A week feeble start for European stocks, orphan of Wall Street, closed today on the occasion of Labour Day. Milan Stock Exchange, after reaching an intraday high at 17,333 points, it closed at an altitude of 17,190 points, an increase of 0, 04%. Paris also positive (+ 0.1%) and Madrid (+ 0.5%), minus sign to London (-0.1%) and Frankfurt (-0.1%).
Investors who seem to already projected to Mario Draghi press conference to be held next Thursday. According to Vincent Longo, strategist at IG, “the number one of the ECB, which will also announce the new estimates of GDP and inflation, should not radically change the current monetary policy. Among the hypotheses being considered by the Institute of Frankfurt remain the extension of q, whose deadline is now March 2017. just 6 months after expiry, Draghi could announce a postponement of six months (until September 2017). “
More oriented to a position of ‘wait ‘Eurotower, however, the strategist at JP Morgan under which the Institute will probably wait until December before extending its Qe program. Experts therefore expect “only strong” statements regarding the achievement of inflation to 2% and the scarcity of bonds to be purchased under QE, “while on the details will be decided at a later time.”
in Milan concluded countered the financial sector on which this morning is the Bank of America Merrill Lynch analysts are concentrated, according to which, despite the sector is sailing ‘in troubled waters “, the shares still have potential upside. In detail, the investment bank has restarted coverage on thiol Banco Popolare 
(+ 4.8%) with a buy rating and target price to 3.4 euro, Tour that today has become the protagonist of a session for dusting along with BPM (+ 2.5%), waiting for the warm period that will define marriage of the two institutions.
also buy recommendation on Intesa Sanpaolo 
(-0.5%) with target price raised from 2.5 to 2.8 euro in view of ample liquidity, good capital position and a cheaper cost of funding compared to other lenders. To be worth the buy rating and target price rise of 7.5 to 8.7 euro for Mediobanca (+ 0.2%) were, however, revenues, which remained relatively stable over the last five years. Bucking Ubi Banca (+ 0.2%), of which BofA has filed the target price from 2.9 to 2.8 euro, defining the objectives of the plan “ambitious.”
also Eyes on Unicredit (-0.6%), the title which the US broker reiterated neutral rating but raised its target price from 2.3 to 2.9 euro, arguing that “a new strategy, if done correctly, could improve the profitability of the bank “significantly. In particular, BofA has stressed that the transfer of certain assets, both in order to reduce the amount of the recapitalization is possible to increase the coverage of non-performing loans, it would be very positive cues offer of appreciation on the stock. similar vision for Mediobanca Securities (neutral rating), although analysts have pointed to prefer a greater injection of capital to the sale of the crown jewels that could be detrimental to the long-term history of the group.
Weak industrial sector, with Leonardo-Finmeccanica (+ 0.2%) slightly move despite the good judgment received by Goldman Sachs, which confirmed the buy recommendation and raised its target price from 11.2 to 12.2 € , and the news of a possible new contract with Qatar for the supply of missiles. Among the worst titles: Cir (-2.6%), Buzzi Unicem (-2.2%) and Piaggio (-1.7%). In sharp contrast Astaldi (+ 3.4%), which accelerated in the final after the news of signing the contract for the construction of Lot “Mules 2-3″ of the Brenner Base Tunnel, worth about 1 billion euro , of which 42.51% stake in the group.
of note Row (+ 3.1%), supported by Imi Bank judgment (buy) that cut the target price from 16.8 to 15 euro, not changing, however, the positive view on the company that demonstrates “a solid growth trend and synergies that have yet to be fully exploited, not counting the possibility of further M & amp operations; a”. Out of the blue chips, strong purchases of Sogefi which has posted a + 5.5%.
Especially hot, today, the industry oil & amp; gas, with the exchanges that have been driven by rumors about possible OPEC moves and news from China, where Russia and Saudi Arabia have signed an agreement where undertake to cooperate for stability of the market. However, the production freeze does not seem to be a hypothesis that convinces experts ,. If on the one hand, as reported by a member of the oil cartel, Iran would remain a major obstacle to the achievement of any agreement, the other from Capital Economics analysts believe it “unlikely” the applicability of any intervention . “Even if the oil producers countries were able to reach an agreement, all would result in maintaining the oversupply. In fact, the production of most OPEC members, such as Russia, is already at record levels and the spare capacity of these countries is very low “, have pointed out the experts.
Meanwhile, crude prices have been pushed higher, with Brent at 17:30 traded at $ 47.49 per barrel (+ 1.4%) and WTI to $ 45.01 per barrel (+ 2.3%), values that also dragged the titles of the Milan Stock Exchange: Saipem has gained 1.4%, Tenaris 0.8%, Eni 0.8% and Snam 0.3%.
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