Piazza Affari toasts the postponement of the elections, at least temporarily, and closes up by 1,46%, at 21.042 points, with financial and banks at full throttle. The secondary is also euphoric: the spread between Italian and German ten-year bonds decreases, -5,15%, 191.70 points, yield 2,18%. The words of Mario Draghi also contribute to this result, as he keeps the ECB on the set course: unchanged rates and Qe at the current rate of 60 billion euros a month at least for 2017, if not beyond. There is recovery in Europe, but inflation, in the forecasts for the three-year period 2017-2019, is not yet close to 2%, which is the target of the Central Bank. The press release does not mention a possible rate cut, but then the governor, answering questions, specifies: "We have eliminated the bearish 'bias' on rates since the long-term risks on inflation have disappeared", but "if were to reappear, we would be ready to cut rates again”.
The climate of the other European markets is more tepid: Madrid +0,75%; Frankfurt +0,32%; Paris -0,02%. London still loses share, -0,38%, pending the electoral verdict; the polls will close at 22pm (23pm Italian time).
Prudent progress on Wall Street, while the House of Cards in Donald Trump sauce is staged in the US Senate. Former FBI chief James Comey said the administration chose to "slander me and the FBI, and lied about me and the FBI." Furthermore, "there is no doubt that Russia has interfered in the American elections, but I am confident that no vote has been altered". Finally, Trump didn't explicitly order him to drop the investigation into former National Security Advisor Michael Flynn, but Comey thought he wanted to.
In New York, at the beginning, the stocks of the tech sector are in turmoil after Alibaba forecast a growth in revenues of 45-49% in 2017, thus exceeding 34 billion dollars. Following is Yahoo, which owns a stake in the e-commerce firm. Amazon instead reveals its banking vocation and says it has exceeded 3 billion dollars in loans to small businesses from 2011 to today. The automotive industry fell with Ford penalized by a negative report from Morgan Stanley. Infect FCA Us and General Motors.
The euro falls against the dollar by 0,36%, cross 1,1219. Brent moved little after the heavy losses: -0,12%, 48 dollars a barrel. Gold rewinds the tape, losing 0,85% and falling to 1276,607 dollars an ounce.
In Piazza Affari financial companies win above all with Azimut +3,89%, Banca Generali +3,8, Finecobank +2,45%; Banca Mediolanum +2,61%. The banks are exuberant: Unicredit +3,22%; Bper +3,71%; Ubi +1,67%; Entente +1,02%. Unipol +1,52% and Unipolsai +2,47% are recovering. Well, in insurance, also Generali +1,75%.
Ferrari and Fiat are moving in opposite directions. The former is up 1,68% and comes close to doubling on the stock exchange with the value of each share at 81,55 euros, up from the initial 43 euros. The second yields 1,13%. Brilliant, among the utilities, Enel +3,04% and Snam +1,46%; among oil companies, Tenaris +1,58%. Eni was also positive +0,73%. Well bought Leonardo: +2,05%; Cnh +1,79%; Stm +1,13%.
At the bottom of the list is Salvatore Ferragamo -3,5%, after the review of various analysts. In particular, MainFirst corrected the recommendation downwards bringing it to 'underperform' with a target price of 22 euros. Outside the main basket, Pininfarina shines +7,31%; Banca Carige +4,51% and even Banco Santander +4,16%.
