With the Black October over, the stock exchanges are regaining confidence. Piazza Affari gains about 1% above the 19.200 mark. The other price lists are positive; Frankfurt -0,9%, Madrid +0,7%, Paris +0,3 more calm after Wednesday's extension. More cautious Zurich +0,4% on which the accounts of Credit Suisse weigh -4% after the presentation of the quarterly. Ing +15% in Amsterdam after the results.
Positive ground in London +0,3%, despite the rise in the pound driven by the favorable prospects of Brexit: the Times anticipated that an agreement between the United Kingdom and the European Union for access to European markets for British financial services companies is within reach.
The euro rebounds from last year's lows reached on Wednesday, this morning the dollar cross rose by 0,6% to 1,137.
The debt market is also more relaxed: the ten-year BTP strengthens to 3,36% yield, from 3,41% yesterday. Spread at 296 basis points, -8 basis points. The spread vis-à-vis Portugal and Spain narrows to 185 points from yesterday's close of 189 basis points.
Weak the oil, at a two-month low. Brent crude is trading at USD74,7 a barrel, down 0,4%.
In great performance after the quarterly Tenaris +2,2%. In the quarter there was an increase in Ebitda of 76% year on year to 394 million dollars+ (2%). Net income came in at $247 million, well above analysts' estimates. Profitability and sales volumes are better than expected. The manufacturer of specialty pipes expects an increase in terms of volumes for the fourth quarter, with stable margins.
The board led by Paolo Rocca approved the distribution of an interim dividend of $0,13 per share, for a total of $153 million.
On the other hand, Eni -1% and Saipem -1,8% fell.
Several blue chips are highlighted: Stm +2%. The competitor Asm grows by 15% in Amsterdam and is on track to file the strongest daily gain since 2009 after posting a positive outlook, thus countering fears of a downturn in the semiconductor market.
In the car FiatChrysler restarts +1,5%, Brembo +2,1%. Leonardo +2%. Even better Prysmian +2,5% and Mediaset +2,9%.
Continue Tim's Rise +2% driven by the higher valuation of Persidera, by the drop in the spread and by the Brazil effect (+22% for Bovespa since the beginning of October driven by the election of Bolsonero).
The renewed interest in telecommunications also counts. The British company BT advances in London by 10%, after the publication of the data for the quarter from which the first results of the drastic restructuring emerge: despite the exit of 2 employees (the first of the 13.000 cuts expected for the three-year period) the EBITDA is rose by 2%.
Credit performance is positive. The states of the European Union have reached an agreement on the treatment of new non-performing loans which provides for an extension of the time for the devaluation of the NPLs that may be generated by the new loans.
On the eve of the publication of the EBA stress tests, Intesa Sanpaolo +1% and Ubi Banca +1%. Also Unicredit +1% after Turkish subsidiary Yapi Kredi announced a 33% increase in third-quarter net profit to 1,12 billion Turkish lira.
Banca Generali +3,1% reaches the sixth day of consolidation of the lows of the year.
Outside the main basket, it loses its shots Ima -5%. KeplerCheuvreux cuts the judgement. The subsidiary Gima TT pays for the authorization problems of the electronic cigarette in the USA.
