European stock markets improve in the final and close higher, in the wake of Wall Street's change of pace which, after an opening in the red, is now moving in positive territory, with a series of important quarterly reports. It disappoints Amazon, but Intel is better than expected, like Tesla yesterday and both of these titles fly.
In Europe, we remain cautious as we await developments on Brexit and the verdict of Standard & Poor's on the sovereign rating of Italy, France and Greece, but we also rely on a series of brilliant results from big names in fashion. Paris climbs 0,64%, dragged Kering +9%, which saw turnover take off by 17% in the first nine months of the year, with brands such as Gucci, Saint Laurent, Balenciaga, Alexander McQueen, Bottega Veneta, Boucheron, Brioni, Pomellato.
Also Piazza Affari scores an increase of 0,36%, further improving yesterday's 17-month high to 22.608 points. The credit goes largely to Moncler, +11,33%, thanks to better-than-expected results for the first nine months. The queen of down jackets managed to impress, offsetting the drop in turnover in Hong Kong (-40% in the third quarter) with acceleration in Mainland China, Korea and Europe. The outlook is reassuring with October starting in line with the third quarter, with the exception of Japan. Ferragamo follows suit, rising by 1,9%
In the rest of Europe, Frankfurt +0,16%; Madrid +0,43%; Zurich +0,91%. London is flat, -0,07%, while Jeremy Corbyn says he is ready to support Boris Johnson's request of early elections on December 12, only if the prime minister undertakes to the Municipalities to exclude any hypothesis of no deal divorce from the European Union.
The euro is stable against the pound, while it is losing ground against the dollar, after a brief recovery and the exchange rate is in the 1,108 area. Gold moves beyond the threshold of 1508 dollars an ounce. Oil is slow moving, with Brent at $61,62 a barrel.
In the business square purchases also reward Pirelli +2,49%; Leonardo +2,28%; Prismian +2,14%. Saipem, +1,39% increases vigil earnings. The banks are contrasted: Ubi good +0,87%, Unicredit weak -0,62%.
The sales front starts from Poste, -1,18%, which in any case remains close to its historical highs. Unipol falls -1,11%. Eni loses 0,69%, although the accounts have turned out in line with expectations. The oil group closed the third quarter of the year with a net profit of 523 million euros (-66%), adjusted to 776 million (-44%). Banca Imi, Equita and Akros confirm the buy, while Ubs defines the good accounts where it counts, but other analysts are partially disappointed. Nexi -0,67%.
The bond is little moved, with the spread between Italian and German XNUMX-year bonds up slightly to 141 basis points. The ECB specifies today that it will launch the new 'quantitative easing' purchase program starting from 30 October, with the first settlement date on 19 November. In line with previous editions, purchases will stop at Christmas, from 2020 December to XNUMX January XNUMX, due to the lower liquidity of the market.
