The Milan Stock Exchange goes up +0,42% above the 23.100 mark, galvanized by the movements on luxury, starting with Moncler. The other lists are also taking the upward path after the uncertain start of some markets, such as Germany where in October industrial orders in Germany surprisingly decreased due to weak domestic and foreign demand: -0,4% compared to the previous month, against estimates of an increase of +0,4%. Frankfurt in the late morning gains 0,18%. The best stock exchange is that of Paris +0,7%, regardless of the general strike that is paralyzing the country. Madrid up too. On the other hand, London -0,05%, weighed down by the rise in the pound, which is at its highest for two and a half years against the euro, is lagging behind.
ll GDP of the Eurozone, according to what emerged from the final reading, grew by 0,2% on a quarterly level and by 1,2% on an annual basis in the third quarter. Both the cyclical data and the trend data are in line with the consensus of economists and with the preliminary reading. The Btp/Bund spread fluctuates around 160 points. The 1,30-year trades at XNUMX%.
Oil consolidates recent gains. The OPEC summit kicks off today. In recent days, rumors have intensified that take for granted an intervention to support prices which will pass either through an extension of the current cuts beyond the month of March or through additional cuts. Two OPEC sources told Reuters on Thursday that the group would discuss increasing cuts to daily production, already cut by 1,2 million barrels per day, by another 400.000 units.
Shine luxury backed by Moncler flies on the stock exchange with an increase of over 7% on negotiation rumors explorations for a possible acquisition by the French luxury giant Kering +7,90% which owns Gucci.
The other companies in the sector are up sharply, on the wave of the comparison with Lvmh +1,07%,: Salvatore Ferragamo +5,8% and Tod's +4,6%, the British Burberry rises over 3%. The news comes within hours of Tiffany's accounts. Brunello Cucinelli +1,7%, Safilo +4%. Mediobanca Securities says Moncler news, if confirmed, would lead to a global overhaul of prices in the sector, due to the lack of prey for possible acquisitions.
Weak Fiat Chrysler -0,45% later the news that the Revenue Agency believes that the company underestimated the value of Chrysler during the phased acquisition of the US company.
Positive banks after the contrasting performance in the morning, but without great ideas: Ubi weak, Banco Bpm stable, Banca Mediolanum +0,81%. Banca Generali rises +0,3% which will take the place of UnipolSai in the FTSE basket.
Out of the main basket Rome's title flies +10%: the Giallorossi stock is in the spotlight of the market following the news of possible maneuvers in the shareholding structure and news on the front of the construction of the new stadium. Positive day also for Juventus +2%.
