Climate of expectation on the markets in view of tonight's moves by Ben Bernanke who could adopt new stynol measures on the economy. Also keep an eye on the US macro data that will be released in the afternoon, including data on weekly jobless claims.
Meanwhile the OECD certifies the global slowdown: the quarterly GDP of the G20 area slowed down to +0,6% in the second quarter compared to 0,7% in the first. This is, according to the OECD, the slowdown in the third consecutive quarter in the G20 area, but the different trends point to a recovery in China (+1,8% from +1,6%) and in Brazil (+0,4% from +0,1%), China (+1,8% from +1,6%), Indonesia (+1,6% from +1,4%), South Africa (+0,8% from +0,7 %) and Turkey (+1,8% from -0,1%). Strong slowdowns were instead recorded in Australia (+0,6% from +1,4%), Japan (+0,2% from +1,3%) and Korea (+0,3% from +0,9 %). More moderate slowdowns in Germany, India, Mexico and the United States, while growth rates are unchanged in Canada and France compared to the first quarter. Further contraction for the United Kingdom (-0,5%) and for Italy (-0,8%) where today the Confindustria Study Center has sounded the alarm for consumption: the per capita values in 2012 will record "the most serious decline post-war (-3,6%) and in 2013 will return to 1997 levels, household spending will decrease by 3,2% in 2012 and by 1% in 2013.
Milan drops 0,65%, Frankfurt 0,35%, Paris 0,69& while London rises just above parity to +0,05%.
The good news arriving in recent days from Europe, from the crucial yes to the ESM of the German Constitutional Court to the adoption of European banking supervision but also the affirmation of the pro-European parties to the detriment of the eurosceptics in the Dutch elections, push the euro beyond 1,29.
The Btp-bund spreads, which dropped yesterday to 340, rose in the morning towards area 347 but the 3-year Btp auction was successfully closed: government bonds were placed with a yield down to 2,65% from 4,65%. Placed the entire amount of 4 billion with a demand of 1,49 times the amount.
In Piazza Affari, Diasorin shines +1,66% after Mediobanca raised the target price to 30 euros from 27, with a confirmed outperform recommendation. On October 10, the company plans to introduce new molecular diagnostics products.
Fiat climbs 0,98% after John Elkan said yesterday that 2012 results will be better than 2012 despite the drop in the Italian market to the levels of forty years ago. Goldman Sachs confirmed the buy and raised the target price. Stm + 0,5%, Eni +0,45%, Ferragamo rebounds from the slides of recent days and goes up 0,42%. At the bottom of the Ftse Mib Finmeccanica -3,49% while a record-breaking marriage in the European defense sector between EADS and BAE-Systems worth 48 billion dollars is about to be consummated, “The announcement of negotiations for a possible integration of the activities of EADS and BAE Systems represents a decisive step in the process consolidation of the defense industry at European level – stated Finmeccanica which maintains consolidated partnership relations with both companies on an industrial, technological and commercial level, “which will continue with the new aggregate”.
Among the major drops Ubi -2,10%, Prysmian -1,79%, Pirelli -1,79% and Bpm - 1,78%.
