The banking carousel pushes upwards Business Square which, however, at the end of the morning, after a day characterized by high volatility, slows down and fluctuates uncertainly just above parity (+0,10%) ending up in negative territory for a short period. The others also remain in positive territory European stock exchanges despite the difficult economic situation: Paris +0,36%, London +0,25%, Frankfurt +0,68%.
The rating agency S&P he noted that the risks of a third recession in the Eurozone "have increased" and that as we approach 2015 the recovery "has lost a lot of momentum". At the same time the ECB, in its monthly bulletin released today, it cut its growth estimates to +0,8% for 2014 (from the previous +1%), +1,2% for 2015 (from 1,5%) and +1,5 % for the following year (from 1,7%). A weakness in the recovery that will allow a very slow reduction in unemployment. The estimates of the Frankfurt economists indicate a drop below 10% only in 2019, to 9,5% and in any case revised upwards from the previous 9,4%.
The Eurotower expects the operations of credit easing implemented so far bring its budget back towards the levels of the beginning of 2012. However, "should it become necessary" the Governing Council "is unanimous in its commitment to resort to further unconventional tools within the framework of its mandate".
They are affected by concerns about growth, particularly that of China, the Asian bags: Shanghai closed down 0,36% and Shenzhen lost 1,46 percent. In China today data on industrial production and retail sales confirmed Beijing's slowdown. The exception is Hong Kong: +0,34%. The Tokyo Stock Exchange, on the other hand, updated the highs of the last 7 years, rising by 1,14% on the hypothesis of postponing the VAT hike and on the hypothesis that Shinzo Abe could call elections by the end of the year to restore strength to the leadership of he.
In this context, expectations also worsen: l'ifo index on the world economy is expected to drop to 95 points in the fourth quarter, from 105 in the previous quarter, the lowest level since the third quarter of 2013. If, explains the Ifo, assessments on the actual economic situation have deteriorated only slightly, expectations have deteriorated markedly.
For Petroleum is still bearish with the Brent which fell below the dollars 80 for the first time since September 2010. We look at the data on US inventories which will be made public during the day in anticipation of the OPEC summit on 27 November: Saudi Arabia has not made any commitments to cut production, in an attempt to push prices to downward to put American shale oil out of business. Also on the agenda among market movers are the weekly jobless claims and tonight's Fed Governor Janet Yellen's speech. L'Btp auction recorded a good result: the Treasury placed 6 billion in three-, seven- and fifteen-year debt, recording the new low since the introduction of the euro on fifteen-year bonds but with the three-year rate at its highest since July (+0,77. XNUMX%).
Le banks they recover: Mps +4,02% following the accounts, Bpm +2,06% which benefits from speculation on a possible merger with Banca Carige through the entry of the Genoese institution in Piazza Meda through a reserved capital increase. Carige +3,49%. Ubi +0,65%, Unicredit +0,39%. But not all the sector moves with the same harmony. Banco Popolare -0,46%, Intesa -0,09% down.
In evidence on the Ftse Mib also Moncler +2,27%, Autogrill +1,99% and Gtech +1,9%. At the bottom of blue chips Tod's -5,88% after the quarterly and after some negative assessments by analysts. Enel -1,62%, Saipem, -1,48%, Finmeccanica -0,76%, Enel Green Power -0,7%.
