The positive rebound of oil invigorates the Stock Exchanges and Piazza Affari shines, on the European scene, with the best performance: +1,21%, 19.774 points. The banks wipe out yesterday's losses, while Leonardo returns to the dividend after six years and sparks: +7,75%, best blue chip of the day. Ferragamo, on the other hand, suffers -2,27%, in the wake of the 2016 results.
Fractional increases for the other markets of the continent: London +0,15%, Frankfurt +0,18%, Paris +0,23%, Madrid +0,79%. Amsterdam gains 0,3%, pending the Dutch election results, which keep the whole Eurozone in suspense. The concern is that the advance of the so-called populist forces could also influence the next important appointments, starting with the presidential elections in France.
Wall Street opens cautiously and remains moderately positive, at least until mid-session. The countdown to Janet Yellen's press conference has started and, in a few hours, the Fed's moves on rates will be known (the probability of a hike is 93%) and more information on policy for the year will be available in progress.
Positive session for Italian bonds: the 2,28-year yield falls to 2,86%; the spread with the Bund closed down by 186.80%; at XNUMX basis points. The words of Peter Praet, a member of the ECB executive, are invigorating, according to which the European central institute is still far from normalizing its monetary policy, despite the fact that the last council deemed it no longer necessary to refer to the use of all the measures available to stimulate the economy. We must be careful to say out of the ford. According to the governor of the Bank of Italy, Ignazio Visco, in fact the recent years have been "an unprecedented economic crisis, at least for our country, much more serious than that of the XNUMXs".
The euro-dollar exchange rate moved little; stable gold. Oil rears its head: Brent +1,41%, 51,64 dollars a barrel, also thanks to the news that weekly crude stocks in the USA are down, after last week's leap forward. The EIA expected a further increase, but instead there was a decline. Corroborated by the raw material, the oil stocks of the Ftse Mib rebound: Eni +1,38%; Tenaris +2,32%; Saipem +1,07%.
The best stock, as we said, is Leonardo, which after years without a dividend, will distribute a coupon of 14 cents, although profits dropped in 2016 to 507 million euros from 527 the year before. The CEO Mauro Moretti also announces that in 2017 the dividend will rise to 16 cents and in 2018 to 18 cents.
Another stock in the rally is Fiat, +1,93%, on the day of the meeting between US President Donald Trump and the leaders of the car manufacturers for a possible revision of the rules on emissions. Meanwhile, from Brussels they let it be known that Italy and Germany have reached an agreement for FCA to take measures to reduce the level of NOx emissions. New headaches instead for Audi, the subject of a search in its headquarters, in Ingolstadt, again with regard to the dieselgate.
Purchases on Cnh: +2,35%; Prysmian +1,83%; Stm +1,19%; Telecommunications +1,35; Snam +1,63%. Profit taking on Brembo: -1,28%. Financial gains: Azimut +1,23%; Banco Bpm +2,63%; Mediobanca +1,72%; Entente +1,07%; Unicredit +1,99%; Unipol +3,54%; Generals +1,21%.
Rain of sales for Ferragamo: -2,27%, with Kepler Cheuvreux who downgraded the rating from 'buy' to 'hold' after the 2016 results published yesterday. Yoox falls -1,83%. Travel shipped Moncler +1,43%.
