Final Piazza Affari +0.1%, Unipol takes off (+21%)

Uncertain conclusion for the European stock markets, the Ftse Mib barely moved (+0.1%) at 31,732 points. Unipol is booming (+21%) after the announcement of corporate restructuring, which includes the launch of a takeover offer for UnipolSai at 2.7 euros per share.

Particularly notable are Brunello Cucinelli (+1.8%) and Prysmian (+1.8%), which in turn are supported by orders totaling 5 billion from Amprion. Eni is at the bottom (-3.1%) after results showed net profit down 66% to 4.74 billion and adjusted net profit, ie net of one-off items, down 38% to 8.3 billion.

On the macroeconomic agenda was January data on producer prices in the United States, which rose 0.3% compared to December and 0.9% on an annual basis, more than expected. Additionally, the University of Michigan’s preliminary confidence survey for February was released, improving for a third month, with Americans more optimistic about the outlook for the economy and inflation.

Next week, attention will focus on ECB indicators related to wage negotiations, a topic 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.

In bonds, the BTP Bund spread narrowed further to 147 basis points, with the Italian 10-year bond yield at 3.88% and the Bund yield at 2.4%, while the US 10-year Treasury bond yielded at 4 .3%.

Among commodities, Brent oil topped $83 a barrel, preparing to close with gains for the second straight week. In the foreign exchange market, the Euro/Dollar exchange rate is at 1.077 and the Dollar/Yen remains above 150.