Apple ballasts Wall Street and Europe also flies low, closing close to the lows of the session. Piazza Affari stops at 22.274 points, down by 0,52%. Sales focus on Ynap -5,63% and utilities, the latter penalized by the rise in government bond yields.
Indeed, today bonds are particularly suffering: the yield on the 10-year BTP rises to 1,93% and the spread with the Bund to 155.40 basis points (+4,3%), in both cases the highest since the end of October.
In the stock market, banks did well, especially the popular ones under pressure in the last period, Bper +332% and Banco Bpm +2,72%. Against the trend, Intesa, -0,92%. On the other hand, the purchases rewarded Credito Valtellinese, +3,54%, on the day of the meeting for the capital increase from 700 million. According to director Mauro Selvetti, the recapitalization plan is modeled on Unicredit, with the aim of cleaning up the bank from non-performing loans and protecting it from new supervisory requests.
As regards the other lists: fractional losses in Frankfurt -0,72% and Paris -0,69%, while Madrid -0,1% and London +0,09% are practically flat.
The optimism unleashed on the markets yesterday by the approaching approval of the US tax reform, today also leaves room for some profit-taking in view of Christmas. On the US stock exchanges Apple, after the record session on the eve, lost ground with the cut of the rating to neutral by Instinet. It is argued that the relationship between demand and supply of the iPhone X makes it unlikely that estimates will increase over the next quarter.
The euro is back over 1,18 against the dollar. Oil moved little with Brent at 63,48 dollars a barrel (+0,11). Gold stable, over 1260 dollars an ounce. The precious metal gained about 10% over the year.
Among the titles highlighted in Piazza Affari, Saipem stands out, +3,62%; Prismian +1,25%; Luxottica +0,88%%. Well tuned Mediaset, +0,87%, even if the hearing for the dispute with Vivendi ended with nothing done and a postponement to February 27, 2018.
Sales are concentrated on Ynap, which according to Morgan Stanley analysts will maintain revenue growth while cutting margins. Utilities down: Enel -2,66%; Terna -1,95%; A2a -1,52%. Weak Unipol, -1,38%.
