European stock exchanges accelerate in the wake of Wall Street and Asian stock markets after Japan reconfirmed Kuroda as head of the Central Institute and chose a supporter of more daring monetary easing, Wakatabe, as deputy. Piazza Affari + 0,8% extends beyond 22600 points. The other lists also made progress: Frankfurt, Paris and Madrid recorded progress of between 0,6 and 0,8%. Same performance for London +0,7%.
The dollar's descent is slowing down after the US currency has touched its lowest level since 2014. The Euro-dollar cross falls below 1,25. BTPs improve on the bond market. The spread drops to 127. The future on the Italian ten-year bond appears stronger even than its Spanish counterpart. In the evening, Fitch's verdict on Greece's rating will be released today at B-, the level to which it was promoted last August by the previous CCC. The outlook is positive.
Piazza Affari promotes Eni's accounts +0,98% which closed the fourth quarter of 2017 with an adjusted net profit (excluding extraordinary items) of 0,98 billion euro, more than doubled compared to the same period of 2016. The strong leap in production which in December reached an absolute record of 1,92 million barrels/day. The total dividend for 2017 has been confirmed at €0,80 per share, of which €0,40 already paid as an interim dividend last September. The CEO Claudio Descalzi is optimistic: “For the future, growth prospects are excellent in all businesses. Which means that, if market conditions are more favourable, we will be in a position to generate enormous extra-value for our shareholders".
Tenaris -0,2% and Saipem -0,5% are back in the red. Enel rose by one point: this morning Landesbank upgraded its judgment to Buy from Hold, confirming the target price of 5,60 euros. Telecom Italia goes up +0,6% after the Vivendi conference call which did not reduce the value of the stake held in the telecommunications group. The return of the dividend would be "the icing on the cake" for shareholders. Mediobanca Securities analysts say so in a note today in which they confirm the outperform recommendation on the stock and a target price of 1,3 euros. The last dividend that the group distributed on ordinary shares dates back to 2013 (0,02 euro per share).
Fiat Chrysler +1,5%, should proceed shortly with the spin-off, followed by listing on the Stock Exchange, of Magneti Marelli. The issue should be discussed next week by the board of directors. Among industrialists Buzzi and Pirelli both did well +1,8%. Prismian +1%. Kepler Cheuvreux raises the rating to Buy from Hold. Recordati's rebound continues +2% after the recent sharp decline. Autogrill +2% reduced initial earnings after the rumor of a sale of Italian operations was denied.
Moncler +0,4% has reached a new historical record. The banks are positive: the sector index gains 0,5%, in line with the European sector. Creval still loses blows -1,2%, after the crash following the publication of the conditions of the highly dilutive capital increase which will start on Monday. On positive ground Intesa +1%, Unicredit +1%. Banco Bpm +1,7%, Ubi Banca +1,3%.
