The ECB bulletin certifies the improvement of the economic situation in the Eurozone. L'Italian PMI services index accelerates to 56,5 points, the best figure in the last 11 years. The announcement of the imminent return of the Unicredit dividend completes a trio of favorable news which offsets the effect of the euro's extension on the dollar.
In the middle of the day Milano it therefore advances by 0,5%, in addition to 21.600 points. Up too Paris (+0,3%). In red Frankfurt e London (-0,1%). Madrid (-0,35%). This way the index FtseMib (+12,5% since the beginning of the year) outstrips the Ibex of Madrid (+12,1%) and ranks in first place among the indices in Europe and among the best in the world.
THEeconomy of the eurozone continues to grow at a rapid pace and will maintain this pace also in the next quarter. The affirms it ECB in the monthly bulletin: “The generalized and consolidated economic expansion continues in the euro area, driven by domestic demand. GDP - says the ECB - continued to rise in the first quarter of 2017 compared to the previous one driven by the improvement in domestic demand and, to a lesser extent, by changes in inventories". The most recent economic indicators, adds the Eurotower, remain "favorable and point to strong and sustained growth in the second quarter of 2017, at a rate substantially equal to that of the previous two quarters".
Il dollar remains weak: euro-dollar exchange rate at 1,1841, yesterday it reached the highest level since January 2015 at 1,191. The Petroleum Brent rose 0,3% to 52,54 dollars. Last week, US oil inventories fell by 1,5 million barrels: the consensus expected a more pronounced drop, -3 million, but demand for gasoline has reached record levels. Eni loses 0,5%. Thud of Tenaris, down 5% after the accounts for the quarter.
In the limelight of Piazza Affari shopping on Unicredit: +5% later quarterly accounts. The bank closed the first half with a net profit of 1,853 billion euros, up 40,2% compared to the same period last year. The result clearly beat Banca Imi's estimates for 1,422 billion euro. The CEO of the group, Jean Pierre Mustier, anticipated that he intends to pay "a cash dividend in 2017 and 2018 and that we will propose the distribution to shareholders of 20% of the bank's net profit". Last year, in anticipation of the 13 billion euro capital increase, the Bank had not detached the coupon.
Among other banks, Understanding -0,9% Bpm bank + 0,44%. Generali -0,7%. Down too Poste Italiane (-2,2%).
Take off between the small caps Bologna Airport (+10,5%, to 15,58 euros) after the announcement that Atlantia has reached an agreement to acquire 29,38% at 15,5 euros per share, equal to a total amount of 164,5 million. But there will be no takeover bid.
Prelios also rose (+3%). A note this morning informs that Burlington has increased the purchase price by 44,86%, bringing it to 0,116 euros per share, from 0,1050 euros in the previous offer.
In great recovery Ferrari (+2,12%) after yesterday's losses. Fiat Chrysler earn half a point. Down Telecom Italy (-0,8%). In addition to the government's decision to check if they exist the conditions for exercising the golden power after Vivendi's latest moves, the company's intention to Sky Italy to launch a broadband service on the Open Fiber infrastructure.
"Sky's potential move appears to be a substantial threat," Banca Akros analysts warned, explaining that according to Bloomberg, an agreement with Open Fiber could be signed next October and that the retail service could be launched in the first quarter of 2018.
Enel loses 0,2%, Snam -1%. In sharp decline Campari (-5%): the group closed the first half with an adjusted net profit of 93,5 million (+21,1%) and an operating margin downsizing to 19,3% from 19,7%, against organic sales growth of 6,8% to 844,7 million, in line with expectations.
