Opening of the week in a minor key even if there are some important points. TO Business Square, but not only. It goes into orbit Leonardo +2,45% to a 7-month high. S&P has upgraded its long-term rating (BBB- from BB+) in the belief that margins are on the rise. But what sent the group into orbit was the news that the German Ohb, an aerospace jewel controlled by the Fuchs family, had received a purchase offer from KKr. The stock reacted with an increase of 32%.
Mps flies to Milan
The other important point concerns Mps Bank + 6,9% which accelerates after the conference call of CEO Luigi Lovaglio. In particular, Equita confirms the "hold" opinion on the stock and raises the target price by 3%, bringing it to 3,30 euros compared to the 2,69 euros of the current prices. Lovaglio The CEO of Lovaglio spoke of a bank "on track to exceed the target of 1 billion euro of net profit for the entire year, ahead of the targets in the industrial plan". Among the banks in positive ground, but with fractional gains, too bpm e Unicredit.
The positive notes basically end here. TO Milan at the end of the morning the index worsened around 0,80, in view of the opening of Wall Street ed in line with the other squares of the Old Continent. The data on German industrial production weighs on the lists, down 1,5% in June, the lowest in the last six months, worse than the -0,5% estimated by economists, in May the contraction was 0,2%. He misses out Siemens Energy -5%. The technology supplier to the renewable energy sector has announced that the problems detected in the Siemens wind turbine division Gamesa will cost 2,2 billion euros. The German group also downgraded its full-year estimates.
A Business Square the industrialists lost their shots, starting with Interpump -4,7%, a company well integrated in the German economy, despite a consolidated profit up by 12,2%. Retrace. Cnh Industrial -3% after last week's gains.
Nervous bond markets
Very nervous i bond markets, even if the absence of many investors, typical of the summer season, must be taken into account.
Reuters reports that we are in a context of very low volumes, one week away from the August bank holiday with a low presence of 'real money' investors in favor of hedge funds instead
The yield of BTP rises to 4,29%. Bund at 2,63% +8 basis point. Spread widening slightly to 167 basis points.
Waiting for the opening USA starts again Treasury Notes to 4,11%, +7 basis points.
In the spotlight oil
After Friday's slide, the US indices are seen on the rise. In the spotlight the Petroleum: Brent at 82 dollars. Crude oil prices hover near their highest levels since mid-April after that Saudi Arabia e Russia pledged to extend supply cuts through September Saudi Aramco announced it will raise official selling prices of most grades distributed in Asia in September for the third consecutive month. Russia has stepped up the pressure by announcing a export cut of 300.000 bpd in September.