Final sprint to Piazza Affari which at the end of the day accelerates and scores a gain of 2,21% after a growing session. The Ftse Mib closes at 18.011,91 points. The other European Stock Exchanges also did well: Frankfurt +2,34%, Paris +1,22% and London +0,92%. Purchases on the LSE title protagonist of a dispute over the risk of the world stock exchanges.
ICE, the holding company controlling the New York Stock Exchange and Euronext has announced an offer on the City market to counter the merger of the LSE group with the German Stock Exchange. The sales instead hit Barclays after the 2015 accounts and the dividend cuts in 2016 and 2017.
In the morning, the performance of the Asian markets supported the sentiments of the stock markets, which then left the baton to the good intonation of Wall Street.
Markets were unaffected by the contraction in manufacturing activity in Europe which resulted in decline. Investors are already looking to the ECB meeting on 10 March which could launch new measures to support the economy.
In Italy, the PMI data on manufacturing activity stopped at 52,2 points, the lowest for 12 months. Also in Italy, Istat communicated the upward revision of 2015 GDP growth: from 0,7 to 0,8 per cent, the growth of employment in January (+0,3%) compared to December 2015 but at the same time the increase in youth unemployment to 39,2%. Overall unemployment is stable at 11,5%.
The Btp-bund spread closed sharply down (-5 basis points) to 125 points and a yield of 1,41%.
On Wall Street the indices are moving positive. At the close of Europe, the Dow Jones rose 1,55% and the S&P500 1,64% on the back of encouraging macroeconomic data.
The ISM manufacturing index rose in February to 49,5 points from 48,2 and above analysts' expectations which remained at 48,5. The market is now looking to tomorrow's Beige Book and Friday's labor market data. Spending on construction also exceeded forecasts: in January they jumped by 1,5% to the highs of October 2007. Today we are voting in 12 states and up for grabs are almost half of the 1.237 delegates needed to win the nominations in July. The euro-dollar exchange rate dropped 0,28% to 1,0843.
WTI oil is up 1,27% to 34,18 dollars a barrel. Contribute to the latest statements by Saudi Arabian leaders who return to talk about agreements with other oil-producing countries.
The Geneva Motor Show opens and the Automotive sector is also highlighted at Piazza Affari. FCa rises by 5,28%. CNH is instead the only negative blue chip on the Milan basket (-0,41%).
The best stock of the Ftse Mib is Finmeccanica +6,87%, followed by Mps +5,02%, Azimut +4,67%, Mediaset +4,5%.
With the rise of oil, purchases also reward oil stocks. Eni +3,09%, Tenaris +2,39% while Saipem closes unchanged.
In great evidence in Milano Campari which after a leap of 7% closed at +3,52% supported by the results for the quarter: which archived a strong increase in revenues and an operating profit stronger than expected.
Atlantia also under the spotlight +4,47% on the wave of the news that the Benettons are looking for a partner willing to acquire a third of the capital of Autostrade per l'Italia, now 100% owned by the holding.
The banking sector is positive: Unicredit +2,39%, Ubi +3,66%, Intesa +1,88%, Bpm +1,88%, Banco Popolare +2,05%.
Meanwhile, Banca Popolare di Vicenza is heading towards Piazza Affari. The institute filed the application for admission to listing of its shares on the Milanese electronic stock market (MTA) with Borsa Italiana.
Publishing titles in turmoil outside the Ftse Mib RCS +7,97% driven by the wait for the meeting of the board of directors on March 22 to examine the final data for the 2015 financial year and the closing of the negotiations with the six banks on the refinancing of the publishing group's debt. News on the development plan for 2018 is also expected by the end of the month.
