Le European stock exchanges are positive at the end of today's session, supported by numerous quarterly reports, while Wall Street continues weak at the end of the morning after the long, recent rally. Oil rebounds and gas catches fire as colder temperatures arrive in the Old Continent. Watch out for China: deflation appears in October (consumer prices -0,2% on an annual basis), raising the alert on the performance of the world's second largest economy.
A good deal of uncertainty in the last few sessions can be attributed to the wait for Mr.'s speeches Jerome Powell (today at 20pm, Italian time) and of Christine Lagarde (at 18,30 pm) which could disappoint or confirm the operators about the end of the bullish phase of monetary policy.
In this interregnum the euro-dollar there is little change, but the exchange rate remains around 1,07. THE T-bond prices are falling and yields are rising, albeit to a limited extent. The 4,577-year Treasury shows a rate of 5%; the two-year bond is below 3%. On the macro front, unemployment claims in the United States last week fell by 217.000 thousand units to 218.000, against expectations of XNUMX.
Europe on the rise, Amsterdam and Madrid stand out
Taurus regains strength in Europe starting from Amsterdam +1,97%, driven by Adyen NV, which gained 37,37% thanks to better-than-expected quarterly revenues and medium-term objectives considered realistic by analysts. The stock of the digital payment processing company, among the largest in the sector globally, galvanizes the sector at a European level. TO Milano (+0,74%) stands out nexi, +9,7%, also driven by the quarterly report.
It is also among the best squares in Europe today Madrid, +1,32%, which celebrates the agreement between the Socialist Party and the Catalan independentists, a possible prelude to a new government of Pedro Sanchez. Today, however, the former president of the People's Party of Catalonia, Alejo Vidal Cuadra, was seriously injured by a gunshot in the center of the Iberian capital.
In the rest of the continent they rise Frankfurt + 0,8% Paris + 1,11% London + 0,75%.
Piazza Affari toned with quarterly reports
Piazza Affari closed another tonic session, with an increase of 0,74% to 28.644 basis points, thanks to a large number of quarterly reports that positively surprised the market. Among the stocks driven by the accounts of the last few days, Nexi stands out, Bper + 4,69% Azimuth + 3,3% Banca Mediolanum + 2,37% Finecobank + 2,86% Unipol + 2,23% Recordati + 2,19% Tenaris + 1,84% Prysmian +1,8%. It's on the rise too Telecom Italy +0,8%, later the chiaroscuro numbers seen yesterday. “The results confirm that the sequential improvement in operating performance is not sufficient to resolve the financial leverage problem, for which the evolution of the NetCo dossier will be fundamental,” commented Intesa Sanpaolo experts in a note. CEO Pietro Labriola, in a call with analysts, said however that he did not fear "risks" and "obstacles" for the completion of the Netco operation.
Red is limited to five blue chips: Ivy -1,41% stellantis -1,02% Diasorin -0,58% Cnh -0,35% Amplifon -0,07%.
Outside the main basket there is a session to frame the titles of the Berlusconi galaxy, Mfe A (+ 7,94%) and Mfa B (+7,73%), thanks to the better performance of advertising sales in Italy in autumn.
Shines De'Longhi (+11,42%) on the wave of the accounts and Industrie rebounds From Nora (+8,1%), which started the purchase of own shares.
Stable spread; the annual BOT yield drops
Lo spread remains stable, with rates rising slightly while awaiting Lagarde. The yield differential between 180-year BTPs and Bunds of the same duration is 4,45 basis points and the yields are indicated respectively at +4,41% (from 2,65% yesterday) and 2,61% (from XNUMX%).
Meanwhile, in the primary sector the Treasury has placed all 6 billion annual Bots expiring on 14 November 2024 and falling rates. The yield fell 8 points to 3,86%, from 3,942% in the mid-October placement, to the lowest since mid-August. The amount requested was close to 8 billion. From the ECB front, the prudent position of the governor of the country is evident Bank of France, Francois Villeroy de Galhau. Inflation “is clearly coming down,” she said, and while rate hikes “are not nice, they are effective,” they will bring inflation back toward the 2% target. It cannot yet be said that this is the opinion of the entire ECB, but "unless there are other shocks, rates will no longer rise".
Gas rises, but Italy's supplies are full
Italy records “record gas stocks for approximately 99% of storage capacity”, said Stefano Venier, CEO of today Snam (+ 1,46%).
The futures of gas however, for days they have continued to rise (although remaining below 50 euros), perhaps driven by the looming cold in Europe in late autumn. Today in Amsterdam the ICE Dutch TTF Natural Gas Futures – Dec 2023 – marks +6,45%, for a price of 48,730 euros per MWh.
On the subject of energy, the Petroleum after the heavy losses of the last period. Brent appreciated by 1,3% to 80,60 dollars a barrel; the WTI +1,2%, 76,20 dollars a barrel.
In the world of cryptocurrencies, the bitcoin it gains 5% and comes close to $37.400, the highest price since May 2022, driven by optimism over the approval of a spot ETF on bitcoin and by a 'short squeeze' that occurred during the first hours of opening of the Asian markets.
