Uncertain closing for European stock markets, with the Ftse Mib little moved (+0.1%) at 31,732 points. Unipol is flying (+21%) after the announcement of the corporate reorganization operation which involves the launch of a takeover bid on UnipolSai at 2.7 euros per share.
Brunello Cucinelli (+1.8%) and Prysmian (+1.8%) stand out, once again supported by orders for a total of 5 billion obtained from Amprion. Eni is at the bottom (-3.1%) after the results which show a net profit down by 66% to 4.74 billion and an adjusted net profit, i.e. net of non-recurring items, down by 38% to 8, 3 billion.
From the macro agenda came January data on producer prices in the United States, up 0.3% compared to December and 0.9% on an annual basis, more than expected. The University of Michigan’s preliminary confidence survey for February was also released, improving for the third month, with Americans more optimistic about the prospects for the economy and inflation.
Over the next week, attention will focus on ECB indicators relating to wage negotiations, a theme highlighted by several Governing Council members from an inflation perspective. Also on the radar are PMI indices and Fed and ECB minutes, as well as Nvidia’s quarterly report.
On bonds, the BTP-Bund spread further reduced to 147 bp, with the yield on the Italian 10-year bond at 3.88% and that of the Bund at 2.4% while the 10-year US Treasury stood at 4.3%.
Among raw materials, Brent oil exceeds 83 dollars a barrel and is preparing to close its second consecutive week of gains. On Forex the euro/dollar exchange rate stands at 1.077 and the dollar/yen remains above 150.