A few hours after the start of the meeting of central governors in Jackson Hole, the European stock markets are moving moderately higher awaiting indications. On the eve of Mario Draghi's speech, the president of the Bundesbank Jens Weidman renewed his request for a "fast and orderly" abandonment of Qe. Frankfurt, Paris and London gain 0,3%. Madrid 0,5%. Spain's second-quarter GDP grew by 3,1% year-on-year,
In Piazza Affari, the Ftse Mib index rose by 1,04% to 21.844,42. The tension on the Btp is slightly reduced. The 2,10-year yield drops to 2,11% from 171% with the spread at 175 basis points from 0,38. The yield on the German Bund is almost unchanged at +1,18%: yesterday it reached its lowest point in eight weeks. Flat dollar against euro: cross 0,921. The Pound hints at a timid rebound after nine falls in ten sessions: cross to 0,923 from 12, XNUMX-month high
Crude oil moved little with the WTI at 48,4 dollars a barrel and the Brent at 52,40 dollars. Weekly inventories of crude oil in the US were down by 3,3 million barrels, better than the -3,5 million expected. The global level fell to its lowest level since January 2016.
Fiat Chrysler still on the shields +4,7% to 12,7 euros, after reaching a new all-time high of 12,84, with trades of 22,7 million pieces from a daily average, calculated over 30 days, of 14,1, XNUMX million. The market believes in the spin-off project of the Alfa Romeo and Maserati brands and of the components. Among the various hypotheses, the enhancement of Magneti Marelli stands out, already an object of interest by Samsung. The spin-off of the subsidiary it would be functional to speed up the plan that envisages the elimination of debt. In his call with analysts in July, Marchionne said the story of the spinoffs was not finished. He explained that there are no impediments to a possible separation of Maserati-Alfa Romeo, adding that however this did not mean that the operation will be carried out. In his April call this year, he said the Ram and Jeep brands were strong enough to be independent entities outside the FCA group. On several occasions he spoke of the sale or of the possibility of taking Magneti Marelli components out of the group, adding that nothing has been decided.
Driven by the Italian-American company, Exor +0,8% and Ferrari +0,4% rose to 115,62 euros, one step away from yet another historic record (116,38. La Rossa presents the new 'Portofino', the heir to the legendary 'California' which will be one of the queens of the Frankfurt motor show scheduled from September 14 to 21. The sale price should be around that of California, ie around 200 thousand euros.
Piaggio advances +3,4%. This morning Fidentiis analysts promoted the stock by profoundly changing the recommendation and going from Sell to Hold.
Positive news for the Italian banking sector. The Dbrs rating agency has raised the rating on MPS's long-term debt to 'B' (high) from 'B' (low) with a stable trend. Intesa Sanpaolo +1%, acquired Banque Morval, a Swiss bank active in asset management. UniCredit +1,6%.
Ubi Banca +1,7%. This morning, Barclays analysts confirmed the Equalweight opinion on the banking group by slightly raising the target price from 3,9 euros to 4 euros.
