Bags, Tokyo rising 2% Down China (-2%) for given industry – BBC

MARKET

Milan , February 1, 2016 – 08:22

Milan Stock Exchange opened the first session of February, after a troubled January, positively and continue draw. It is banks, struggling in recent weeks, to show strong increases. While collapses Luxottica, after the announcement of the reorganization: first lost 7% and then is suspended for excessive downward and is then readmitted but leaves on the carpet more than 8% of its value. The FTSE MIB salt of 0.25% and also the other European exchanges, for the moment, have a slightly positive. In light of the title of MPS (+ 3.7%) at the weekend Treasury and Post Office have denied the possibility of an operation with Post Bank. Also in the rooms much credit Banco Popolare (+ 6.3%) because the market believes in the possibility that marriage with the BPM can get quickly. Ben also buy Ubi (+ 3.2%) and Unicredit (+ 3.15%). Among the non-financial securities purchases on Prysmian has won a new order worth around 250 million euro. While sales did not spare Luxottica after the new turnaround at the head of the group with the departure of one of the two managing directors, Adil Mehboob-Khan announced Friday by Leonardo Del Vecchio, on the occasion of the presentation of the accounts. Saipem down (-1.14%) and also Telecom (-1.76%). For securities we report not only small movements of Ansaldo Sts (-0.20% to EUR 9.84 and above the price of Opa) with the fund Elliott indicated that the non-acceptance of the offer of EUR 9.50 per share launched by Hitachi.

The boom in Tokyo

The world market is started with a closed sharply higher for the Tokyo Stock Exchange after the decision of the Bank Central (BOJ) to cut rates. Even the Australian Stock Exchange benefited from the Tokyo. Less bright the situation in China: the benchmark Shanghai has finished falling by almost two percentage points due to macroeconomic data that has depressed markets. Chinese manufacturing companies continue to report a deterioration of the operating conditions at the beginning of 2016, but at a pace of contraction slowed compared to December. The survey data indicate Markit. Caixin The PMI index rose to 48.4 in January from 48.2 in December. Below the value 50, the ‘index indicates a contraction of the sector, while above this threshold indicates an expansion.

The Chinese data

The Chinese economy grew by 6.9% in 2015, the lowest growth rate in 25 years. The government is considering measures to renew the industrial infrastructure of the country, beginning with the elimination of unproductive state-owned companies, and a new stimulus to support the economy. It remains positive, however, the result of the service sector, which in January has reached 53.5, versus 54.4 in December, when it reached the highest levels of the last sixteen months.

The story of Luxottica

The title of the group weighs the eyewear ‘exit of the CEO Adil Khan and the operating return of the founder. The president and founder Leonardo Del Vecchio, took on all the powers on dividing markets and became executive chairman. The move did not please the markets: the title at the opening this morning has given 6.52% to € 53.8 after scoring a minimum of 53.6 euro. In mid-session as investors continued to sell the stock of the corporation of the glasses, which the stock exchange has come to yield up to 8% of its value. Sustained volumes for the title, in the turmoil marked by the Milan stock in January, she was able to substantially maintain its value. If on the occasion of farewell by Andrea Guerra half a year ago the market had continued to give confidence to the owner of the group, this time has decided to bet on the downward Luxottica. The stock market does not like uncertainty. With the release of Kahn is looming in fact another phase bridge to a new arrangement that clearly investors do not yet understand.

The forecasts

Friday, after the presentation of the accounts

, analysts predicted strong volatility on the stock after the new change at the top of the , although the perception of Khan output is less dramatic from the industrial point of view of when he left the historian CEO War. Also weighing on the behavior of the operators of this morning on the Milan Stock may have been also the considerations of analysts of banks and asset managers on the high valuation of the stock compared with sales in 2015 (also be provided Friday) in line with or slightly lower than expected and a 2016 which, as already mentioned in recent months, probably will not respect the so-called rule of thumb , that earnings growth is twice the sales staff.

1 February 2016 (edited February 1, 2016 | 11:29)

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