Day with the negative sign on European lists. Once the Syrian emergency has been defused, the markets are looking to the appointment of 18 September with the meeting of the Fed FOMC where on the table will be the "tapering" dossier and the recovery of the Eurozone, which must also pass through the political appointment of the German elections of September 22nd. In the morning, the data on European industrial production weighed on the lists, unexpectedly dropping by 1,5% in July, with Italy down 1,1%, the worst economic figure since June 2012. After five upward sessions (+5%) Milan, which limits losses towards the end, closes at -0,23% while the spread rises to 257 basis points. Today the Treasury has placed all 7,5 billion bonds but with a yield on 4 billion three-year bonds rising sharply to 2,72%, the highest since October 2012.
Paris -0,30%, Frankfurt -0,02%, London +0,01%, Madrid +0,55% with the spread confirming itself below the Italian one at 252 basis points, albeit on the rise.
Today Draghi cooled optimism about the economic recovery by stressing that it is still "very very green", i.e. just started and to be kept under close observation. The president of the ECB thus deems the recent increase in short-term interest rates recorded on the money markets unjustified: the ECB, he specified, has not completed its monetary policy options and will continue to provide the eurozone economy with all the support it needs. Appreciation also for today's positive vote by Europe on the eurozone's single banking supervision mechanism under the ECB. Eurotower, Draghi said, "looks forward to working with national authorities to help restore confidence in the banking sector."
In United States important data was released on jobless claims in view of the Fed's decisions which showed a drop of 31 units last week to 292 units, the lowest level since April 2006. But the data must be taken with a grain of salt: in addition to Labor Day, it is the result of a technical mishap in the collection of statistics by some US states. In fact, in two states incomplete data was delivered due to technical problems related to the transition to a new computer system which temporarily suspended the activity of registering subsidy applications. Wall Street opened on parity. Apple's rebound +0,96% after sales following the presentation of new models. Redemption of Facebook which updates the historical highs and rises by 1% to 45,48 dollars. On five-year highs Yahoo. Hilton hotels, on the other hand, are preparing for the 1,25 billion dollar IPO. Oil rises by 1 dollars a barrel, the euro/dollar exchange rate remains unchanged at approximately 108,8.
Piazza Affari was weighed down by the banking sector: down about 1% Unicredit, Banco Popolare, Ubi, Mps, Intesa Sanpaolo. Bpm (+0,7%) goes against the trend, always driven by expectations for a change in governance. But at the bottom of the Ftse Mib we find Azimut -2,23%, Prysmian -1,93%, Pirelli -1,78%, Tod's -1,78%, Mediaset -1,62%. On the rise instead stm +5,8% which rebounds benefiting from the confirmation of the buyout by Goldman Sachs which raised the target price from 8,5 to 9,5 euros per share. Finmeccanica +2,6% thanks to the upgrade from veteran to hold of Kepler Cheuvreux pending divestments, Gtech +1,7%, Buzzi Unicem +1,35%, A2A +1%.
Among smaller capitalization stocks, Camfin leaps +8% after Consob started the procedure for raising the price of 0,80 euro offered by Lauro 61 for the mandatory takeover bid which was to be closed tomorrow and which is being extended.
