The markets recovered from theslowdown on the rate hike coming from the USA. In Milan, the index advanced by about one percentage point, recovering most of yesterday's losses. Frankfurt +0,8% and Madrid +1% also rose. The most lively rise concerns Paris, on the eve of new anti-Macron demonstrations. Brilliant London +1,4%.
The US is trying to defuse the crisis caused by thearrest of the vice president of Huawei. Donald Trump, says the White House, he was unaware of the blitz. Spotlights turned on today also on data from the American labor market, a key step for decisions on rates. Markets are already eyeing the next European Central Bank council. The expansive policy of Quantitative Easing, aimed at injecting liquidity into the markets, will end in October 2019, but news on the reinvestment of the securities purchased in the program could emerge from the meeting.
In the third quarter GDP growth in the euro area has slowed down to +0,2% compared to +0,4% in the second. Italy, Germany, Sweden and Lithuania are below zero.
“Categorily” denied the resignation of Economy Minister Giovanni Tria. Yields on ten-year BTPs fall to 3,13%, from 3,19% yesterday. You resize it spread down to 290 basis points. The governor of Bank of Italy Ignazio Visco said today that the risk of Italy leaving the euro "doesn't exist" even if "the markets, stimulated by little detailed statements, don't think so".
Oil Brent is up 0,7% at $60,4, after yesterday's losses. The OPEC + Russia meeting continues in Vienna. Reuters reports that Moscow is only willing to cut production by 0,2 million bpd, but only if OPEC offers to cut more than a million bpd. Then there is the problem of Iran, in no way willing to turn off its taps. At Piazza Affari Eni + 1,43 % Saipem + 1,25%.
Recovery day for Piazza Affari. Luxury shines again: Moncler + 1,4% Ferragamo +1%. Even more effervescent Ferrari +1,7% (+3,5% at the opening) which also benefits from the more relaxed climate of the automotive sector, already a victim of the tension on tariffs.
Fiat Chrysler -0,3%, intends to convert an old engine plant in Detroit that has been inactive since 2012 into an assembly plant, as part of its plan to add a new model of the three-row Jeep Grand Cherokee to its lineup. The Detroit News wrote it, citing sources familiar with the plan. The most brilliant title of the Agnelli stable is Juventus +3,1%, launched towards entry into the Ftse Mib index and with the team waiting at great match tonight against Inter.
Utilities are up. Snam + 2,6% A2A + 1,4% Terna +1,4%. The resolution of the Arera (the rate regulator) was published yesterday evening with adjustments to the average cost of capital. Between banks Bper Banking loses 0,93%: the acquisition of Unipol Banca from Unipol is looming +3%. UnipolSai + 1,7%.
International job order day for medium-sized enterprises.
- Salini Impregilo +2%, signed two contracts for the construction of highways in North Carolina for a total amount of 460 million dollars.falck Renewables +4,6%, has signed a preliminary contract for the acquisition of some companies owning five wind farms located in France. Falck Renewables will become the exclusive owner of the companies and will pay Glennmont Clean Energy Coöperatief the sum of 37 million euros, financed entirely from its own resources.
