, higher than the expectations of economists stuck at +0,8% and on the highest level of the last 13 months. The growth compared to the same period a year ago is 2,7%, while expectations were at +0,9%.
The worst sector in Europe is that of telecommunications, after the announcement that Teliasonera (Swedish) e Telenor (Norwegian) have renounced the merger in Denmark in the face of constraints imposed by the EU Commission. The Eurostoxx sector index falls by 1,5%.
In sharp decline Telecom Italy (-2,2%). the Spanish girl Telefonica loses 2%, the French Orange down 1,5%, Deutsche Telekom -0,8%.
The banking sector is also in the spotlight, after the government approved the implementing rules of the new bank resolution system (Bail In).
Unicredit unchanged, Understanding -0,7%. Mount Paschi loses 1,3%: the CFO Bernardo Mingrone has resigned, which will be effective from next September 25th.
Generali -0,5%.
Tonight's sharp rise of crude (WTI +4% to $45,6, Brent +2,7% to $48,8) buoys oil stocks: Eni +0,6%. This morning Jefferies confirmed the Underperform rating and cut the target price to 11,5 euros from the previous 13,50 euros.
Tenaris +2,5%: This morning UBS reduced the target price of the Wall Street-listed ADR to $30,50. A price corresponding to approximately 13,50 euros per share.
Saipem (+1%) was awarded new contracts in onshore drilling in the Middle East and South America, for a total value of approximately 250 million dollars, according to a press release.
Enel +1%: Berenberg raised the recommendation to Buy from Hold, target price at 4,60 euros.
fca +0,4%: this morning Goldman Sachs reduced the target price to 18,10 euros from 21,20 euros, confirming the Buy opinion.
Kepler issued a buy, up rating Piaggio but it reduced the target price from 3,3 to 2,8 euros.
