The Milan Stock Exchange +0,2% starts the week on the rise (Fte Mib index over 22.750) also under the impetus of the promotion of the Italy rating by S&P. The Madrid Ibex index rebounds: +1,4%. This morning the Spanish government is expected to take over from the Catalan government, dissolved on Saturday after the proclamation of the Catalan Republic. The Catalan banks are tonic: Banco Sabadell gains 3,7%, Caixabank jumps more than 4%. Modest variations in both Paris -0,1% and Frankfurt +0,1%. Outside the Eurozone, both Zurich +0,1% and London +0,2% are in positive territory.
The euro zone economic sentiment index rose to its highest level since 2000 in October. The Acri-Ipsos survey carried out ahead of Savings Day signals an improvement in terms of satisfaction with one's economic situation even if there is still a marked division between North and South and the exit from the crisis "still appears far away". “Fear and worries, while still present, are giving way to a more calm and confident attitude in the future – points out the pollster Nando Pagnoncelli -. The perception of the crisis, for the first time, seems to be attenuating, which reverberates on a greater propensity to consume, even at the expense of savings”.
This morning the Treasury auctioned all 5 billion euros of medium- and long-term BTPs with sharply declining rates. In detail, Via XX Settembre has sold 5-year BTPs for 2,5 billion euros with a yield decreasing to 0,58% from the previous 0,83% and 10-year BTPs for 2,5 billion euro with a yield down to 1,86% from 2,19%. The ten-year yield falls to the lowest level since June, with the spread at 151 basis points, the lowest since August. The Spain/Italy spread remains unchanged at 37 basis points. German Bund 0,38%.
Brent oil rose by 0,4% to 60,7 dollars a barrel, close to the highest since June 2015: last week the increase was 4,7%. Eni is up 0,5%. Saipem +3%. Saras +3%. Strong increase Stm +3,5%. Apple's accounts will come out tomorrow and the first sales projections of the iPhone 10 which mounts a sensor built by the Italian-French jv. Among the banks (sector index +0,3%) Monte dei Paschi falls -1%. The bank announced that it postponed the start of the compensation procedure for the retail shareholders adhering to the exchange offer.
Unicredit is down 0,5%According to Bloomberg, the ECB has opened an investigation into a maxi portfolio of 16,2 billion euros sold in 2017, it seems that the Supervisory Authority has some doubts about the price of the transaction, equal to 13 cents. Mediobanca is up 1% after the shareholders' meeting. Two brokers raised their target price.
Banco Popolare Bpm +1% pending definition of the bancassurance relationship with Cattolica. Ferrari presented a racing supercar, the FXX K-EVO: indicative price of at least 2,5 million euros. The stock rises by 0,7% on the new historical record.
Among the mid/small caps, Isagro +8%, Centrale del Latte +5%, Aeffe +5% advanced. Aedes +6% Igd +4%, new highs since 2015 on the assumption of a extension of the Pir also to the real estate sector. Il Sole 24Ore is priceless in the first day of the capital increase from 50 million, the operation ends on 16 November.
