Piazza Affari sinks and closes down by 1,44% with the banks submerged by a flurry of sales: Bper -6,3%, Unicredit -4,65%, Banco Bpm -4,52%; Ubi -4,06%. Deep red also for Telecom, -2,96%, on the day of the expected meeting between CEO Amos Genish and the minister of economic development, Carlo Calenda.
On the secondary side, Italian paper suffers, pending the outcome of the monetary policy meetings of the central banks and tomorrow's Spanish auctions. The fear of political turbulence also contributes, following the news that the President of the Republic, Sergio Mattarella, will dissolve the Chambers between Christmas and New Year's, opening the process of new elections, which will probably be on 4 or 11 March. The yield of the 10-year BTP rises to 1,78% and the spread with the Bund to 145.60 basis points, +5,28%. Weak, but more sober, the other European lists: Frankfurt -0,44%; Paris -0,51%; Madrid -0,27%; London -0,05%.
Wall Street is off to a good start and is currently strengthening, driven by technology stocks, while financials are losing share. Western Digital, Apple, Facebook and Paypal are up. The surprise victory of a Democratic candidate in the special elections in Alabama does not seem to affect the mood of the market, while expectations are growing for the communiqué with which, at 20 pm, the Fed will almost certainly announce a rate hike from 1,25, 1,5% to 2018% and above all he will illustrate his forecasts for 0,2. As regards inflation, according to the data on consumer prices, the core component loses momentum in November and pressures seem to remain contained and below the target of the Central Bank. The data affects the dollar, which retreats against the main currencies. The euro recovers about 1,176% and moves around XNUMX.
Weak oil, Brent -1,23%, 62,56 dollars a barrel. The data on US weekly inventories are, in part, better than expected, but OPEC, in its monthly report, claims that the global oil market will not return to equilibrium before the end of next year, mainly due to the increase in supplies from part of the United States. In Piazza Affari today, not even oil stocks are saved, after yesterday's brilliant performance.
Only a few big names escape the heavy rain of sales. Cnh, +1%, is the best stock. The company produces agricultural machinery and, like its competitors, is today taking its cue from the news that the US Department of Agriculture has revised upwards its wheat production estimates, indicating that the 2017-2018 season will be record-breaking and will update the highs reached in the previous one. Well Stm +0,86%; Generals +0,46%; Ynap +0,23%; Buzz +0,09%.
