Rising stock markets are already watching with attention (and hope) for indications that could arrive on Tuesday afternoon from Christine Lagarde and, an hour later, from Fed chairman Richard Powell. Piazza Affari +0,60% rises above 24.600, close to the highest level since 2008. The other price lists are also positive: Paris +0,4%, Madrid +0,3%. More tonic Frankfurt and London +0,8%. The euro/dollar exchange rate is at 1,09143 pending the presentation of the annual report in Frankfurt. The European Central Institute's inflation target could be changed by July as part of the broad strategic review envisaged by Bloomberg.
Jerome Powell, on the other hand, will speak before the Congressional Financial Services Committee on the monetary policy report. It could be an opportunity to announce financial relief measures against the epidemic. The numbers on the spread of the disease are interpreted by the markets as an anticipation of the arrival of new aid and monetary stimulus from central banks. In China there were 108 coronavirus deaths yesterday, a surge that brings the total deaths to 1.018. The sick have risen to 42.638, from 40.170 yesterday.
Il Brent oil rebounds after -2,2% yesterday, at 54,0 dollars a barrel (+1,5%). Bloomberg reports that the large wholesale oil operators are trying to solve the problem of the surplus caused by the collapse in Chinese demand, by leasing super tankers to temporarily park the crude. Gold is losing strength, after four consecutive days of uptrend: -0,2% to 1.568 dollars an ounce.
The race for long titles continues. Orders for the BTP maturing March 1, 2036 launched on Tuesday by the Ministry of the Economy through a syndicate of banks exceeded 48 billion euros, with the yield set at five basis points higher than the March 2035 BTP, down from the nine initial points, then reduced to seven. The Btp-Bund spread travels at 135 basis points. In the basket of European blue chips, there is +4% of Deutsche Telekom: Reuters reports that it is about to come from a US judge, iThe green light for the merger between Sprint and T-Mobile.
The title is clearly visible in Milan Ubi +2,6% in the sixth acceleration session and best bank on our list. The Italian bank index is +1% and the Eurostoxx Bank is +0,7%
La bank communicated the accounts on Monday evening. It closed 2019 with a net profit of 251,2 million, down from 425,6 million in 2018 due to taxation. The BoD proposed the distribution of a dividend of €0,13 per share, up by 8,3% compared to 2018 (€0,12).
Skid FinecoBank after the accounts (-0,9% at 11,5 euros) after the quarterly accounts and an upward start. 2019 closes with a net profit up 19,5% to 288,4 million, also including 22 million in tax benefits linked to the recognition of the patent box. The dividend proposed to shareholders is 32 cents per share. Banca Generali +0,5%. the day after publication of quarterly dataand, Deutsche Bank marginally adjusts the target price.
Sale Stm+1% towed by the Austrian AMS, active in the semiconductor industry, which communicated data for the quarter higher than expected, even the targets better than expected. In the spotlight Moncler -2,7%, which closed the fourth quarter with results penalized by the demonstrations in Hong Kong, but rebalanced by the excellent results, in terms of sales, in Europe and the Americas. The company said 2020 got off to a very good start, before the fall, caused by the epidemic in central China. Chief Financial Officer Luciano Santel warned that the impact on business was "very serious". The company also announced, along with the data, the introduction of the increased voting system, which would bring the managing director Remo Ruffini to 29,9% of the capital, from the current 22%. Société Générale cuts the judgment to Hold, from Buy. Deutsche Bank cuts the target price to 37,5 euros, from 38,5 euros. Salvatore Ferragamo -1,8%.
Kepler Cheuvreux has taken a stand on some utilities. Irene +1,7%: the target price rises to 3,5 euros, from 3 euros. A2A +1,4%: the target price rises to 2 euros, from 1,6 euros. Acea -0,7%: target raised to 22 euros, two euros more than the previous one. Hera -0,4%, target at 4 euros, from 3,80 euros. AscoPiave -1,7%: Judgment drops to Hold.
Pirelli -0,4%. Michelin closes 2019 with slightly better results than expected, but only in terms of revenues. Forecasts for 2020 are disappointing, the year should close with an operating profit, flat at best, while the consensus expected a 3% increase. Fiat-Chrysler +1%. Ferraris +1,3%. CNH Industrial +1%.
