The signs of turning point expected by the market have not arrived from the war on tariffs between the US and China and investors are taking advantage of the climate of uncertainty to realize. After a morning of floating above and below parity, 12 Business Square it is essentially flat: +0,13%, at 23.608,55 points. Same situation on the other most important stock exchanges in the Eurozone: Frankfurt -0,09% Paris +0,06% and Madrid -0,01%. Outside the currency area, the list of London (-0,42%).
The markets therefore ignore the positive macroeconomic data from Germany: in the third quarter the German GDP it grew by 0,1% year-on-year and 0,2% quarterly, beating expectations and thus avoiding the specter of a technical recession.
The debt market was also little moved, with the BTP-Bund spread which travels slightly up, to 163 basis points.
Sul Ftse Eb, the best upside is to Diasorin (+3,5% after two volatility auctions). The stock rose along with the entire diagnostics and biotechnology sector on the back of some rumors about an interest by the American diagnostic equipment manufacturer Thermo Fisher Scientific in Qiagen, a Dutch molecular testing company.
Snam skids at the start (-1,5%), but then recovers (+0,2%) afterwards publication of the quarterly (profit up by more than 9% over the nine months).
The utilities are positive, with Ivy which stands out with an increase of 1,6% still in the wake of the quarterly. That +2,3% after the bills.
Bank shares travel substantially in line with the list: Understanding + 0,2% Unicredit + 0,16% Bpm bank + 0,3%.
Outside the Ftse Mib, Eurotech it collapses at the opening by 10% to then recover ground as the hours go by (-4% at 12) after the accounts published on Wednesday evening.
It gets worse at Unieuro, down by more than 10% after Ieh sold 16,25% of the capital at 12,95 euros per share, ie with an 11% discount.
Giglio Group -5,5% after the closure of a capital increase at €2,65 per share (at a 13,7% discount).
At an international level, an important starting point of Burberry on the London Stock Exchange. The title of the clothing house jumps by 4,5% after the release of the accounts for the first fiscal semester, archived in growth (net profit +14%) despite the impact of the protests in Hong Kong and the uncertainty related to Brexit.
In Germany, Daimler announces a plan for personnel cuts in the Mercedes Benz car division to save over one billion by the end of 2022. The plan provides for further personnel cuts to save 400 million also in the van (100 million) and truck (300) divisions.
From China, however, come more details on theAlibaba IPO, which aims to also be listed on the Hong Kong Stock Exchange, dopo the record debut of 2014 in New York for 25 billion dollars. It will be the most important placement of the year globally, for a total value of approximately 13 billion dollars (in the central part of the estimates, which fluctuate between 10 and 15 billion). The group started a week-long roadshow on Wednesday to place 500 million shares, to which it could add an additional 15% (about 75 million shares) for the greenshoe option. The final price of the IPO will be revealed on November 20, while the debut on the Hong Kong list is expected on November 26.
On the currency market, the euro is trading at 1,1 dollars (unchanged) and 119,65 yen (from 119,57 on Wednesday), while the exchange dollar/yen stands at 108,665 (up from 108,77).
Finally, the Petroleum: crude oil contracts wtf travel at 57,46 dollars per barrel (+0,6%), those on the Brent to 62,78 dollars (+0,66%).
