Greece worries but not too much. Pleasant not enough to keep Tokyo's +0,3% from setting a new record since early 2000.
Meanwhile, the Nasdaq shines in the USA, closing the seventh consecutive session higher at 4.924,70, one step away from the record (at 5.048,62) set in March 2000.
On the other hand, the Wall Street indices are holding back: Dow Jones - 0,24%, S&P 500 -0,12%. What weighed more than the tensions in the Eurozone was the fluctuating trend of crude oil.
However, the dollar gains positions, traded at 1,1369. Yesterday morning, when the agreement on Greece seemed to be done, the euro was worth 1,1450.
Il market movers of the day remains the attempt of an agreement in extremis between Greece and its European creditors. The Stock Exchanges of the Old Continent remain optimistic, judging by the closures.
In Milan, the FtseMib index rose by 0,6% to 21.789 points. Frankfurt rose by 0,37%, Paris by 0,71%, Madrid by 0,97%. Athens also participates in the party +1,06%. Only London lost 0,13%.
After falling below the 120 basis point threshold in the morning, the spread between the BTP and the Bund closed at 121 basis points. The 1,60-year yield is at XNUMX%.
The appointment is for 15 pm. At that time, yet another, but this time decisive, confrontation between the Greek delegation and the Eurogroup will take place. Yesterday morning, Athens made its request to extend its aid program by six months, pledging to maintain budgetary balance during this period, to make immediate reforms to fight tax evasion and corruption and to start economic growth.
Germany answered no: according to Berlin, there is no commitment to respect the agreements already signed. On the contrary, the spokesman of the president of the EU Commission, Jean Claude Juncker, spoke of "a positive sign that paves the way for a reasonable compromise in the interest of the entire Eurozone". The reply from Athens was dry: the document is there, to be accepted or rejected.
TELECOM INCORPORATES TIMEDIA. AND REVEAL THE BUSINESS PLAN
A busy day looms for Telecom Italy, yesterday finished down by 1,2% at the same time as the board meeting dedicated to the accounts and the business plan which will be illustrated to the market today.
In the meantime, the board of directors has given free rein to the merger by incorporation of Telecom Italia Media into the parent company. The preliminary exchange ratio, reads a press release, was set at 0,66 ordinary and 0,47 savings for each TI Media share of the same category. There are no cash settlements.
The alternative to the exchange for shareholders is withdrawal at market prices: 1,055 euros for each ordinary share and 0,6032 euros for savings shares.
Instead, the indiscretion on the alleged interest of private equity funds for the former incumbent is deflated. Tarak Ben Ammar, upon leaving the council, dismissed the rumors with a joke. "As for Trujillo - he said referring to the summer rumors about alleged contacts with the American financier - these also come from Disneyland"
OIL
The worst sector in Europe was that of Oil stocks (Stoxx -2,3%) which reflects the sharp decline in crude oil: Brent lost 3% to 58,8 dollars a barrel, Wti - 3,6% to $50,2. In the evening, however, a recovery in prices started: +0,8% to 51,57 dollars a barrel.
Bitter day for Tenaris – 4,2% to 12,91 euros, worst blue chip of the day after the release of fourth quarter data. Net income halved from a year earlier to $195 million.
The company explained in a statement that the fall in oil prices has prompted energy companies to cut investment plans in drilling, also resulting in a decline in demand for special seamless pipes. "During 2015 our sales in the USA and Canada will be penalized by the drastic reduction in drilling activity", reads the press release. Also in other areas of the planet there are similar problems.
Also declining Eni it lost 0,8% to 16,12 euros. But broker promotions after 204 accounts flocked to the stock yesterday.
In particular, Goldman Sachs confirmed the stock in the Conviction Buy List, with a target price of 17 euros. Deutsche Bank has raised the target price to 18 euros from the previous 17,5. Hold judgment confirmed.
Saipem is down 1,5%.
Seventh consecutive rise for Saras which retreats from the highs reached in the morning at 1,29 euros and closes with a gain of 2,2% at 1,2360 euros. The quotation returned to the levels of last May. The stock is starting to close the sixth consecutive positive week: the rise from Monday is equal to 15%.
Kepler Cheuvreux upgraded the stock to Buy from Hold and raised the target price by 50% to €1,50 from €1. Mediobanca reiterated the Outperform recommendation, bringing the target price to 1,82 euro from 1,14 euro.
AUTO RECORD, FCA TRIGGER THE TURBO
Leading the Eurostoxx are Automotive stocks (+0,9%).
Fiat Chrysler it ended the session up 3,9% on new highs since March 2000 at 13,35 euros.
The analysts of Exane Bnp Paribas promoted the rating to Outperform from Neutral, setting a target price of 15 euros from 13,70 euros. The report already looks to the after Ferrari. According to analysts, the new driver of the increase will be the recovery of the European market. But a strongly growing Maserati spin-off operation cannot be ruled out.
Meanwhile, preparations for the spin-off of Ferrari continue. Piero Ferrari said the family has no intention of divesting its 10% stake in Ferrari after the stock exchange listing. “I have never sold and I have no intention of doing so,” said Piero Ferrari on the sidelines of a presentation in Modena.
The Fiat Chrysler stock records a performance of +39% from January XNUMXst to today.
Bene Pirelli + 1,2% Cnh Industrial +1,9% and Exor +2,2%. Very well Pirelli + 1,2%.
THE REFORM OF THE POPULAR IN THE CLASSROOM FROM MARCH 9
The rise of the banks continued: The deadline for the presentation of the amendments to the law decree for cooperative banks and investments, now being examined by the Chamber, expires on February 26th and probably the vote in the commission should take place from March 2nd to 6th, for then arrive in the courtroom from 9 to 13 March
In great recovery MontePaschi rise of 4,7%.
In the spotlight too Bper +4,1%, undoubtedly set to be one of the protagonists of the next season of M&A among the Popolari.
Also on the rise Banco Popular +1,4% and the bpm +0,9%. Among the Bigs Unicredit + 1,2% Understanding closed unchanged.
ENEL NO LONGER SELLS ROMANIA
Enel gained 1,02% after suspending the process of selling assets in Romania, having already met its debt target.
The subsidiary Enel Green Power -0,16% has instead started work on the construction of two new photovoltaic plants in the municipality of Tacaratu, in the state of Pernambuco, in northeastern Brazil.
Among the other topics of the day:
They fall back Rcs-1,77% and Mondadori-1,14% after confirmation by the Segrate publishing house of an interest in Rcs Libri, money instead on Moncler +2,52% and Rest + 2,34%.
Between the small caps it rips Zucchi, the company owned by Gigi Buffon up 14,12%
