The European stock exchanges embrace optimism in view of the most delicate round of the negotiations between China and the US on tariffs. Piazza Affari, the best in Europe, at 13 pm it advanced by 59% around 1,6 under the pressure of the banks. The euro weakens at 1,13 on the dollar, the other stock exchanges in the Eurozone were also positive: Paris, Frankfurt and Madrid recorded increases of more than 0,8%. London rises +0,6% despite the fact that the British economy is approaching Brexit with the brakes on: only +0,2% to GDP in the last quarter of 2018, the lowest growth rate for six years part.
The yield of ten-year BTP drops to 2,89%, from 2,96% on Friday. The spread goes up to 278 basis points.
Worried judgments on the peninsula's economy are raining down. According to JP Morgan, in 2019 the GDP will record a decrease of 0,3% accompanied by a growth of the deficit/GDP to 2,8% and of the debt/GDP to 133,5%. This was predicted by Jp Morgan in a report signed by the economist Marco Protopapa. "It remains to be seen whether Italy's political leaders will at some point recognize that Italy's new recession is largely a derivative of their fickle economic policy and less-than-prudent approach."
I Brent prices move slightly down, between the support provided by the firmness shown in the cut in supplies by the OPEC countries, the jump in US drilling and fears about global demand. The Brent contract rose by 22 cents to 61,88 dollars a barrel. The WTI yields 49 cents to 52,23 dollars. Eni +1%. Saipem +2%.
To give a boost to the Italian price list are the banks, promoted on assetsoe galvanized by overcoming the examinations of the EU Supervision which communicated the minimum thresholds of the Common Equity Rier 1 of the big banks.
From the publication "banks and money of the Bank of Italy" it emerges that in December 2018 NPLs of the Italian banking system decreased by 34% as a result of some securitizations.
Unicredit advances by 1,4%. The CET 1(Common Equity Tier 1) is at 10,07%, against 12,13% at the end of December. Jp Morgan lowers the target price to 15 euros.
It does even better Bench Bpm +7,213%. CET1 at 9,25%, against 12,1% at the end of May.
A wheel follows Bper Bank +5,2%. Kepler Cheuvreux and KBW raise the target price, the former to 4,5 euros and the latter to 4,3 euros.
Ubi Banca +3,8%. CET1 at 9,25%, against 11,3%. Intesa Sanpaolo +2,1%. JP Morgan lowers the target price to 2,3 euros.
The other financials are also doing well: Azimuth +3,7%, is willing to consider aggregation hypotheses, said the president Pietro Giuliani in an interview. FinecoBank +1,3%.
Between insurance Generals +0,8%. UnipolSai +1,1% bounces after the sale of Unipol Banca to Bper.
Flurry of plus signs also in the rest of the list: no stock in the main basket is in negative territory.
- Tim +1,9%. The Brandes fund increases its stake to 2,4%, from the previous 0,1%. The same entity holds 6,61% of savings shares.
- Leonardo +2%. The subsidiary Agusta Westland would receive a 900 million dollar order from the United States Navy. Fiat Chrysler +1,6%, tries to rebound after losing 14% last week. Cnh Industrial +2%. After the meeting in London with Cfo Palmer, today many investment houses returned to take stock of the stock and opinions are divided. Equita and Mediobanca are cautious, while for Fidentiis the market underestimates the prospects for the second half and the solidity of the balance sheet.
- Juventus +3,5%. Well too Pirelli +1% and Recordati +1,5%.
Out of the main basket to record the thud de Il Sole24Ore -1,95% at 0,35 euro, a new historic low.
D'Amico loses a fifth of its value (-10%).
