The Tokyo Stock Exchange slows down (-1,36%), after six positive sessions. The other Asian markets are uncertain awaiting the "hottest" appointment of the week: the data on US employment which will be announced in the afternoon, the latest confirmation that the Fed is waiting before deciding whether or not to cut the purchases envisaged by Quantitative Easing .
Even Wall Street, slightly up, closed a waiting session: Dow Jones +0,04%, S&P 500 +0,12%, Nasdaq +0,27%. The European stock exchanges were more positive after Mario Draghi's reassurances on the cost of money: Frankfurt closed up by 0,48%, Paris by 0,7% and Madrid by 0,6%. The Milan Stock Exchange, despite the political tensions, rose by 0,8%.
VOLANO T BOND AND BUND, BTP AT 4,51%
There is therefore an air of tapering in the USA. The economy sends comforting signals; the service index returns to 2005 level, Ford predicts that in the next few years auto sales will exceed the 17 million mark, the all-time high.
In Frankfurt, meanwhile, the ECB guarantees that it will leave rates low for a long period of time. Mario Draghi, however, is forced to warn the markets against optimism: the recovery is still "green". But Germany is pawing. Tonight came another positive signal on the health of the German locomotive: Moody's promoted the outlook of the banking system from "negative" to stable.
Against this background, today's attention will be focused on the US employment data, the latest confirmation that the Fed is waiting before deciding whether or not to cut the purchases envisaged by Quantitative Easing.
Meanwhile, the bond market has already opened a new chapter, both in the US and, disobeying Draghi's indications, in Europe. In the USA, the 9-year bond gained 3 basis points, coming close to 2011%. For the first time since June 0,5, the two-year bond rises above XNUMX%.
The German bund future collapsed to 138,5, the lowest since September 2012, but the most sensational news is that the German ten-year yield rose to 2,04% (+11 basis points), above the psychological threshold by 2% for the first time since March 2012. It was around 1,2% in May.
Rates rise throughout Europe and the yield of the BTP rises to 4,51% (+10 basis points). Consequently, nothing happens to the spread, which is stuck at 247 basis points. The euro depreciated against the dollar to 1,312 from 1,320.
RETURN AIR FOR INDESIT. NOMURA PUNISHES SAIPEM
At Piazza Affari the flight of Telecom Italia continues +8,4% in the finale. In the afternoon, the Mexican America Movil denied having consulted some important shareholders of the financial company that controls the telephone company, the statements did not cool the hottest title of the Milan Stock Exchange in the last two weeks.
Atlantia +3,7% thanks to the push of Bank of America Merrill Lynch which raised the judgment to "buy" from "underperform", the target price rises to 16 euros. the company communicated that in July-August, traffic on the motorway network under management fell by 0,9% year on year. Autogrill earns 1%.
Among the industrialists. Finmeccanica +1,3%, Ansaldo Sts +2,7%,Stm +1,9%. Highlight the cement workers. Buzzi +2,9%, Cementir +3,7% and Italcementi +2,2%. Fiat -0,8%, was penalized by the risk of a delay in the negotiations with Veba, Chrysler's minority shareholder. Pirelli +3,2%. Contrast the banks and financial companies: Unicredit +0,6%, Intesa +0,5%, Ubi Banca -0,6%, Generali +0,7%. Banco Popolare +0,6%.
Azimut +1,3% and Mediolanum +0,2% on the day of the publication of the August data on asset management collections. Fondiaria Sai +1,7%. Enel -0,2%, Snam +0,3%, Acea -2% placed bonds for 600 million euro on the market, against a request for 4 billion.
Saipem-1,5%. Nomura reduced the rating on the stock from neutral to reduced, lowering the target price from 18 to 13 euros. Experts are suspicious of the contracts signed in 2011 in Brazil, whose unsuitable conditions could lead to a profit warning of 170 million euros.
Eni -0,2%. The six-legged dog has successfully launched a fixed-rate bond with a nominal value of 900 million euros placed on the Eurobond market. Out of the basket of blue chips, Indesit +5%, Equita has raised the recommendation to "buy".
