Le European stock exchanges they close the session in no particular order. Paris leads the rise with the boost from the rally lvmh (+13,48%), rising after a better-than-expected quarterly report and a more relaxed political climate. The Prime Minister Sébastien Lecornu He announced that the suspension of the pension reform will be presented to Parliament by November, partially accepting the Socialists' demands and strengthening the stability of the executive. Frankfurt, Madrid e London close below par (-0,16%, -0,02% and -0,3% respectively).
Piazza Affari is the worst, with the Ftse Mib at -0,4%, weighed down by the banks and the collapse of nexi (-5,45%), penalized by the downgrade by BNP Paribas (rating “Neutral”, target 5,30 euros). Sales also on Mediobanca, Banco Bpm, Mps, Bper e Pop from Sondrio, in the wake of fears about the extraordinary contribution requested by the government from the sector. Bucking the trend is the luxury sector, with Moncler, BRUNELLO CUCINELLI, and Ferragamo on the rise thanks to the driving effect of LVMH.
Among the titles under the spotlight Stellantis, which announced a $13 billion plan over four years to boost its operations in the United States and strengthen local manufacturing. Also doing well Telecom Italy, supported by news from France, where Bouygues Telecom, Iliad and Orange have submitted a joint offer to acquire a significant stake in Altice France's operations.
overseas, Wall Street continues to rise thanks to the record results of large banks. Bank of America, Goldman Sachs, Wells Fargo e Morgan Stanley They beat expectations, thanks to solid investment banking revenues, mitigating the impact of tensions between the United States and China. However, concerns remain over the new 100% tariffs threatened by Washington and possible retaliation from Beijing.
The Gold has hit a new intraday record above $4.200 an ounce, driven by geopolitical escalation and expectations of further Fed rate cuts, which have sent Treasury yields down to their lowest levels in recent weeks.
On the currency front, euro up to $1,16. The Petroleum remains positive, with November WTI at 59 dollars and December Brent at 62 dollars a barrel. The decline is gas Amsterdam TTF, at 31,5 euros/MWh.
Lo spread The BTP-Bund bond spread remains stable at around 81 basis points, with the yield on the Italian 10-year bond at 3,39% (from 3,42%).
READ MORE Why Powell's words are inspiring a rate cut di G. Bruschi
