European stock markets are trying to rebound after the beating of Black Wednesday. The recovery is probably favored by the closure of the Frankfurt Stock Exchange, on holiday for the celebration of German reunification. The slowdown in Germany's PMI services index does not weigh so much, which fell in September to 51,4 points from 54,8 in August.
Business Square it advances by 0,2% above 21.300 points after registering a rise of +0,4%, better than Madrid +0,3%. The Italian PMI composite index rose to 50,6 points in September from 50,3 in August, above analysts' expectations which remained at 50 points.
The best bag is Paris +0,46% where, surprisingly, the best stock is the object of the dispute over duties between Europe and the USA: Airbus +3,4%, excluded from Washington's sanctions because a large part of the offending production takes place in the Alabama plant. In short, they will be paying the bill parmesan and ham affected by tolls equal to 25%.
READ MORE: US duties: the complete list of affected Italian products
Still in red London: does not convince Brussels Boris Johnson's offer for Brexit -0,56%. There GBP it moved slightly to 1,228 dollars after the latest evolutions on Brexit, while the euro strengthened slightly against the dollar, just below 1,10.
THEgold it is confirmed above the 1.502 dollars an ounce reached yesterday evening, the best session since August. Still down the Petroleum: Wti at the lows of the last two months at 52,7 dollars a barrel. Weak Eni -0,35%, they recover Saipem +0,15% and, above all, Tenaris + 1,16%.
In Piazza Affari the recovery after the beatings of the eve is broadcast: only seven titles out of 40 proceed in the red.
Raise your head Moncler +2,2%, albeit punished by Bernstein who judges the down jacket group one of the most exposed to the crisis in Hong Kong, together with Ferragamo +0,3% and Tod’s -0,28%. The situation in the area remains "very difficult", with sales down between 40% and 60% in both August and September, but part of them are recovered in mainland China.
This means that the direct presence of the sales network in China becomes a critical factor and, consequently, capable of putting companies that don't have one or have one of modest size in difficulty compared to the French luxury flagships.
Highlight the banks. Go back to running Bpm bank + 3% Where's Banca +0,5%. As part of an inevitable process of bank consolidation and the wider aggregation season, Ubi will have to examine all possible M&A options, such as that relating to Banca Mps, Bper Banca and Banco Bpm. This was stated yesterday by Giandomenico Genta, president of the Cassa Risparmio di Cuneo Foundation, the first shareholder of Ubi with a 5,9% stake
Sale Mediobanca +2% on the last day for requesting amendments to the statute at the meeting of 28 October. Leonardo Del Vecchio's finance company would have already reached around 10% of the capital, he writes IlSole24Ore. The raid would not have finished, Delfin would be willing to ask permission from the ECB's supervision get to 20%. According to Anna Maria Benassi of Kepler Chevreux (Vincent Bolloré's reference bank) Leonardo Del Vecchio could be interested in the 7,85% controlled by the Breton financier who, after the increase in stock market prices, could make a capital gain.
It also dates Unicredit +0,4% which launched a 5 and a half year senior preferred bond for 1 billion euro which attracted orders for over 2 billion.
Bene nexi which recovers yesterday's decreases: it is now gaining 1,3% to 9,28 euros. Yesterday Mediobanca had included the title among the 5 shares to buy.
Auto remains weak on fears of a tightening of US tariffs. Fiat Chrysler e Pirelli they lose respectively 1,2 and 1,5%. For Equita, the US auto data will allow the FCA group to confirm its 2019 forecasts. Components are down slightly, with Brembo -0,3% and Sogefi -0,7%.
stm +1,2%: Morgan Stanley has raised its target to 20,50 euros.
The swing continues Bio Hon +9,9% later the recent declines in results which showed a fall in sales in the semester.
Drums Investment Partners accelerates upwards by 4,5% to 6,27 euros. This morning Equita Sim promoted the judgment to Buy from Hold, target price at 7,10 euros from the previous 6,50 euros. The analysts of the Milanese SIM highlight the excellent fundamental and stock market performance of the main listed subsidiaries including Interpump, Amplifon, Prysmian, OVS, Moncler, which grew on average by 34%.
