New signs of deflation: in July the price index for industrial production in the euro area fell by 0,1% (-1,1% on an annual basis). The Stock Exchanges bet on the ECB's openings in Thursday's meeting. Meanwhile, the dollar is once again strengthening against the euro. The euro/dollar exchange rate drops to the new low for the year at 1,3115. The Btp/Bund spread drops to 151 bp.
In Milan, the FtseMib index accelerates up by 1,22% to 20.594. The Exchange of Paris advances 0,45%, Frankfurt + 0,9% London + 0,3%. Madrid advances by 0,63%. On the European stock exchanges, the stocks in evidence are those of minerals and raw materials (Stoxx of the sector +1%). Automotive (+0,7%) and Insurance (+0,4%) did well.
It stands out among the four-wheeled world titles Pirelli (+2,5%): Kepler Cheuvreux confirmed the Buy judgment with a target price of 14 euros. Cnh Industrial +0,9%: Sergio Marchionne sold 220 shares, or a portion of the 733,334 shares that had been attributed to him in the stock option plan of April 2012. The average sale price was 6,6559 euros. Fiat (+0,6%) was held back by the negative data on car sales in Italy in August.
Among the oil-related stocks go up Eni (+ 0,8%) and Saipem (+1,2%). In great evidence Tenaris (+2,6%): Ubs has raised its rating to Neutral from Sell, the target price rises to $45 for an Adr (€17,15 per share) from $41 (Adr is a certificate listed on Wall Street which represents two Tenaris shares). Analysts estimate a seamless pipe market growth of 5% annually between now and 2020.
Recover after negative start Luxottica, -0,4% from the initial -2% after the exit of Andrea Guerra: Bank of America downgraded its rating to Neutral from Buy. The stock does not benefit from the recovery of the dollar, the contrary of Rest (+ 2,2%) and World Duty Free (+ 1,8%).
It runs among the titles of luxury Tod’s (+1,8%). Banks go up. Good ideas for Banco Popolare (+1,7%), e Popular Emilia (+ 2%). Unicredit salt of 1,3%, Understanding +1,4%, rebounds Mount Paschi (+1,3%). For insurance: Generali + 1,4% UnipolSai + 0,1%. Telecom Italy drops by 0,1%. Mediaset earn 1,9%.
