The fall of the Shanghai Stock Exchange (-4% after the collapse of Chinese exports), combined with the data of Italian industrial production (at a six-year low in the quarter, despite the recovery in January), he confirms the alarm launched yesterday by the ECB with the downward revision of growth estimates. All European lists are down, starting from Piazza Affari, which accelerates downwards: -1,2% in the middle of the session, just below 20.500. It gets worse Madrid with a loss greater than one percentage point. London -0,9%. Paris -0,45% Frankfurt -0,7%.
Surprisingly improves the data of Italian industrial production in January: +1,7%, after four consecutive declines. “The variation on a quarterly basis – reports Istat – remains broadly negative, while on an annual basis the fall recorded in recent months is attenuating”, which stands at -0,8%.
Positive the bond market despite the tensions within the government on Tav. The differential between the Italian and German 245-year yields remains around XNUMX basis points, a slight increase compared to yesterday. The return is just under 2,5%. Even more positive was the performance of two-year bonds, which fell to a yield of 0,663%.
The yield of German bund it fell to 0,05% (-1 basis point), the lowest for two years. Ewald Nowotny, head of the Austrian central bank, said it will take time for the ECB to prepare the new TLTRO program announced yesterday.
THEeuro yesterday it lost 1% against the dollar, to 1,120. This morning it is at 1,121 on the lowest since June 2017.
Il Petroleum Brent at $65,4 a barrel, down 1,3%. Tariff talks between China and the United States could hit a snag.
In Piazza Affari, the rally dies down after a brilliant start Atlantia, slipped into negative ground (-0,23%) in the late morning. The company said it was ready to open the capital of Autostrade per l'Italia. In the fourth quarter, net income stood at 167 million euros, about 30 million euros below analysts' estimates, despite the lower-than-expected tax burden.
Still positive though Azimuth (+1,34%), rewarded by Kepler Cheuvreux who raised the rating to Buy. Target price at 16 euros.
They resist the utility. The EuroStoxx index +0,3% reaches its highest level since July 2011.
Despite the slight decrease in the session, Enel is starting to close the fourth positive week in a row with a provisional balance of +3,7% and setting the new highs of the last 14 months at 5,53 euros.
Industrialists are in negative territory. It collapses Fiat Chrysler (-4%), ahead of Cnh (-1,79%) And Pirelli (-1,66%). New discount for Prysmian (-1,94%) And Leonardo (-1,85%). Ferrari -1%. The Maserati subsidiary aims to produce 100.000 cars in 2022, said the CEO of the Modena-based carmaker, Harald Wester, in an interview with Sole24Ore. Wester confirms that in the future Maseratis will not be fitted with Ferrari engines
Even the bankers are bad: Unicredit lose 1,5%, Bpm bank -0,87% Ubi -0,42% and Understanding -0,42%.
Catholic (+1,5%) closed 2018 with 107 million euro of net profit, almost three times the result of 2017. Net premiums at 5,36 billion, from 4,49 billion in 2017.
