european stock markets are positive (follow here the main index), in spite of the closure a slight decline recorded yesterday by Wall Street and this morning from Tokyo. Investors are wondering about the next moves of the us president, Donald Trump, who in the meantime has decided to suspend the commercial treaty of free trade trans-pacific. Not, however, convinced the speech yesterday, during which the successor of Barack Obama has promised a “cut ” massive” taxes for the middle class and businesses. Meanwhile, in Europe, it has been announced that is has improved the manufacturing activity, the Pmi increased to 55,1 points in January. In the morning, moreover, the Supreme Court Engli sh has announced that the Brexit must be approved by Parliament. The verdict immediately made to slide in the pound (the exchange rate with the euro). Milan boasts the best performance of the Old Continent, driven up by the General.
in General, a move anti-climbing: buy the 3% Intesa SanPaolo
all Eyes are on the Lion of Trieste
In Piazza Affari, the insurance company of trieste attracts the attention, especially after the surprise move yesterday, with the group that has purchased a little more than 3% of the share capital of Intesa Sanpaolo, neutralizing, therefore, – by virtue of the rule on cross-shareholdings – any ambitions of climbing on the part of the bank. For the Single Finance Text, when there are cross-holdings, who has exceeded the limit of 3% said it had frozen its voting rights beyond this threshold, and within 12 months must sell the exceeding quota. Intesa Sanpaolo, to win the General, would, therefore, obliged to launch a Takeover bid or an Ops, overcoming the constraint of sterilization of the voting rights.
Equity: in the risiko General, the focus could switch on Mediobanca
For Fairness, the battle could move on Mediobanca
analysts of Equita speculate that the battle may move to this point on Mediobanca, which not the case is super request in the Bag. “The strategic alternative for Understanding – commented the experts – could be represented, according to us, from the purchase of its 8% share of Unicredit in Mediobanca and the subsequent launch of an offer on Mediobanca the same”. Thus, the banking group headed by Carlo Messina would become indirectly the first member of the Generals with 13% and may coagulate a blocking minority in an anti-climb. Experts are pointing the index finger on the dividend of the group led by Carlo Messina, from about 4 billion, that obviously would be at risk.
The risk, the General Understanding to the test of the Bod
Fca on the rise, weak Exor
General, they are also well set for Fiat Chrysler Automobiles , while they lose points for the actions of the shareholder, Exor. Salt the interest Overseas for the meeting on the calendar today between the american president Trump and the heads of the auto manufacturers. They are well set, Stmicroelectronics, and Bper. The latter in the expectation of news on the acquisition of Carife, and also about any mire in respect of the Credito Valtellinese. Tour Bpm is positive, despite yesterday Lysippos, the association of members and pensioners of Bpm, has asked for the annulment of the resolution of the general meeting that approved the merger with Banco Popolare.
Bank General and Zucchi sprint
Outside of the basket the main, are highlights of the Bank General rise of 6%, benefiting from the hypothesis of extraordinary operations on the group the parent company. Highlight the Zucchi.
Euro little moved, sterling weak after the verdict, the Supreme Court
On the currency market, the euro is little moved on the dollar above the threshold of 1,07 (follow here the main exchange). The pound has embarked on the road of decline on the dollar after the Supreme Court English has established that the Brexit is necessary the vote of the Parliament. In practice, the uk Government Theresa May will have to consult the Parliament that must approve the notification of the article 50 of the Treaty of Lisbon for the start of negotiations for the exit from the Eu. The Supreme Court has also excluded any power of veto on the part of the assemblies of Scotland, Wales and Northern Ireland on the Brexit.
The oil, instead, is on the rise (follow here the trend of Brent and Wti). The spread came in the area of 161 points.
manufacturing Activity in k improvement in Europe
Good beginning of the year for economic activity in the Eurozone. Reading the data of the survey, the Pmi of Markit Economics, at the beginning of 2017, the index, the flash manufacturing Pmi increased to 55,1 from 54,9 in December, a record value of 69 months. He slightly lowered the activity of the services so that the composite index for January stood at 54,3 points, a slight decline from eur 54.4 points, December,
(Il Sole 24 Ore Radiocor Plus)
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