Business Square took courage in the afternoon, after the slightly positive opening of Wall Street, and closed up by 0,38%, 20.304 points. The auto sector rears its head, benefiting from the positive sentiment towards the talks on tariffs between the US and China. Juventus, on the other hand, are a magnet for signings in view of the match against Atletico Madrid in the round of XNUMX of the Champions League tonight.
Milan is more backward than Frankfurt + 0,82% Paris + 0,69% Madrid +0,49% and London + 0,69%.
The banks weigh moderately on the Milanese list, which close in contrast, following the investigation into the palleged diamond scam, some profit taking and the raising of the spreads. The Italian secondary stops declining in the wake of yesterday's disappointing macro data and awaiting the verdict of the rating agency Fitch, scheduled for Friday evening. The spread between Italian and German ten-year bonds rises to 275.80 basis points (+2,6%); the yield on the 10-year BTP rises to 2,86%. The reflection of the chief economist of the ECB, Peter Praet, contributes to the uncertainty of the session, according to which the discussion on new subsidized loans to banks will arrive "soon", but it is not said that the decision will be immediate and that the conditions will be as advantageous as in the past, given that the previous operation was "extremely generous".
Wall Street goes slowly. We are moving cautiously as we await the minutes of the latest Fed meeting, from which we will be able to understand more of Jerome Powell's change of pace on monetary policy. How dovish the governor will be in the coming months. The focus is also on reducing the balance sheet of the central bank which, according to John Williams of the New York Fed, will have to be reduced by 600 billion dollars within the year.
The markets remain moderately optimistic about the ongoing negotiations between the US and China on tariffs, in light of the positive assessments of Donald Trump and the fact that the president does not consider March XNUMX, the day on which the truce expires, an insurmountable limit, a "date magical".
On the currency front, theeuro-dollar it is little moved in area 1,135. In raw materials, gold shines more and more, currently worth 1344,78 dollars an ounce (+0,32%). Even oil, however, does not give up: Brent 67,04 dollars a barrel (+0,89%).
In Piazza Affari we find among the best blue chips Brembo, +5,05%; Pirelli,+3,84%; Juventus, +2,77%; fca, +1,94%; Exor, +1,68%; stm + 1,56%.
Sales penalize Finecobank, -1,4%; Bpm bank, -1,26%; Ferragamo, -0,77%; Saipem, -0,73%; Snam -0,67%.
Slightly up Telecom, +0,3%. Meanwhile Cassa depositi e prestiti has exceeded the threshold of 5% in the company's capital. According to Consob communications on significant shareholdings, CDP holds 5,031% of Tim as direct ownership. The transaction is dated February 18, 2019. The previous communication dates back to April 10, 2018, when CDP held 4,262% of Tim.
Off the main list, the publishing titles shine. It has also been on the rise for days Mediaset +2,71%. In comment, a trader quotes Reuters “the sentence of condemnation of the Court of Rome to Facebook for having published links to protected content following a lawsuit initiated by the Biscione. In a press release Mediaset specifies, however, that the economic impact is minimal for the Cologno Monzese media company”.
