Thanks to the rally in bank shares, the Ftse Mib index marks a +1,6% and returns to almost 17 thousand, signaling itself as the most brilliant European index. The other lists of the Old Continent follow closely with increases of more than 1%. Weaker London +0,8%. Burberry is down 7,7%, to 1.395 pence, after reporting data for the first half of the 2016-2017 fiscal year (April-September 2016) which show a decline in business in Asia and worsening retail sales. wholesale. Consumer demand weakened in Hong Kong, with sales down more than 10% in the first half.
Consumer prices in Great Britain rose by 1% in September (+0,6% in August) by 0,2%, the highest for two years, a leap that places the Bank of England in front of a dilemma on his next moves. Meanwhile, according to recent calculations by the Bank of England, the level of the pound against other currencies has fallen to a 168-year low. The euro appreciated slightly against the dollar to 1,101 from 1,100 yesterday evening.
The absolute protagonists of the day are bank stocks. Bofa-Merrill Lynch upgraded European banks to Overweight. The Eurostoxx index of the sub-fund rose by 1,7%.
Lead the race in Milan Mount Paschi +7%, driven by the positive reception of the market to Corrado Passera's entry into the field. Today the plan drawn up by the former minister of industry faces the scrutiny of the board of directors, in the presence of the advisors Mediobanca and Piazza Affari, for once, it gives sprint to the lists of all Europe. Thanks to the comeback JP Morgan. According to the ICBPI, "the plan will be carefully examined, but it is easy to see some difficulties".
Advance further Unicredit +2%. The sale of the Polish bank Pekao, which should lead to a collection of 2,5 billion euros, will reduce the amount of fresh capital to between 6 and 8 billion.
The head-to-head between Poste and Amundi to buy the Pioneer group from Unicredit also heats up. The French group would have offered 4,2/4,3 billion euros.
After the merger, both the Banco Popolare +2,8% that bpm +2,2%. Well bought also the Valtellinese credit + 3,5% after the jump of more than 8% yesterday. The rally continues Bper + 4,7%.
Insurance is on the rise. Generali + 1,3% Unipol + 2% Unipol Sai + 2%.
Well the managed: Anima + 3% Azimuth + 2,1% Banca Mediolanum + 2,3%.
Telecom Italy earns 3%, Mediaset + 1,2%.
Rallies in energy stocks and utilities: Eni + 1,8% Enel + 1,6% Snam +1,5%. Barclays has started coverage with Overweight and a target price of €5,5.
Tenaris +2,5%: the broker Piper Jaffray has raised the rating to Overweight from Neutral bringing the target price of the ADR (a certificate representing two Tenaris shares) to 33 dollars from 21 dollars. Implicitly, the target price of a share is 14,9 euros.
Leonardo + 1% StM + 2% Industrial Driver's License + 2,7%.
