European stocks close lower and Wall Street changes pace, after the initial rebound, with oil, which starts selling due to the data on US weekly inventories, climbed more than expected and therefore worse than expected. Brent yields 1,64%, 65,54 dollars a barrel; Wti -1,86%, $61,84. Milan falls by 0,51%, 22.607 points, with oil stocks in the red. The mood of the financials changed, closing mixed; sprint by Ferragamo, 2,21%; sales on Campari -3,28%.
Similar trend for London -0,69%, Madrid -0,6%, Frankfurt -0,44% and Paris -0,44%. Meanwhile inflation slows down in February in the Eurozone, according to Eurostat, going from 1,3% to 1,2%. While in the USA, the second preliminary estimate of GDP for the fourth quarter is in line with expectations (+2,5%). Fears related to the Fed and an acceleration in the rise in interest rates remain in the background, following yesterday's speech in Congress by the new governor Jerome Powell, judged to be more hawkish than expected.
The euro-dollar exchange rate moved little, around 1,22. Stable gold at 1319,725 dollars an ounce. The good intonation of the Italian secondary continues, which closes the fourth positive session in a row before lessons. The 1,98-year yield drops to 131.80% and the spread with the Bund to 0,53 points, -XNUMX%.
In the business square the best big cap of the session is Ferragamo, with investors welcoming the news of a change at the top and the farewell of CEO Eraldo Poletto with the approval of the 2017 financial statements by the board of directors next Thursday. Mediaset still toned, +1,42%; good Telecom +1,09%. Unipol +1,06% and Luxottica +0,78% appreciate.
Second session in a row in the red for Campari, after the 2017 data and 2018 forecasts judged too soft by some operators. Pirelli sells 2,7%; Buzzi -2,07%. Among the stocks linked to oil, the worst is Saipem -2,21%, followed by Tenaris -1,7%. Eni contains the damages, -0,77%. Profit taking on publishing takes place outside the main price list.
At European level, the news from Reuters should be noted, according to which the EU antitrust is preparing to issue a conditional green light to the 62,5 billion dollar offer of the German chemical and pharmaceutical group Bayer for the world's leading seed producer Monsanto.
