Uncertain climate on the markets, concerned by Chinese macro data and the stalemate between the US and China on tariffs. The European lists worsen in the second part of the session, after the weak opening of Wall Street and close with a fractional decline. Frankfurt -0,37%; Paris -0,1%; London -0,76%. Also Madrid -0,2%, rebound attempt fails after recent losses.
Business Square it leaves 0,41% on the ground and drops to 23.481 points. Well Azimuth, +2,59%, bad Italgas -1,51% and utilities. It's an exception Ivy, +0,83% (3,89 euro per share), which in the morning also reaches a new all-time high of 3,956 per share, for a capitalization of approximately 5,9 billion. Merit of the accounts of yesterday, better than expected and targets revised upwards by some analysts.
In the meantime, the ascent does not stop spread, which today comes to 166 basis points, an increase of 7,69%. While the yield of the 10-year BTP rises to 1,32%, that of the Bund of the same duration decreases to -0,35%. The divisions in the majority, the situation of Ilva and the natural disasters do not help the Italian map, while the German one recovers appeal, also because Germany narrowly avoided the recession in the third quarter, thanks to a 0,1 increase in GDP, 4,7%, against expectations for a negative figure. However, global economic sentiment remains weak, also in light of data from China, with Chinese industrial production growing by only 1999% in October and gross fixed capital formation, falling to its lowest since XNUMX.
Wall Street, after an unsettled start, seems to be proceeding on the downward path, moving away from recent records, still kept on a leash by the question of duties, after yesterday the Wall Street Journal relaunched the indiscretion of a slowdown in trade negotiations between Washington and Beijing. According to the New York financial newspaper, China is resisting purchases of agricultural products. This morning, however, the spokesman for the Chinese Ministry of Commerce said that intense negotiations are underway for the removal of the tariffs. New quarterly reports guide the market: Cisco Systems it lost 7,5% after it forecast a 3% to 5% drop in revenue for the quarter on lower global spending on its routers and switches, manufactured in part in China. Walmart fell 0,2% after raising its forecast for full-year earnings. In this situation, the dollar remains strong. L'euro trading on yesterday's levels, in the 1,101 area. Gold is back at $1474,45 an ounce. The Petroleum is stable, with Brent at 62,39 dollars a barrel.
Asset management with Azimut continues to be highlighted on the Ftse Mib, which announces that it has launched a newco based in New York called Azimut Alternative Capital Partners (AACP), to invest in the shareholding of alternative asset managers specialized in private markets, among such as private equity, private credit, infrastructure and real estate.
It is appreciated Diasorin, +2,35%, with some operators linking the strong purchases to the hypothesis of an interest by the US group Thermo Fisher Scientific in the Dutch company Qiagen. The latter has an operational collaboration with the Italian diagnostic company.
Banks are moderately weak, with the exception of Ubi which rises by 0,92%. In recovery Prysmian +1,45%. Well Amplifon +1,14%; nexi +1%%; Telecom + 0,99%.
Sales hit Italgas; Terna -1,47%; A2a -1,43%; Pirelli -1,27%.
Out of the main basket Unieuro it loses 9,62% and falls to 13,16 euros per share, approaching the sale price (12,95 euros per share) of the 16,25% stake in the parent company Italian Electronics Holdings.
