Le European stock exchanges they open the week with a flourish and close a crackling session, thanks to the drop in gas prices (with the probable "dynamic ceiling" in the EU plan), the change of course in British fiscal policy (taxes will increase and not decrease), at intoned opening of wall street, in the middle of the quarterly season. In New York it is appreciated bofa (+5%), after showing revenues up and profits down, above forecasts for improvement in bond trading.
Business Square it gained 1,86% and closed at 21.319 basis points, with purchases rewarding almost all blue chips, including banks. Outside the main basket lives a story in itself Mount Paschi, on the day of start of the hyper-dilutive capital increase, from 2,5 billion euros and equal to ten times the market capitalization of the bank. Shares lose 2,69%, while rights plunge 91,43%.
In the rest of Europe: Madrid +2,34%; Paris +1,83%; Frankfurt +1,73%; Amsterdam +1,64%; Zurich +1,67%; London + 0,89%.
Among the titles under the spotlight in recent weeks Credit Suisse rose 2,51%% after reaching an agreement to pay 495 million dollars to close a proceeding in the United States.
The euro is recovering, the pound rebounds, spreads are on the rise
On the currency market takes a breather dollar andeuro it recovered about 1% bringing the exchange rate above 98 cents. Runs the pound after the presentation of the program by new finance minister Jeremy Hunt, who said the government would reverse almost all the tax changes announced in Prime Minister Liz Truss's economic growth plan three weeks ago. The seat of the premier now seems to be at high risk.
In the wake, British government bonds recover and yields fall, while the city remains cautious.
The pressure also eases eurozone bonds, but the spread between Italian and German ten-year bonds rises: 238 basis points (+2,28%), with rates falling to 4,64% and 2,27% respectively.
The problems related to the race in prices and the counteraction of the central banks remain in the background, while Istat confirms the preliminary estimates for Italian inflation in September, +8,9% on an annual basis, and revises the so-called shopping cart, which however has remained at its highest level since 1983.
Cautious oil and gas down, with variable ceiling for the EU
Oil moves in cautious progress, waiting for China to lift the veil on its quarterly performance. The Brent it rose by 0,7% to 92,29 dollars a barrel.
Methane futures in Amsterdam, the reference market for Europe, instead reached their lowest level since June 27, slipping even below 130 euro MWh following the news relating to the gas plan which the Commission will present tomorrow in the hope of bringing the various countries to an agreement.
The plan should include the introduction of a dynamic and temporary price cap to avoid price volatility and prevent market spikes.
Piazza Affari in green, with purchases spread across all sectors
The increases in the Ftse Mib are driven by an oil service like Tenaris, +4,67%, but purchases today spread across practically all sectors. The only slightly distressed blue chips are Campari -0,26% and Cnh -0,04%.
In the rest of the list they shine Interpump + 3,54% nexi + 4,25% Leonardo .
The utilities get in tune with the general climate and appreciate starting from Hera +2,61%. Well Enel +2,48% also supported by rumors about negotiations with the CVC fund for the sale of 50% of network services to distributors.
Raise your head telecom, +2,72%, game in the red due to the rating cut by S&P.
In the car it stands out Stellantis, +2,53%. According to CEO Carlos Tavares, the future for chip supply looks rosy: "There are only a few suppliers who remain problematic, but the situation will continue to improve and by the end of 2023 the issue will be resolved".
Among the financial stocks are in light Finecobank +2,95% and Mediobanca +2,75 and the big banks are making good progress, Understanding +1,79% and Unicredit + 1,29%.
Mount Paschi is the protagonist of a completely different film. The rights to subscribe to the capital increase have collapsed and the shares have fallen. The percentages refer to the values adjusted by Borsa Italiana with respect to the last closing recorded last Friday.
Well, among the minor titles, in the oil sector, D'Amico (+4,04%), active in oil shipping and the refiner Saras +4,25%. According to what can be read on the latter's website, Trafigura would have risen in the capital to 5,2% from the 3% recorded in October 2020.
