Day of highs and lows for the Ftse Mib index, after reaching an intraday high at 19.810 points has closed to 19.574 points, limiting the rise to 0,04%. Worst only Frankfurt (-0,14%), while they kept a steady operation Paris (+0,4%), London (+0,44%) and Madrid (+0,78%). The spread Btp/Bund has closed the session in the enlargement 159,875 basis points compared to the 154,717 of the closure yesterday.
In the evening you went back to talking about the number one economic institute and the German Ifo, Clemens Fuest, according to which the european central Bank should end the program of purchases of bonds if the reading of German inflation, was stronger than expected, is reflected in the rest of the euro area. Consumer prices in Germany, harmonised for comparison with other european Countries, in December rose by 1.7% on an annual basis, after an increase of 0.7% in November.
“This leap in inflation is a signal for the exit from the expansionary monetary policy of the Ecb,” said Fuest in the Frankfurter Allgemeine Zeitung. “If these figures are confirmed in the euro area as a whole, the Ecb should end the program of buying bonds in march 2017″. The data on inflation in the euro area to December, are on the agenda tomorrow, with expectations, according to a poll by Reuters, a reading of 1%.
Meanwhile, in the month of December, the european central Bank and the Bank of Italy, have purchased securities of the Italian public sector for the total of 9,417 billion euro, a decrease compared to 11,707 billion in November. This much is clear from the monthly data on the Qe provided by the Frankfurt, bringing the total number of the securities of the Italian public sector purchased from the beginning of the program to 209,605 billion. The average residual life of the portfolio goes to 8,92 years from 8,95 to the end of November.
with regard To the euro area as a whole, at the end of December the portfolio of public sector securities amounted to 1.254,635 billion, compared to 1.204,362 in the previous month. The programme to purchase covered bonds rose to 203,516 billion (202,734 billion); that of Abs 22,830 billion (22,514 billion). In addition, at the end of December the portfolio of corporate bonds held by the Eurosystem has brought 51,069 billion (13,57%, purchased on the primary market and the 86,43% on the secondary), compared to 47,180 billion in November. The total amount of purchases of securities in the euro area carried out last month by the Eurosystem, therefore, was $ 60,760 billion.
At Piazza Affari has confirmed the performance of yesterday’s Tour Bpm (+7,2%), which has driven the banking sector: Ubi Banca has gained 4.38 per cent, Bper 3.8%, Mediobanca of 2.9%, Intesa 2.29% and Unicredit 0.14%.
In the financial sector in the sweep Azimuth (+5,02%) and Banca Generali (+4,38%). Mediobanca Securities, recalled that from the first of January, 2018 will start the exchange of tax information between Switzerland and other Countries to the effect of the new rules approved in 2014 by the Oecd against tax evasion. Experts have said they see an opportunity in this scenario to the society for the collection and management of assets with a strong presence in private banking. In particular, for Banca Generali that you may consider the opening of an office of the swiss in the medium term.
Among the industrial dusting Fiat Chrysler Automobiles (up 2.9%), the highest level since the October 2015 following the publication of the data concerning the registrations of last year. Well even Astaldi (+4,32%) and Fincantieri (+4,13%). In loss Sias (-4,99%), Luxottica (-2,71%) and Mediaset (-1,25%). In suffering the sector of utilities: the Triad, has sold 2.3%, Italgas , 1.47%, Snam 1,31% and E nel 1.28%.
Day volatile for the price of oil, that after having realized increases over the 2% has retreated, with Brent that at 17:30 in exchange for a 56,34 dollars per barrel (-0,84%) and Wti to 53,27 dollar per barrel (-0,84%). This morning Moody’s has provided quotations still warm for the crude oil in 2017, expecting another year of volatility, with fluctuations within the range between 40 and 60 dollars per barrel. The agency has also said to expect an increase in the activity of M&A in the field of oil&gas in North America, where with the presidency, Trump is in view of a policy focused on developing domestic and on deregulation.
“we foresee three possible scenarios for oil prices in 2017, and each will have a different impact on the rating of the companies in the industry, said Steve Wood, managing director of Moody’s. If the price falls in the low us $ 40, would again stress for the sector, while prices between 45 and 50 dollars would continue to give some support to the producers of crude oil. Finally, a level about 55 dollars, according to Moody’s this could lead to “more positive action on the ratings of companies in integrated and exploration and production”.
Among the listed securities on the Italian Stock exchange, Saipem has gained 2.06 percent and Maire Tecnimont 1.25%. Today Equita, commenting on the developments of the investments of the iranian sector, reported, “after the election to Trump the visibility is still low on the resumption, the actual investment in Iran in the short term”. However, continued sim, “over the longer term, we believe that it is Saipem Maire are well-positioned to capture new contracts in the area.” Both have signed the MoU, Saipem for about 5 billion euros and Maire for 1 billion, for possib le collaborations on projects related to pipelines, refineries, and petrochemical complexes.
Tenaris has lost 0.41%, while Eni 0.06%. The six-legged Dog has announced the discontinued production of the oil field Goliat in the arctic area of Norway on the 26th of December last, due to a fault. The production will be stopped until the repairs are completed, because the storage tanks are full. The work will be carried out as soon as weather conditions permit, said a spokesman for Eni , adding that everything will take some days.
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