The European stock exchanges react upwards to the decisions of the Fed. All stock markets are traveling in positive territory, including Madrid (+0,35%), despite the serious institutional conflict with Catalonia. TO Milano the Ftse Mib index (+0,56%) is close to 22.500 points, reaching the highest since December 2015. The same change a Paris, Frankfurt +0,33%. Weak London (-0,09%).
The euro slowed against the dollar, up 0,85% in its best session since January: the cross consolidates around 1,19. There Central Bank of the United States, as expected, confirmed that key interest rates remain between 1% and 1,25%, but added that a hike by December could be "appropriate".
Against the yen, the greenback pushed to the highs of the last two months. Meanwhile this morning Standard & Poor's cuts China's long-term debt rating by one notch to A+ and that of the country's short-term debt at A-1, stable outlook. "The downgrade - explains the agency - reflects our assessment of an increase in economic and financial risks in the country following a prolonged period of strong credit growth", while the stable outlook "reflects our opinion that China will maintain solid economic performance and improved fiscal performance over the next 3-4 years.”
Sales this morning on European debt securities (in line with those of bonds). The yield of XNUMX-year German Bund it rises to 0,47%, the highest since the beginning of August. That of the BTP rises to 2,10%. Speeches by Mario Draghi and ECB chief economist Peter Praet are on the agenda today; Traders will be looking for clues on the future handling of QE after sources reported on Tuesday that there was still no agreement on whether to set a date to end the program as early as next month.
Brent oil fluctuates around 56,12 dollars a barrel, the highest since April. The market is aiming for a further cut by the producing countries. Eni salt of 0,4%. Saipem + 1,1% Tenaris-1%.
The banking sector comes to the fore in Europe: +1,5%, the highest for a month in the expectation that the ECB will follow the US in putting an end to the expansionary policy.
The best performance is that of Commerzbank (+4,20%): the German weekly WirtschaftsWoche writes today that the government would be in favor of a merger of the bank (owned by the state) with the French BNP Paribas (+1,6%). Less credit on the market levies track Unicredit (+2,46%), reported yesterday by Reuters.
Widespread increases also in the rest of the Italian banking sector: Where's Banca + 3,8% B for Bank + 3% Intesa Sanpaolo + 1%. Mediobanca is up 2%.
He misses out Atlantia (-0,5%). The German newspaper Boersen-Zeitung confirmed that the Spanish Acs wants to present an offer for Abertis through its subsidiary Hochtief, to which it will sell according to Expansion a assets for 4-5 billion. For Equita, Atlantia can increase the cash offer to 17-17,5 euros.
The confirmed upward trend in interest rates weighs on utilities: Enel is down by 0,2%. Triad of 0,5%. Also declining Mediaset (-0,1%). The company would be interested in participating in the auction for the World Cup. Telecom Italy + 0,6%.
Continue the march of Buzzi (+2,5%). Contrasted luxury: Ferragamo + 1,1% Luxottica -0,8% after Rbc downgrade.
Fiera Milano +7,8%, leaps to the highest since March 2016. Tiscali +8% after the positive first six months of its history. Trevi +8% after the arrival of new orders.
