The European stock markets are taking a break for reflection after the run of the last five sessions and close a volatile day mixed, conditioned, in the afternoon, by the uncertainty of Wall Street. Milano loses 0,25%, stopping at 19.681 points; Frankfurt -0,68%; Paris -0,46%; Madrid -0,77%; London +0,08%; Zurich + 0,20%.
Global attention is still paid to White House and to its next tenant, which in all likelihood it will be Joe Biden. But Donald Trump does not intend to step aside without legal battles. Investors thus pull the oars in the boat before the weekend, after having celebrated in recent days the possibility that everything will change without too much change, with Congress divided and the Senate in the hands of the Republicans.
Piazza Affari also finds a balance in the wake of the quarterly reports of important stocks. They keep the tone of the price list high Inwit (+ 3,96%), nexi (+ 2,42%), Cnh (+1,89%) ed Enel (+1,33%). On the latter, S&P confirms the 'BBB+' rating for solidity performance in the quarter and simplification despite the outbreak of the coronavirus: “Enel's operating performance has been solid throughout the Covid-19 pandemic and Ebitda in 2020 should increase to 18 billion euros from the 17,7 billion recorded in 2019, thanks to the 'addition of renewable energies and to the solid performance of the grid”.
It collapses instead Leonardo (-7,23%), after the results of the third quarter better than expected orders, revenues and margins, while free cash flow was lower than forecasts. The deterioration, says a note, is due to the "shift in the fourth quarter of invoicing and collection milestones and machine deliveries due to the Covid-19, which led to a significant increase in working capital with consequent cash absorption". But, according to a broker, "the free cash flow data is worrying because it means that the company is burning cash".
Sales hit Unipol (-ten%); Unicredit (-ten%); Bper (-3,23%) And Atlantia (-2,5%).
Out of the main basket, Ps earns 3,26%. Mediaset it lost 1,22%. As reconstructed from Republic, the government should include a rule in the Ristori decree being approved today that could defend the snake from the takeover by Vivendi.
The finale was waning for Astaldi (-0,29%), but not for Webuild (+3,17%), after the latter subscribed the reserved capital increase, taking a new step towards the creation of the Italian construction champion.
The rally of the Italian secondary market does not stop, waiting for this evening, with the markets closed, Moody's review the rating on Italy. Currently the rating is Baa3, one step above junk, with a stable outlook and will probably remain unchanged in the light of the ECB's policy, which allows the country to finance itself at low costs in such a delicate phase.
Lo spread with the German 123-year bond it drops to 2,43 basis points (-XNUMX%) and the rate of BTP it remains in the historic low area at 0,62%.
Meanwhile, the Treasury has set the series of guaranteed minimum coupon rates for the second issue of the BTP Futura, which will take place from 9 to 13 November next, unless closed early. The sequence provides for a rate of 0,35% from grades 0,60 to 1, 3% from grades XNUMX to XNUMX, and XNUMX% from grades XNUMX to XNUMX. The definitive coupon rates will be announced at the close of the placement, and may not be lower than the guaranteed minimum coupon rates. Furthermore, the coupon rate for the first XNUMX years will remain unchanged, while based on market conditions, only the rates subsequent to the first may be revised upwards.
On the currency market the euro-dollar it is approaching 1,19. Among the raw materials, oil has started to fall again: Brent loses 2,76% and drops to 39,80 dollars a barrel. Gold is flat at $1950,025 an ounce.
Lastly, on the international scene, the news reported by Corriere della Sera is Vladimir Putin is preparing to retire from politics due to his deteriorating health condition. The Russian president would suffer from Parkinson's disease and would have decided to give in to pressure from his family. An announcement in this sense could arrive as early as January. The sensational scenario is revealed by the political scientist Valery Solovei, who was a professor at the State Institute of International Relations in Moscow, before being dismissed in 2019 because he was considered too critical of the Kremlin. The academic confirmed to the Courier the statements made earlier in an interview with the broadcaster «Echo of Moscow». The news had no effect on the Moscow Stock Exchange, which closed up 1,2%.
