Despite the climate of expectation for the moves of the central banks, the sentiment still favors a sitting in positive territory in the wake of the good closing of Asia. Tokyo +1,08%, Shanghai +1,6% and Shenzhen +1,3%.
The markets are consolidating the confidence that the Fed will not raise rates this year and the expectation of further stimulus maneuvers both in Japan, which must kick-start inflation, and in China, which is increasingly slowing down. Investors were optimistic about the Chinese data on the increase in September, compared to August, of the volume of loans granted by banks.
There are three upcoming key dates for global monetary policy: the board of the ECB meets on 22 October, that of the Fed on 27-28 October and that of the Bank of Japan on 30. Furthermore, the Chinese Communist Party will meet for its annual meeting in the last week of October to discuss the economic plan for the next five years.
Il Ftse Eb it reduced gains at the end of the morning but remained on the rise, +0,24%, driven by the good performance of some stocks. Paris +0,38%, London +0,52%, Frankfurt +0,22%.
EYES ON DEFLATION
The effects of the collapse of raw materials and oil are being felt. In the Eurozone, the annual inflation rate in September fell to -0,1% from +0,1% in August. A year earlier it was +0,3%. In the EU annual inflation rate -0,1% after 0% in August. A year earlier it was +0,4%. In Italy +0,2% after +0,4% in August. In Italy in August 2015 the import price index of industrial products decreased by 1,7% compared to the previous month and by 5,8% compared to August 2014.
In the afternoon, markets awaited US data on September industrial production, the preliminary October University of Michigan consumer confidence index and August net purchases of financial assets.
UNIPOL RALLY
FLY PININFARINA
In Piazza Affari the boost comes from the rally of Unipol +4,19% which leaps to its highest since September. Conversely, sales hit Unipolsai -1,95%. In the insurance sector, Assicurazioni Generali also stands out +1,47%.
Dusting too Mediaset which benefits from the buy promotion by Equita analysts on the expectation of the recovery of advertising. Well too Mediolanum +2,75% e FCA +1,62% rewarded by good data on registrations and the Ferrari IPO, while Cnh dropped 0,98%, among the worst in the Ftse Mib.
Outside the Ftse Mib runs Saras +2,15% thanks to the new plan e Pininfarina +8,22% on the expectations of an agreement with Mahindra.
Still sales instead on luxury penalized by Burberry and from Asian fears. Ferragamo -4,10% and Tod's -0,75%. It also loses ground at the bottom of the Ftse Mib Enel Green Power-1,53%. Fincantieri -0,92% still weak after yesterday's collapse linked to rumors about a 500 million euro capital increase and the difficulties of the Brazilian subsidiary. The company specified that no decision has been taken in this regard, but the performance of the subsidiary Varda weighs above all, which has launched a profit warning for the current quarter and for the whole of 2015: the group accounts for almost a third of the turnover of Fincantieri and is fully consolidated.
