Slows down Piazza Affari in the middle of the day, remaining in any case around 22.500 points in the aftermath of Draghi Day. Rises and gains reset throughout the morning, only to then turn more into the red after noon. Worth mentioning is the exploit of Moncler, which gains 8% after the revenue boom in the first nine months of 2019 (+14%) and also dragging the other luxury stock, Salvatore Ferragamo, second best stock in the Ftse Mib with +1,2% at mid-day. Then they come to seal everything the accounts of the industry giant Kering, with turnover growing by 17% to 11,5 billion in the nine months. On the Paris Stock Exchange, the shares of the French group, which owns brands such as Gucci, Saint Laurent, Balenciaga, Alexander McQueen, Bottega Veneta, Boucheron, Brioni, Pomellato, bounced by almost 10%.
Bad instead Eni after the accounts that have indeed seen production grow in the nine months, but also net profit fall compared to the same period last year (although less than the even more pessimistic expectations of the consensus): the six-legged dog yields about 1%, but Unipol and Poste Italiane are even worse. In fact, the insurance sector suffers, which starts the session showing itself in perfect harmony with the downward trend of the EURO STOXX Insurance index: in particular Unipol -1,45%, then Generali -0,7% and Cattolica -0,9% out of the main basket.
Fight the banks, cautious after the last Governing Council of the ECB led by Draghi, which has confirmed the start of Quantitative Easing on November 0,3st, that is practically when the successor Christine Lagarde will take office: Intesa Sanpaolo -1,2%, Unicredit -0,1%, Ubi Banca still -0,3% after yesterday's losses, better Banco Bpm +0,23, XNUMX% and Mediobanca +XNUMX%. The bank headed by Alberto Nagel has just ended a great quarter, with the net profit soaring by +10%, better than expected. En passant, Nagel reiterated that “there will be a discussion with Del Vecchio but Mediobanca remains focused on the strategy”.
The sluggish trend of the markets is also confirmed by the foreign stock exchanges: only London goes into more markedly negative territory (by about half a percentage point at 12), following the latest proposal by Prime Minister Boris Johnson to go to early elections on 12 December. The Btp-Bund spread decreased slightly, appearing below 140 basis points. The euro appreciates against the dollar and today it is trading at 1.11199 against the US currency. Nothing transcendental to report even on the raw materials front, with oil registering a barely bearish trend: Brent at 61.5 dollars a barrel, Wti at 56.1. Gold quotations rise a bit, returning above the threshold of 1.500 dollars an ounce.
