No, it's not a dream. The Toro it continued its run, wrong-footing a good part of the forecasts in the first two sessions of October. on wall street theS & P500, up 3,1% yesterday with 497 companies out of 503 positive, achieved a gain of +5,7% in the first two days of October, the best two-session performance since April 2020. Business Square yesterday with a +3,42% it was no different. And this morning she joined Hong Kong +5,50%, on the reopening of the lists after the holiday (while today the Chinese lists and the Mumbai stock exchange are still closed). No, it's not yet the time to celebrate: the European markets, undermined by the drop in energy and Wall Street are slowing down this morning. ll EuroStoxx 50 index futures loses 0,4%. Same variation for the Nasdaq futures. Tokyo Nikkei is starting to close up by 0,3%.
Icahn, wins 300 million lottery on social media
However, the usual took care of upsetting the markets Elon Musk. The pyrotechnician patron of Tesla changed his mind again: will buy Twitter at the same price offered in April and then withdrawn, or $44 billion. A forced move because in a few days the judges would have forced the entrepreneur to respect the promise. Twitter shares rose 22% yesterday, celebrating the old foxes of Wall Street: Carl Icahn, writes the Wall Street Journal, earned 300 million dollars in less than six months betting against Musk; not bad, in times of recession.
The US job market is holding back, the stock exchanges are partying
The early quarter rally, triggered by the sharp decline in activity US manufacturing and, above all, from the rapid drop in the job offer, however, it is not an isolated flare-up. The signals, including the cautious attitude of the Central Bank of Australia, they say the grip of the Fed it is working to the point where traders are hoping that a rate hike is imminent. Hence the slowdown in bonds and the rise of the dollar which fueled the European rally.
The euro is getting closer to parity with the dollar
• The yield of Treasury Notes ten-year contracts at 3,63%, two-year contracts at 4,09%. The dollar index is back on the rise after five consecutive sessions of decline, 110,4.
• Euro it improves against the dollar to 0,996 (+1,6% yesterday).
• The race for bond yields slows down in Europe: lo spread between 10-year BTPs and Bunds with the same duration, it fell by 230 basis points (-0,8%) and the rates fell respectively to 4,18% and 1,88%.
The desire for luxury explodes in Europe, Msci Global at the top
• The desire for luxury has exploded on the European stock exchanges, until now repressed by the news arriving from the East: in Milan Moncler with a +8% leads the race, followed in Paris by Essilor Luxottica +7,7%. The flagship also flies lvmh + 6,1%.
• The rally in western stocks dragged down the index MSCI World, which summarizes the trend of global stock exchanges. Yesterday the best session of the year closed up by +3,4% at 2.511 points.
Oil flies while waiting for Opec +, holds back gas
• In the spotlight today the Petroleum, +3,3% yesterday. The rally in recent sessions (+10% in one week) was driven by the weakening of the dollar and by the expectation that theOPEC+, which starts today in Vienna, decide a production cut in the order of one and a half million barrels per day advocated by the Saudis. Prince Mbs accelerates on the expenditure front: yesterday the launch of a ski resort was announced, no one knows where. Meanwhile Biden he is lobbying to avoid such a reduction in production at a difficult time for him, because we are on the eve of the Midterm elections and getting to the vote with rising petrol prices is not a good omen.
• The European gas travel on minimi from July to 162 euros. Europe is working to find a solution to the problem. Germany is ready to discuss measures that could contain gas prices and electricity in the European Union, said German Finance Minister Christian Lindner. If the EU will approve the gas price containment measures at which Italy is working, "to see the electricity and gas bills go down, I believe that in the best case scenario it will take two or three months", said the Minister of Ecological Transition, Roberto Cingolani who yesterday visited Giorgia Meloni.
• Also improves gold. Yesterday, it closed its sixth positive session in a row up 1,5%, driven by the easing of pressure on rates and the US dollar.
In Piazza Affari: Diasorin in the USA, Stm and automotive contracts
Diasorin announces this morning that its subsidiary DiaSorin Molecular will work with a branch of the U.S. Department of Health and Human Services to support the clinical validation of LIAISON® NES, the new CLIA-waived molecular Point of Care (POC) platform for proximity diagnosis of infectious diseases. The company's goal is to obtain 510(k) approval from the US Food and Drug Administration (FDA).
Terna. The decree authorizing the construction of the 'Tyrrhenian Link Ramo Est', the section of Terna's submarine power line that connects Campania and Sicily, was signed by the Ministry of Ecological Transition.
Stellantis, Iveco, CNH Industrial. Unions will demand a wage hike of at least 6,5 percent for 2023 for company workers to help them cope with soaring energy bills and rising food prices, two sources told Reuters.
Anima. Reuters refers to the possibility that Poste Italiane [PST.MI], currently at 10%, will increase its share, in order to guarantee the Italian nature of the asset management company.
Maire Tecnimont wins new orders for 200 million in the technology-driven business.
