Euro and Eurozone rates fall after US datainflation now below zero. In February, the consumer price index returned negative: -0,2% compared to January, -0,3% on an annual basis.
reflexively, the single currency fell to 1,0896 against the dollar to a four-week low. The trend is related toawaiting the intervention of the ECB, which triggered the rush to purchase German government bonds: the yield on the 0,11-year Bund falls to 0,077%, one step away from the historic low (-5%) which was already surpassed this morning by the 0,435-year Bund (-2%) and 0,544 years (-1,47%). Italian government bonds moved little, with the ten-year bond stable at 135% for a spread of XNUMX basis points.
Equity markets retreat, disappointed by the outcome of the G20 and frightened by the prospect of a currency war. Under the pressure of the new heavy decline in Chinese stock exchanges, Business Square falls by 0,6%, in line with the other markets of the Old Continent. He suffers more Frankfurt (-1,5%).
Il Petroleum it retreats from the highs reached this morning in Asia and is now traded at 34,90 dollars a barrel (-1,5%). Eni it is down by 0,43%, although supported by the Buy of Citigroup. Tenaris drops by 0,4%, Saipem + 2,3%.
The tensions on the macro front accentuate the downward trend of the banking sector, the hardest hit. Guide the descent Mount Paschi (-4,9%). Heavy the decline of Unicredit (-2,7%), Entente (-3%) and Ubi (-3,3%). Under pressure Pop Bank. Milan (-1,95%) And Banco Popolare (-0,90). Today new meeting between the advisors of the two groups to agree on the answers to be provided to the ECB in the context of the awaited merger. The ECB would have asked for an improvement in the Texas ratio or a reduction in non-performing loans in 24-30 months instead of the 5-6 years initially envisaged.
Among the insurance Generali drops by 1,5%. Eni -0,43%, supported by the Buy of Citigroup and Eni. He runs Saras (+6,5%), waiting for the quarterly results. Mediobanca Securities confirmed the outperform opinion with a target of 2,5 euro, forecasting results in line with the indications provided by management, ie an adjusted EBITDA between 740 and 760 million euro and a net cash position of 200 million. The coupon will be announced on 14 March and the consensus indicates 0,17 euro per share which makes it one of the most generous stocks on the Stock Exchange at current prices with a dividend yield of 11%. But Kepler expects a dividend of 18 cents.
Enel retreats 1,1%, Telecom Italy -2%. Fly Fiat Chrysler (+3,62%) on the eve of the launch of six new models at the Geneva Motor Show. However, since January FCA has lost at least twice as much as its US competitors GM and Ford since the end of 2015. StM drops by 0,8%. Finmeccanica +0,5%. Still on the rise Geox (+2,3%), rewarded by Citigroup's Buy after Friday's extension (+10%).
