This morning signs of easing prevailed on the financial markets, both on the geopolitical front and on the economic situation. But Dutch central bank president Klaas Knot anticipated that the International Monetary Fund (IMF) will announce today a cut in estimates on world economic growth due to the uncertainties surrounding the trade war between the US and China and Brexit.
Piazza Affari rises by 0,6% over 22.300 points, in line with the increases in Paris +0,5% and Madrid +0,4%.
Frankfurt +0,6%. The Zew index based on the expectations of the German financial community in October worsened slightly to -22,8 from -22,5 in September, the consensus was slightly more negative (-26,4). The Zew index on current conditions drops to -25,3 from -19,9, consensus at -23,6.
London -0,35%. Michel Barnier, the EU's chief Brexit negotiator, said this morning that a deal could come this week. "There is some optimism, he is trying to get an agreement tonight," Luxembourg's foreign minister Jean Asselborn told reporters after Barnier briefed union ministers on the latest developments regarding Brexit. “Otherwise, we will probably need another summit this month.” Bank of England Governor Mark Carney warns that the financial market could be very volatile in the coming weeks, as the moment of truth on Brexit approaches. Carney was heard today by a Parliament committee.
To give tone to the session are the latest developments in trade negotiations: A spokesman for the Beijing Foreign Ministry said China is stepping up its purchases of agricultural commodities and livestock from the United States. Geng Shuang also acknowledged the existence of a pre-agreement; previously, Beijing only spoke of improving the deal.
Zero percent US interest rates, asset purchases and pledges of supportive policies are still on the Federal Reserve's agenda for an "ordinary recession," the St. Louis Fed chairman said. James Bullard.
Il Wti oil is declining by 1,8% to 52,6 dollars a barrel. Crude oil prices continue to slide today after two days of weak Chinese data. Eni +0,4%. Saipem +0,8%. Saras +2%.
Banks go up. Unicredit +0,8%, Intesa +0,3%: the president Gros Pietro has announced that the bank will not cancel the interest on the accounts. Banco Bpm up +1,3%. Ubi Banca +0,4% and Mediobanca +1%. The Italian Post Office shines +1,8%. Banca Generali +3%. Soul Holding +2%.
Among industrialists, Cnh Industrial did well +0,3%. Citigroup raises the target price to 13 euros. Pirelli +2%. Fiat-Chrysler +0,4%. Stm +1%. Prismian +1%.
Goldman Sachs has updated its luxury ratings. Ferragamo +0,7%. The investment bank cuts the target price to 18,10 euros and raises the target for Brunello Cucinelli to 43 euros.The stock soars +5,7%.
In the rest of the list:
– Buzz +0,09%. JP Morgan raises the target price to 22 euros. Mediaset +1,4%. Vivendi, second shareholder of the media group, withdrew the urgent appeal in the court of Amsterdam against Mediaset's plan to integrate its Italian and Spanish businesses into a new Dutch holding company.
- Interpump -8%.
