European stock exchanges in great shape with Piazza Affari to pull the sprint and spread Btp-Bund at two-month low: 286 basis points with yields plummeting to 3,218%
LItaly's openness to possible corrections on the manoeuvre aimed at avoiding the dreaded infringement procedure markets like it a lot, which reward the "new course" with a rain of purchases that from the bond market also have repercussions on the share market.
At 12 the Ftse Eb it flies by 3,04% above 19.280 points, after reaching a maximum of +3,27%, with the banks grinding record increases. The other European price lists are also doing well, galvanized not only by the Italian news, but also green light from the 27 EU countries to the Brexit agreement which will now have to pass the test of the English Parliament. The combination of the two good news translates into general gains: Frankfurt (+ 1,2%), Paris (+ 1,4%), Madrid (+ 1,66%), London (+ 1,12%).
The lists also ignore the Ifo index, which certified the drop in confidence among German entrepreneurs in November, and await the words of Mario Draghi, who will speak before the Commission for Economic and Monetary Affairs of the EU Parliament in the afternoon. Among the appointments to keep an eye on is also the summit on the Maneuver between the prime minister and the two vice-presidents Di Maio and Salvini, scheduled for the evening.
In Milan, the banks dominate the scene, with the sector index up by 5,16%. At the top of the Ftse Mib there are Bper e Mediolanum Bank, both at +6,56%, it follows Ubi which rises by 6,3%. The big names are also on the shields: Bpm bank + 5,76% Unicredit + 5,6% Intesa Sanpaolo +5,27%. Outside the main list they run Banca Carige (+12,5%) and Mps (+7,3%).
Purchases also on insurance: Generali + 3,13% Unipol +2,9%. Well Telecom Italy (+1,8%), despite the cut of the recommendation, from 'Overweight' to 'Equal-weight', by Morgan Stanley.
