European stock lists close a moderately positive session, despite the fact that the pandemic situation remains alarming on the continent and the point of view of Wall Street was missing in the afternoon, closed for Thanksgiving and half-service again tomorrow, when the Black Friday Christmas shopping starts .
Frankfurt rises by 0,24% and announces that starting next Monday (November 29) the stock exchange will remain open until 22pm, i.e. until closing time in New York. Investors will be able to trade equities, ETFs/ETPs and mutual funds on the Frankfurt Stock Exchange. The extension of the hours will allow to react in the evening to what is happening on the American market and to benefit from the advantages of trading.
Paris earn 0,48%; Amsterdam +0,57%; Madrid +0,54%; London + 0,32%.
Business Squarei is flat (-0,04%), weighted by profit taking on Telecom -2,66% Pirelli -1,81% Inwit -1,7% Unicredit -1,55% and supported by Campari, + 2,51%, Enel + 1,48% Amplifon + 1,31% Prysmian + 1,3%.
The stock of the moment remains that of the telephone company, which continues to move between peaks and falls and changed sign during the session after having managed to exceed the level of the possible offer of Kkr (0,505 euros per share) to then stop at 0,484 euros . The achievements therefore hit the shares after the boom on the eve, while the wait for tomorrow's board of directors rises, which could put the managing director, Luigi Gubitosi, in difficulty due to the company's disappointing accounts and the poor results achieved with Dazn. Among analysts there are those who fear that Telecom will be forced to launch a new profit warning. According to Equita, it is unlikely that the CEO will be kicked out, considering the delicate situation.
The good performance of Campari it should be related to the rally of Remy Cointreau (+13%) which updated its all-time highs in Paris, after having revised upwards the outlook on earnings for the year thanks to solid demand for its premium cognac, which has led to higher-than-expected operating profit in the first half.
It is confirmed on the shields Enel, after yesterday's presentation of the 2022-2024 plan and the announcement of the spin-off of EnelX, a company dedicated to electric mobility. The plan is judged by Equita "solid on the expansion of renewables, networks and customers". The broker confirms the 'buy' on the stock and the target price of 8,4 euros per share. “We are also raising our profit estimates to between 1,5% and 6% in the period 2022-24”, he writes in today's report.
It is weak Generali, -0,43%, which communicated the start of exclusive negotiations for the purchase of La Médicale, the Crédit Agricole Assurances insurance company aimed at healthcare professionals.
Slightly declining Ivy (-0,2%), which won the tender for the management of urban and assimilated waste in the Bologna area, with a contract worth over 1,7 billion euros with a duration of 15 years.
Outside the main basket, Mediaset lost 1,24%, after the go-ahead from the shareholders' meeting to change the name to MFE-MediaForEurope NV and to the new dual-category shareholding structure with different voting rights. The operation, reads a note, is "a fundamental step in pursuing the creation of a pan-European group in the entertainment and content sector as it will provide greater flexibility for the financing of any future M&A operations".
The debut is stellar for Take Off (+8,75%) on Euronext Growth Milan, the former Aim market.
High Gas plus, +10,09%, which yesterday evening announced the start of construction of the first of the four development wells of the Longanesi project, thus opening the development phase of the Group's most important Italian project, located in the province of Ravenna, with reservations of 2P gas estimated at 1.100 million cubic meters in the Gas Plus share.
The banks are weakBpm bank -1,56%), while the spread it remains close to 130 basis points (129) and yields rise: the rate of the 1,01-year BTP +0,28%; -XNUMX% that of the Bund with the same duration.
On the primary side, the Treasury has fully assigned the maximum amount offered of 'short term' BTps at 2 years, with the yield decreasing to -0,26%. Demand was high for the 10-year BTP-i, but the yield rose by 20 basis points to -0,65%.
Bonds are feeling the effects of the inflationary picture and look at the narrow path along which central banks are moving, after reading the minutes of the last meetings of the ECB and the Fed.
In particular Eurotower sees the risk of a downward forecast of real GDP growth in December (although this should be compensated by higher growth in 2022), while inflation should return below the target in the medium term, but it could take longer than expected.
Restrictions, infections, inflation (due to energy supply and cost problems) are not an easy recipe to digest. In
Germany, which is experiencing a dramatic moment for sick people and the number of deaths, has been revised downwards the growth of the third quarter, from 1,8% to +1,7%, with the tendential growth confirmed at 2,5%. The more updated GFK data on consumer confidence worsened, down to -1,6, the lowest level for six months.
As for Covid and to stem the spread of infections, the EMA (the European drug agency) has given the green light to the use of the Pfizer-Biontech vaccine for children between 5 and 11 years old.
On the currency market theeuro slightly recovers ground against the dollar and changes over 1,12.
Among the raw materials the Petroleum is in fractional decrease: Brent 81,88 dollars per barrel (-0,44%), Wti 77,89 dollars (-0,63%).
Flat the ingot.
