Business Square dances on its own and closes up 0,21%, 22.693 points, trailed by fca (+8,22%) and its major shareholder Exor (+5,69%), after the confirmation of the merger plan between FCA and Peugeot, to create the fourth largest automotive group in the world.
Il Petroleum down and the specter of duties are frightening the other European stock exchanges and Wall Street.
London in Europe it is the worst and closes with a loss of 1,12%. Boris Johnson is frustrated because Brexit did not happen today, as promised, but if the electorate votes for him, the exit from the bloc - he guarantees - will take place by January.
Frankfurt loses 0,34%; Madrid -0,36%; Paris -0,62%. On the Cac 40 Peugeot it collapses by 12,8%, so while the Lingotto is toasting, the French are crying. The different reaction should be linked to the decisions on the dividends to be distributed following the marriage. FCA shareholders will be entitled to a maxi bonus of 5,5 billion euros, of which Exor will be the main beneficiary, while PSA will distribute to its shareholders the 46% stake held in the component company Faurecia (-2,6%).
Fiat Chrysler also today disclosed third-quarter results, which reveal higher-than-expected operating profit. Guidance confirmed thanks to the contribution of the North American market.
Cars aside, investors are eyeing the trade deal between the US and China with renewed concern. Donald Trump stems the mood by saying that Washington and Beijing will soon announce a new venue in which to sign a "Phase One" agreement after Chile canceled the summit scheduled for mid-November. However, he confuses Bloomberg's news that Chinese officials doubt that a long-lasting agreement can be reached. We are therefore moving away from the new records reached yesterday by the S&P 500 thanks to the cut in rates by a quarter of a point by the Fed and the better-than-expected results of Apple and Facebook, still in tune today. dates backgold, which runs at $1513,85 an ounce. The euro-dollar is flat, with the exchange rate hovering around 1,115.
On the other hand, the energy sector is tested globally by the disappointing indications of Royal Dutch Shell (-3,5%) and the negative trend of oil. Brent falls below 60 dollars and trades at 59,38 dollars a barrel, -1,43%. In Piazza Affari it flexes Tenaris -3,29%, after the numbers for the quarter. Bad too Saipem –1,26% e Eni -0,93%. They also rank among the major declines of the day Azimuth -2,02%; Amplifon -2,09%; Buzzi -1,95%; stm -1,6%. Banks are opposed: Unicredit -1,01%; Bper + 0,7%.
Featured on the main price list A2a +2,71%; Atlantia +0,87%; Enel +0,54%, which updates its high to 6,94 euros per share.
The bond market was positive, on the eve of a new era in the ECB. From tomorrow Christine Lagarde will be the new president in office and, according to Reuters, she will initially retain the main advisors appointed by Mario Draghi, including his private adviser. A further sign of continuity and on the Italian secondary the yield of the 10-year BTP falls to 0,93% and the spread with the Bund cautiously retracing its steps to 134 basis points (-0,77).
