Business Square ends the week with some energy, +0,93%, 22.672 points, hitting a good rebound after yesterday's losses, accentuated by Juncker's fears on the Italian elections.
At the top of the blue chip ranking tonight are oil and utility companies such as Snam +3,86%, Italgas +2,82%, Saipem 2,53% and Terna +2,53%. The banks are positive starting from Bper +3,8. Banca Generali -0,37% goes against the trend. Outside the main basket Mps sinks -2,8%. The other European price lists are colder: London down -0,11%; and Madrid -0,55%; timid gains for Frankfurt +0,18% and Paris +0,15%.
Wall Street, after a rising opening, continues the session in positive territory, while attention remains high on the central bank's moves. Today speeches by some members of the Federal Reserve are expected, such as Dudley, Rosengren, Mester and Williams from which it is hoped that further insights will emerge on the state of the US economy and on monetary policy strategies, following the publication, on Wednesday, of the minutes of the last meeting and reassuring words on the pace of increases of the cost of money, by James Bullardche.
High rates and high debts are scary, warns the OECD, which recalls: iThe debt in the countries of the organization has almost doubled in 10 years, reaching 45.000 billion dollars, from 25.000 billion in 2008. If interest rates rise, as it seems almost everywhere, the costs of refinancing it will rise, weighing on balance sheets, with dangers for the economic recovery.
Two-sided session for the Italian secondary, with the 2,07-year bond stable on a yield of XNUMX%, but the spread with the German counterpart rose to 141.30 basis points (+2,91%). The BTPs, continuing to underperform the 'core' card in one of the worst weeks of the last four months. The end-of-the-month auctions, the last before the March 4 policies, contribute to ballast Italian government bonds more than the uncertainty about the outcome of the vote.
The dollar continues its well tuned phase and the exchange rate with the euro drops just below 1,23. The stronger dollar slightly penalizes gold, which falls to 1328,12 dollars an ounce. Oil remains buoyant after yesterday's US inventories data; Brent 66,69 dollars per barrel (+0,88%). the positive inclination of black gold helps to push the oil stocks of Piazza Affari, moreover Saipen was included by Morgan Stanley among the stocks to have in the portfolio, with a revision of the target price from 5,5 to 6 euro, while Tenaris is rewarded by analysts after the quarterly results released yesterday.
The red part of the Ftse MIb is led by Buzzi -1,93%. Profit-taking penalizes Ferragamo -1,26%. The auto sector is weak, Fiat -0,81%. Recordati loses 0,82%. RCS gains 4,6%, with the majority shareholder Urbano Cairo optimistic about the accounts.
