Slow down the rise in the second day of the Trump era Wall Street deflates and European stock markets fall. In Milan, the FtseMib index closed unchanged after an initial rise of 2%. The Paris Stock Exchange lost 0,2%, Frankfurt -0,1%. In mid-session in New York, the S&P500 fell by 0,2%, Nasdaq -1,3%. The Dow Jones remains positive at +0,6%, after having reached a new all-time high of 18.669 in the first trading days.
The dollar continues to strengthen and is trading at 1,087 against the euro, from 1,091 last night. The yield on 10-year BTPs flies to 1,90%, a level not seen for 15 months, from 1,74% yesterday evening. Italian bonds move in the wake of those of the United States, pushed down by expectations of an acceleration in economic growth: the architect of a new economic miracle should be Donald Trump. The Treasury Bill yield is 2,08%, 25 basis points higher than two days ago.
The rate hike triggered strong utility sales (-3,8%). Enel lost 3,5%, A2A -5,1%, Terna -4,4%, Snam -4,96%. In Piazza Affari, however, the Fiat Chrysler rebound +7,82%. Banca Akros (buy, Tp 10 euro) believes that overall Trump's victory is neutral or positive news for the stock.
Fly Leonardo +4,4%. Among the other industrialists Buzzi +1,3%, Cnh Industrial did well +4%. Heavy decline of StM -3,1% (all Tech stocks fell on Wall Street). Good market response also to the Unicredit accounts +2,8%. Intesa gained 4,3%, Banco Popolare +5,6%. Closures down for Monte Paschi -3% and Ubi -2,2%.
Noteworthy in Frankfurt was the leap of Deutsche Bank which closed up 5,5%, Société Générale +3,5%. Among the insurance companies, Generali +0,09% after i third quarter results slightly below analysts' expectations. In Paris, Axa gains 4,2%, Allianz +2,47%.
Sharp rise in Azimuth which accelerated after the publication of the quarterly results which showed a much higher profit than expected. Furthermore, the group announced that the buyback should start in the coming months.
