THE POPULAR PUSH UP THE PLACE OF BUSINESS. QUANTITATIVE EASING BOOSTS THE MARKETS
Piazza Affari opens the week with a sharp rise, ahead of the rest of Europe. Beyond the expectation of Quantitative Easing, common to all markets, the leap is favored by the prospect of a "revolution" for cooperative banks. The Ftse Mib index rose by 1,17% to 19.481. The rise of the other continental stock exchanges was more modest: Paris +0,35%, Frankfurt +0,73%, Madrid +1,07%, London +0,54% was also positive outside the Eurozone, while Wall Street was closed for the Martin Luther King holiday. The yield of the BTP in the morning reached new historic lows, the same happened for the Spanish and French ten-year bonds. The Btp/Bund spread rises to 128 points due to the fall in the yield of the German bond.
The euro appreciates against the dollar to 1,162 from 1,156 at the close. On the stock market, the credit sector held the scene. In fact, today the government should announce the presentation of a bill that cancels the per capita vote and, in fact, transforms the cooperative credit institutions into joint stock companies. They are all flying but above all Banca Popolare Milano which also reaches +15%. Good news also arriving for the rest of the system: in December loans to households and businesses returned to growth after two and a half years of uninterrupted decline, even if only by a modest 0,1%. Unicredit +3,8%, Intesa +1,3%, Mediobanca +4,8% did well. MontePaschi is up 4%.
The insurance companies moved little, with the exception of Cattolica +6%. Brent oil loses 1,5% to 49,4 dollars a barrel. Eni -0,5%, Saipem +0,3%, Tenaris +1,2%. The luxury sector is brilliant: Ferragamo is up 2,9% after the declarations of CEO Michele Norsa on the December performance, Tod's +3,8%, Luxottica is up 1,7% pending the preliminary data examined today by the bod. Fiat Chrysler's advance +1%. Atlantia rises by 0,4% after the release of November data on traffic on Italian motorways, the month closed with a drop of 0,6% year on year: -0,3% for cars and -1,3% the trucks.
