Markets bullish with Brexit appearing to be at a tipping point and some big banks rushing Wall Street after record bills.
European stock markets, already well tuned in the morning, accelerated in the afternoon towed by New York and closed up, with the exception of London (-0,02%), penalized by the pound up on the euro and dollar.
Piazza Affari gains 1,21% and rises to 22.365 points, in line with Frankfurt +1,16%; Paris +1,05%; Madrid +1,15%; Zurich +0,9%. Even the Wall Street indexes rise by about one percentage point and the Dow Jones moves beyond the threshold of 27 points. Some quarterly reports from the big banks are putting the turbo on American stock markets, expected to be tested in a context of declining rates. The biggest star shines, Jp Morgan (+3,9%) which largely exceeded expectations, achieving record revenues in the quarter. Citigroup did well (+1,9%) while Goldman Sachs (-0,45%) and Wells Fargo (+3,86%) disappointed. BlackRock (+2%), the world's largest asset manager, reported an 8% drop in third-quarter profit, but worse was feared. The positive results of JpMorgan Chase, but also of UnitedHealth and Johnson & Johnson allay fears of a negative fallout from the prolonged trade dispute between China and the United States.
European markets are therefore shelving, for the moment, worries about the International Monetary Fund's downward estimates for Germany, France, England and Italy and are instead looking at the possible improvement on Brexit before the European summit on Thursday and Friday. The meeting point between the parties could be the choice to leave Northern Ireland in the British customs territory, applying the Community customs rules.
This possibility pushes the euro against the dollar, with the exchange rate moving slightly positive in the 1,104 area. The single currency retreats instead against the pound and trades at 0,8674. Gold falls to 1486,25 dollars an ounce. Oil remains on the sidelines, with Brent at 69,38 dollars a barrel (+0,05%), after yesterday's crash.
In Piazza Affari, purchases primarily reward industry and banks. the top ten blue chips of the session are Pirelli +3,5%; Stm +2,45%: Prsymian +1,98%; Buzzi +1,96%; Unicredit +3,18%; Bench Bpm +2,8%; Finecobank +2,791%; Ubi +2%; Bfor +2,15%; Mediobanca +2,08%.
Sales are limited to Juventus -1,15%, after yesterday's sprint and utilities. Italgas -0,73%: Snam -0,53%; A2a -0,53%.
Out of the main Bio On list, +18,62%, takes revenge for the second consecutive day, while Gedi loses 1,88% after the surge on the eve, waiting to see what will happen to the publishing group and who will prevail in the clash taking place in the De Benedetti family. Without reference to the Italian Succession, the Financial Times writes today that perhaps it is better to disinherit children. According to statistics, in fact, 70% of family assets run out within the second generation and 90% within the third.
Bonds moved little: the spread between Italian and German ten-year bonds closed at 136 basis points (-0,37%)
