Positive start to the week for the European stock exchanges which rebound after last week's declines. The markets are waiting for the double appointment with the central banks on Wednesday when both the Federal Reserve and the Bank of Japan will decide on rates: only a minority of economists think that the cost of money will be increased in September.
The Ftse Mib marks a rise of 1,28%, on the day in which the detachment of the interim dividends of Eni and Stm weighs on a technical level. The best European market is London +1,54%, followed by Paris +1,43% and Frankfurt +0,95%. Asia closed higher with Shanghai +0,77% and Shenzhen +1,06%, Hang Seng +0,92%. Tokyo instead stopped for holidays.
Wall Street, which confirms the good intonation of the opening, supports the European markets, complicitly the good performance of oil. Brent rose by 2% to 46,82 dollars a barrel and Wti by 2,18% to 43,97 dollars a barrel. Oil is driven by the expectation of an agreement between the producers during the meeting on 27 September in Algiers and by the failure to recover exports from Libya. The euro-dollar exchange rate is at 1,1177 (+0,21%). The Btp-bund spread closed at 130 basis points (-2,25%) and a yield of 1,32%. On the macroeconomic front, the day is poor in data. The Nahb index of the real estate market rose above the estimates, to 65 points.
In Piazza Affari the best title is Unicredit +4,32% on the day on which the deadlines for submitting expressions of interest for Pioneer expire. Among the interested parties in the first row Poste (with Cdp and Anima) followed by Axa, Amundi, Macquarie, Franklin and Aberdeen.
Also in evidence were Azimut +4,01%, Unipol +3,82%, Yoox +3,46% and Mediaset +3,39%. At the bottom of the Ftse Mib Banco Popolare -2,24%, Eni -1,63%, affected by the technical detachment of the advance dividend, Ubi Banca -1,2%, Bmps -0,99% despite the reassurances of Prime Minister Renzi on the conditions for completing the reorganization in time short.
Outside the Ftse Mib, Ovs +6,57% should also be reported which in a consortium with other subjects came out this morning with an offer of 56 million francs for Charles Voegele, a Swiss chain of stores that has been in financial difficulty for some time. The offer should run from October 26 through November 23, with the deal expected to close by the end of the year.
Again among the smaller capitalization stocks, La Doria slipped by 0,57% after having revised downwards the estimates for 2016 but also for 2017 and 2018 due to the persistence of deflation on sales prices, the increase in the cost of some raw materials and the effects of Brexit.
