Everything stopped, or almost, waiting for Mario Draghi's words. In reality, the markets do not expect sensational announcements, but they will evaluate every comma of the ECB president's speech with the utmost attention, in view of a possible path towards quantitative easing (hoped for by the OECD) and, above all, the effect of the pressure from the hawks of the Bundesbank to control, if not limit, the public outings of the head of the central bank, accused by the Germans of having often gone freewheeling from Jackson Hole onwards.
While waiting for the conference, the Ftse Mib index lost 0,2% to 19.308. Paris (-0,39%) and Frankfurt (-0,28%) were also down. Madrid loses the most (-0,73%), finally London is also in the red (-0,35%).
A counter-current note comes from Adidas, +4,5% in Frankfurt after the quarterly which shows the disposal of stocks in Russia.
Meanwhile, this morning there was a new sign of economic slowdown in Germany, with industrial orders in September up by only 0,8% on the previous month, against the +2,3% expected on average by economists.
The decline of Monte Paschi (-3,4%) after the launch of the 2,5 billion capital increase takes center stage in Piazza Affari. Banca Akros analysts judge the increase "highly dilutive" for a bank that is worth less than 3,5 billion in Piazza Affari. According to Equita, "after the rebounds of the last few days, the stock trades at a post-increase multiple of 0 times, in line with the rest of the sector, a level that we consider already adequate".
The other banks are down: Unicredi loses 0,9%, Intesa -0,7%. Generali also fell (-0,3%).
On the contrary, in great evidence among Finmeccanica industrialists (+3,3%): the management has raised its estimates on the results for the whole of 2014.
StM moved little (+0,5%), FCa dropped by 0,6%. Telecom Italia was also down (-1,6%) pending the results to be announced tomorrow morning. Among the minor titles, Moleskine stands out (+5%): Ubs confirmed the Buy rating, while lowering the target price to 1,5 euro from 1,6 euro.
