The red wave has not swept the United States in the Midterm elections, yet it timidly appeared on the markets in today's session, so the European lists close mixed and Wall Street moves down after a deaf start (Nasdaq -1,2%). Good instead Piazza Affari.
The data on theChinese inflation, below expectations due to an economy held back by the anti-Covid restrictions and a growth that is losing momentum globally. In fact, the OECD signals a new monthly drop in the super-index in October (-0,17%). In the euro area the decline is more sustained (-0,24%), especially in Italy (-0,33%) and Germany (-0,39%).
Il dollar regains strength and the euro trades downwards, just beyond parity.
The prices of the T Bond and yields go up again, depressing stocks and US tech stocks in particular.
Back the Petroleum (Brent -1,9%, 93,55 dollars a barrel) and gold flattens out, while cryptocurrencies are worth less and less. The Bitcoin it loses 12% and trades around $17.250.
Piazza Affari stands out in a contrasted Europe
Business Square it is once again among the best and gains 0,36% (23.780 basis points) consolidating at its highest level since June, thanks to the positive performance of the earnings season.
They record fractional declines Frankfurt -0,17% Paris -0,17% Amsterdam -0,98%, which is the market with the largest number of technology stocks. London -0,19%. Well Madrid + 0,52%.
The collapse of the German bank weighs on the index of European banks Commerzbank -6,64%, which saw its net income fall 52% in the quarter.
In London Marks & Spencer, the retail giant, dropped 2,82%, after speaking of a "coming storm" due to higher costs and pressure on household budgets.
Wall Street down. However, fly Meta after the layoffs via email
Wall Street moves lower, especially with the Nasdaq as government bond yields rise ahead of a divided Congress. The red wave of the Republicans has not overwhelmed the US states and the party opposed to Joe Biden will probably have the majority in the House, however narrower than what the experts had predicted. While waiting to understand how the new powers will be defined in Washington and consequently in the world, the prices of T-Bonds are falling and the 4,143-year bond is up to 4,12% from XNUMX% yesterday.
The mood could improve or worsen tomorrow after the release of consumer prices data in October, read from a Fed perspective.
It dominates the stock market Meta (Facebook), +7,9%, the best title on the S&P 500, after the dismissal by email of 11 employees, equal to 13% of the workforce. This is the largest layoff in the 18-year history of Mark Zuckerberg's company. The stock is down 73% year-to-date. It collapses Walt Disney (-11,8%), after a disappointing quarterly.
Recordati and Saipem shine in Piazza Affari, Bper and Telecom go down
Piazza Affari is holding up today's shock wave sheltering behind a large number of quarterly, mostly positive. Among the blue chips the best of the day is Recordati +5,54%, precisely in the wake of the accounts for the period and forecasts; Banca Akros changed the stock recommendation from "Accumulate" to "Buy" and the target price from 48,5 euros to 49 euros.
Iveco rises by 3,73%, in the light of the results announced this morning and the upward revision of the estimates for 2022.
The accounts come to Terna +3,08% and ad Ivy +2,1%. Well Finecobank +2%, yesterday subject to profit taking after the quarter and the improvement of the outlook for 2022-23; Barclays raised its target price on the stock to 17,5 euros from 17 euros.
Among the best titles in the list there is Saipem, +3,64%. The stock was promoted by JP Morgan to "Overweight", with a target price of 1,75 euros.
Between banks Bpm bank is the best and earns 1,84% as a result of third quarter results above expectations for higher revenues and upwardly revised 2022-23 guidance. Equita, in the daily, confirms the "Buy" recommendation with the target price rising to 4,2 euros. Mps loses -3,12% which, apparently, is not even of interest to Giuseppe Castagna, CEO of Banco Bpm.
Unicredit is flat, on the day of the successful placement of a Senior Non-Preferred Green Bond for a value of 1 billion euro.
The list of major rebates resembles the one seen yesterday and is rattled off from another bank, Bper, -2,77% despite the good results shown in recent days. Sales also repeated on Telecom -1,89%, another share that had recently grown significantly on continuous press rumors of a possible public takeover bid on the telephone company.
They retreat Eni -1,35% and stm -0,95%.
The spread goes down
With a final spurt, the secondary closes in green: the spread between 10-year BTPs and Bunds of equal duration stops at 200 basis points (-2,75%), with returns slightly down, respectively to +4,27% and +2,27%.
