Afternoon marked by increases in the Stock Exchanges, in the wake of Shanghai's gains awaiting government stimuli and the "big coup" of Warren Buffet, who bought control of Precision Castparts with an offer of 37,2 billion dollars , a space component company. TO Wall Street the Dow Jones index rose, marking +1,24%. S&P 500 +1,12%, Nasdaq +0,91%.
The Exchange of Milano, in the wake of the New York market, closed the session up: Ftse Mib index +1,1%, at 23966 points. The Mediobanca report confirms the recovery of Italian manufacturing activity, driven by the automotive and fashion sectors. Paris gained 0,7%, Frankfurt 0,9% and London 0,2% unchanged. The increase was led by technology companies (Stoxx +1,3%), construction companies (Stoxx +1,1%) and commodity companies (Stoxx +1,4%).
Euro to $1,098 from $1,096 at Friday's close. construction sector at 1,83% (-2 basis points). The Btp/Bund spread is at 113. The gap between German bonds and those of Athens: -70 basis points at 1.000. The market is thus betting on an agreement between creditors and Greece.
Among the banks, the rally of the stands out Banco Popolare (+3,5%). Ubs awarded data for the quarter, published on Friday evening. Twin hikes for the credit bigs, both promoted by Nomura: Intesa Sanpaolo +1,4% (target price at 2,90 euro from 2,60 euro, Neutral opinion), Unicredit +1,4% (tp to 7,10 euros from 6,50 euros, Buy recommendation). Where's Banca + 0,5% MontePaschi+1,2%, included in Exane's list of "preferred stocks" (private target at 2,7 euros).
Up too Generali (+ 1,5%) and Mediolanum (+1,2%). Industrialists also rise: St Microelectronics + 1,4% Fiat Chrysler + 1% Prysmian + 1,8% Finmeccanica + 0,6%. Mediaset +0,7% and Telecom Italy + 0,4%.
After reaching new lows, crude oil prices rebound (but Brent remains below 50 dollars). Eni closed up 0,5%, Tenaris of 3,3%. Saras gains 7,3%, the highest since 2010. Nomura has raised the target price to 2,5 euros from 2,0 euros, confirming the Buy rating. Kepler Cheuvreux brought the target to 2,70 euros from 2,25 euros. Finally, Barclays brought it down to 3 euros from 2,20 euros.
Leap forward even by Astaldi (+3,3%) and new historical record. Abertis has signed an exclusive agreement for the possible purchase of A4 Holding, which controls the Italian motorways A4 (Brescia-Padova) and A31 (Vicenza-Piovene-Rocchette). Among the partners there is also the construction group.
