by Verità&Affari editorial team
Piazza Affari closes at the top of its class in Europe, again reaching the highest levels since spring 2008, on the day in which two historic Italian business families chose the path to exit the Milanese stock exchange. The Ftse Mib ended trading close to 31,500 points (+0.96%) but overall it was a positive session for European stock markets on the eve of the American inflation data for January and with the support of the records set by Wall Street on Friday evening (S&P500 above 5 thousand points for the first time). Madrid rose by 0.8% as did Zurich, Frankfurt and Paris by half a percentage point, with Amsterdam and London more timid. Retail, luxury, construction and banks are the sectors at the center of purchases.
Run Tod’s Slide Saras
In Milan, Tod’s and Saras stocks were the absolute protagonists following the announcement over the weekend of two share reorganization operations. The shares of the Marche clothing company rose by 18.4%, aligning themselves with the price of 43 euros (43.04 closing) at which the Della Valle brothers and the L Catterton fund will launch the takeover bid for the delisting. Approximately 5.2% of the capital was transacted. On the contrary, the shares of the oil refining group slipped by 3.7%, closing below the price of 1.75 euros (1.728 closing) agreed upon for the transfer of the relative majority from the Moratti family to the Dutch group Vitol. 5.9% of the capital exchanged. On the Ftse Mib, Saipem rebounded (+5.9%) from the June lows and in the wake of the recovery of crude oil which rose by more than 6% in a week. Tim did well (+2.9%).
Oil down
On the currency market, the euro/dollar fell to 1.077 (1.08 this morning and 1.0784 on Friday evening) while operators predict US consumer prices to slow down in January. Oil prices falling with April Brent at 86.6 dollars a barrel and February WTI at 76.6 dollars a barrel. Natural gas down 5% in Amsterdam to 25.7 euros per megawatt hour.
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