Oil stocks soar, banks remain on the ground, but in the strict logic of numbers, the day's balance is positive. Business Square closes up by 0,65% and recovers 21.500 points (21.557), with Saipem + 5,34% Eni +2,76% and Tenaris +5,11%, which shoot fireworks. The same climate of trust can be felt in the rest of Europe: Frankfurt + 0,93% Paris + 0,87% Madrid + 0,22% London +1,17%. The push comes in the afternoon from the United States, where Donald Trump throws some water in the crossfire of the trade war. It seems to understand he will introduce an enhanced screening procedure to assess the risks from Chinese investments in American companies that produce technology, instead of imposing China-specific restrictions.
Wall Street opens positive and at the moment travels well in tune.
The oil sector contributes upwards, with the Petroleum Brent type which appreciates by 2,03%, 77,86 dollars a barrel, while the wtf marks +2,92%, 72,59 dollars a barrel. The prices of oil rose on the back of the drop in US weekly inventories, higher than expected and the American threat to hit with sanctions those who do not suspend oil imports from Tehran by November 4th. The ultimatum does not scare Beijing, which will continue to cooperate with Middle Eastern countries, while Russia will evaluate the possibility of buying Iranian oil from a legal point of view.
It weakens theeuro and the exchange rate with the dollar falls to the 1,159 zone. Gold is in the red, in the area of 1254 dollars an ounce.
Positive session for the Italian secondary: the 2,82-year yield falls to XNUMX%, while the spread with the Bund it narrows by 3,33% to 249.60 basis points. The downward movement is favored by a greater appetite for risk, while the president of the Finance Commission in the Senate Alberto Bagnai (Lega) says that the new Italian government will do nothing to damage the euro.
Good news from the Treasury which has allocated all 6,5 billion euros of Boots to six months offered in auction today, with the rate back below 1%. The average yield drops to 0,092% from the 1,213% of the placement in May, when the institutional crisis was in full swing. Demand reached 12,884 billion with a coverage ratio up sharply to 1,98 from 1,19 a month ago. On the macro front, on the other hand, Confindustria has warned of lower than forecast GDP growth in 2018-2019, with the risk of a corrective manoeuvre. It should also be noted that Prime Minister Giuseppe Conte, explaining the government's position to the House and Senate at tomorrow's and Friday's European Council, claims that Italy is against transforming the ESM bailout fund into a European Monetary Fund that "ends up forcing some countries towards predefined restructuring paths". The heavy migrant dossier was also on the table at the meeting.
The decline in the spread is not enough to change the sign of the banks, which remain at the bottom of the list: General Bank -3,23%; Unicredit -1,8%; Ubi -2,21%; Bpm bank -1,8%; Understanding -1,53%. Bad Carige, -1,27%, weakened by tensions within the board of directors. After the resignation of the president Giuseppe Tesauro, today there are those of the councilor Stefano Lunardi.
They close higher Cnh +2,83% and Unipolsai + 2,59%.
Purchases reward Mediaset, +1,34%, on the day of the meeting which closed the doors in Vivendi's face.
This morning, in Cologno, for the 2017 budget and the renewal of the top management, entry was denied to a delegate of Simon Fiduciaria, representing 19,9% of the Biscione capital contributed by the French.
