The European stock exchanges weaken, held back by the deadlock in the tariff negotiations and by the crisis in Hong Kong. The EuroStoxx 50 index slows down (-0,6%), also awaiting the announcements of the US trade representative Robert Lightizer on any tariffs on the European auro. A postponement is likely, but with Donald Trump you never know. At 17pm, Fed Chairman Jerome Powell will appear before congressional committees.
In this frame, they fade into Business Square (-0,97% to 23.500 points) the gains on the eve. It gets worse Madrid (-1,5%): the turn to the left is not appreciated, also because the prospects of the minority government are worse than precarious. Below 0,8% Frankfurt, down half a point Paris, as well as London.
As for the macro picture, industrial production September slightly better than expected in the Eurozone: +0,1% on month, -1,7% on year.
Plus sign for safe-haven assets: thegold, which gained 0,6%, to $1.465, moving away from the lows of the last three months. Third day of decline instead for the Brent oil, at 61,7 dollars a barrel. All oil-related companies down: in Milan Saipem -3% Tenaris -2%.
Contrasted the trend of Btp in auction today, even though the entire $7,25 billion was allotted at escalating rates. The new seven-year bond recorded a demand of 4,1 billion against an offer of 3,25. The gross yield stood at 0,91% against 0,6 in October. The 3-year, placed at 0,22%, marks an increase of 5 basis points. Finally, the 30 year old was assigned 2,29%.
After the recent highs, profit-taking has taken off, especially on cars and banks.
On the front of the four wheels they suffer Pirelli (-2,9%), fca (-1,5%) and Brembo (-1,8%).
Prysmian collapses after the accounts: the title, after a passage in a volatility auction, is the worst in the Ftse Mib.
Between the banks down Unicredit (-2%) And Where's Banca (-1,1%). Bucking Mediobanca (+0,5%): the market smells the air of confrontation with Leonardo Del Vecchio, by now the first shareholder of Piazzetta Cuccia. They hold asset management securities: Azimuth -0,5% FinecoBank -0,1%.
In recovery Salvatore Ferragamo (+3%), despite the clashes in Hong Kong that affect luxury. Moncler (-1,5%) initiated a restructuring of the chain of control headed by Remo Ruffini.
Vola sapphire (+6%). In the third quarter, net sales of continuing operations amounted to 212,8 million euros, up by 2,2% at current exchange rates and substantially in line with the previous year at constant exchange rates (+0,1%). .
Weak too Enel (-0,9%) after accounts that confirmed the positive estimates. The group closed the third quarter with an Ebitda of 4,5 billion euros, just above analysts' expectations. Net debt at 46,5 billion euros, one billion euros above expectations. The company has slightly revised its 2019 target for Ebitda upwards.
A2A it moves down by 1,5%: profit-taking has started from the highs of the year reached during the week. Profits for the first nine months amounted to 250 million.
Brakes Mediaset (-3%) after the results of the quarter: operating loss equal to 39 million euros, in line with the expectations of the consensus of analysts. As for advertising, the company said it's even more volatile than usual. The financial director Marco Giordani ruled out the launch of a takeover bid on ProSiebenSat1.
Also noteworthy is the leap forward of Fiera Milano (+3%) and of Tinexta (+ 2%).
