Piazza Affari dominates the scene and closes at +1,2%, again over the psychological threshold of 19.000 points (19.116), with Intesa San Paolo in great shape, followed by Eni, Telecom and Ferrari. Milan is in the pink jersey, but the other European markets are also experiencing a positive day: London +0,67%; Paris +0,65%; Madrid +0,6%; Frankfurt +0,2%.
Wall Street, in turn, regains confidence and the Dow Jones grabs and well exceeds 20.000 points. The three main American stock exchanges benefited, at the start, from the data on employment (places increased more than expected although the unemployment rate rose to 4,8%). The intonation is therefore positive even in the middle of the day, despite the fact that growth in the non-manufacturing sector recorded a fractional slowdown last month, disappointing analysts' expectations.
The euro-dollar ratio still floats around 1,8 (1,078), oil appreciates +0,69% and rises to 56,95 dollars a barrel. Gold rose slightly: +0,34%, over 1220 dollars an ounce.
In Piazza Affari, Intesa shines first, +2,66%, after the accounts in order and the words of CEO Carlo Messina on the Generali operation (+0,27%). “Shareholders – he says – will be the number one priority in defining any growth strategy”. The bank will take "all the time necessary for a complete and solid assessment" before deciding whether to proceed with integration with the Trieste Lion. In fact, each acquisition must be "neutral" on capital, "in line" with the objectives of creating value for the shareholders and must adapt "well" to the "strategic priorities included in the plan". The commitment to distribute at least 3,4 billion in cash dividends on 2017 also applies in the event of "any potential M&A transaction".
Positive session also for other banks, such as Bper +2,41% and Banco Bpm +1,66%. On the other hand, the other national banking giant is swinging, engaged in a great job of relaunching that passes through the 13 billion capital increase: Unicredit, on which at a certain point it rains purchases that bring it over 3%, but then it stops completely flat. For the recapitalization, the total amount of expenses is "500 million maximum, including consultancy fees, out-of-pocket expenses and guarantee commissions calculated to the maximum extent", reads the Summary Note.
Telecom +2,57%: the session is brilliant also due to the results of the Brazilian subsidiary exceeding analysts' expectations. Effervescent oil companies, led by Eni +2,61%; Saipem +1,72%; Tenaris, +0,74%.
Ferrari remains on the shields +2,09%. Campari takes off, +1,43%, following the agreement to acquire Bulldog London Dry Gin, the company that owns the independent brand of the same name. Ferragamo did well, +1,56%, after the presentation of the new strategic plan, which aims at an increase in turnover in the medium term equal to about twice that of the market and at an improvement in margins, with brand, innovation and product creativity, strengthening the 'customer experience' and developing specific retail skills. Atlantia effervescent +1,73%.
Negative session for Moncler, -1,12%, after the weakness shown yesterday and despite the fact that luxury is tonic.
On bonds: Italian-German 1,55-year spread recovering, +183.60%, 2,26, yield 2%. On the horizon next week, among other things, Moody's pronouncement on the sovereign rating stands out; a negative outlook hangs over the rating 'BaaXNUMX'.
In the meantime, President Paolo Gentiloni has confidence in the positive conclusion of the negotiations underway with Brussels and believes that Italy does not run the risk of an infringement procedure.
Finally, crunches on the Brexti front and its consequences: according to Hessian Finance Minister Thomas Schaefer, in light of the choice of the British, Deutsche Boerse and the post-merger London Stock Exchange should have their headquarters in Frankfurt and not in London.
