Waiting for news from the Eurogroup summit stock markets retreat of the Old Continent despite the good macro data.The Milan Stock Exchange is down by 0,11%. Paris loses 0,40%, slightly less Frankfurt -0,37%, Madrid does worse -0,45%. Positive ground London +0,37% and Athens +0,7%. The BTP trend was positive: the spread with the Bund decreased to 124 basis points.
THEComposite PMI index elaborated by Markit on the basis of the expectations of purchasing managers of industrial and service companies in the euro area, it rose to 53,5 in February from 52,6 in January, the consensus was expecting 53. In Italy, the orders to industry rose by 4,5% in December compared to -0,8% in November, returning to the level of January 2014. The euro weakens on the dollar for the third consecutive day to 1,131 from 1,136.
Continue to Piazza Affari la “fever” for Monte Paschi +5,03% at 0,59 euro. The French insurance company Axa says it is ready to subscribe to the capital increase, a strengthening operation that could reach up to 3 billion euros. Axa has 3,7% of the bank.
Between banks, Unicredit loses 0,1%, Intesa 0,5%.
Minutes away from the summit meeting with analysts Telecom Italia drops by 2%. The 2014 results weigh heavily, judged disappointing but even more so the orientation of the board of directors to pay the dividend only for savings shares. A final decision will be taken at the meeting on 19 March. The year closed with consolidated revenues of 21,6 billion (-7,8%). Ebitda, equal to 7,9 billion, also decreased (-8,8%). Indebtedness of 156 billion has fallen, albeit by only 26,6 million. The strategic plan 2015-2017 of Telecom Italia plans investments in Italy for approximately 10 billion euros, of which 5 dedicated exclusively to the innovative component (Ngn, Lte, Cloud Computing, Data Center, Sparkle and Transformation). At the end of the period, Telecom will reach 75% of the population with optical fiber and over 95% of the population with a 4G mobile network. The company delle Torri will be listed.
Telecom Italy Media loses 2% after the resolution on the merger: the market is disappointed because the operation will only take place "card against card" without cash outlay.
The petroleum type Brent it moved little at 60,4 dollars a barrel. Eni shares unchanged: Crédit Suisse brought the recommendation to Neutral from Underperform, the target price is 16 euros. Saipem earn 0,5%. Sales keep pouring in Tenaris – 2,5%, following the presentation of the 2014 data, Exane cut the recommendation to Neutral from Underperform, target price at 13 euros.
