POSITIVE STOCK MARKET AFTER THE SUCCESSFUL BOT AUCTION
EYES ON THE FED. DISAPPOINTING THE EU INDUSTRY
The Treasury has successfully placed all 6,5 billion euro of 12-month Treasuries, with the rate falling to 1,456%, the lowest since March, from 1,762% in November. Demand has improved a lot: investors have in fact asked for 12,6 billion euros of securities, almost double the 6,5 billion offered and placed by the Treasury.
Lo Btp/bund spread drops further to 332 points with a yield of 4,67%.
Piazza Affari is moderately up with the FtseMib index +0,34% at 15.637. London and Frankfurt gain 0,23%. Paris retreats by 0,08%.
The worst-than-expected data on industrial production for October in the Eurozone is holding back European stock markets, which was down by 1,4% on the previous month against estimates of an unchanged figure.
The real market test for Italy will be the placement scheduled for tomorrow of Btp, when the Treasury will offer 2,5-3,5 billion euros of the new three-year benchmark and 500-750 million euros of the BTP in March 2026. But in the meantime the spotlights have shifted to Washington, awaiting the outcome of the meeting of the Fed Monetary Committee.
The prospect of a one-year postponement of the Basel 3 rules favors the banking sector: Intesa +0,57%, MontePaschi +1,15%, Banco Popolare +1%. Unicredit loses 0,45%.
Among the insurance companies, Generali 0,39% salt, Unipol recovers (+3%) after yesterday's fall.
Recommended Impregile it, which gained 1,97%, buoyed by Cheuvreux's promotion to outperform from underperform.
Industrial stocks moved little: Fiat -0,28%, Finmeccanica +0,59%, StM -0,86%. Prysmian is positive, up 0,71%.
Mediaset halls +3,3% which benefits from the "buy" recommendation of the American broker Berenberg.
The uptick in utilities continues: Enel salt of 1,01%, Enel Green Power +1%, A2A +0,33%, Atlantia +0,86%.
Brilliant Telecom Italia, gains 1,07%.
