The European lists archive a gray session, orphaned by the colors of Wall Street, closed for Thanksgiving. The US respects the traditional holiday, but with the many limitations imposed by the pandemic and also in Europe, while discussing Christmas and the ski slopes, we are forced to deal with a second wave of infections that is struggling to slow down , especially in Germany. After the euphoria recently induced by the good news on the anti Covid vaccines, Frankfurt -0,01% and Paris -0,08% are flat today; lagging behind are Madrid -0,73% and London -0,45%.
Piazza Affari loses 0,46%, with trading at a flicker, after two sessions closed with transactions for over 3,3 billion. On the other hand, a break seems physiological, given that Milan could close the month of November with an increase of more than 20%.
The banks, which have been running lately, are retreating, above all Unicredit -2,46% and Bper -2,59%. Banco Bpm drops 1,62%, despite having largely exceeded the capital requirements confirmed by the ECB for 2021. In any case, attention remains high on the various courtships underway in the sector, while Credito Valtellinese does not retreat, +1,3 % (11,498 euros per share), after the board of directors judged the public offer launched by Credit Agricole Italia for the Lombard bank to be "unexpected and unacceptable". The share price moves away from the offer price to 10,5 euros with the market betting on something new, perhaps a raise as happened in the case of Intesa (-0,67%) with Ubi.
Realizations hit Azimut -2,31% and Banca Mediolanum -2,11% in asset management; Leonardo -2,12% among industrial stocks; Saipem -2,13% among oil companies. The mood of the basket is supported by Telecom, +3,92%, in ferment for the single network project with Enel which could give the go-ahead to exit from Open Fiber in mid-December.
Well A2a +4,18% together with other utilities such as Hera +0,52%. Money for Pirelli +2,4% and Stm +1,75, the latter driven by rumors about the details of Elon Musk's contract with SpaceX for supplies regarding the Starlink global satellite internet project.
Amplifon +1,15%, Diasorin +1,01%, Recordati +0,99% rise again after the losses of recent days. The session is pale red for bonds: the spread between Italian and German ten-year bonds rises to 115 basis points (+1,17%), but the BTP rate does not break the all-time low, +0,57%.
On the primary side, the yield on six-monthly Treasury bonds also hits a new low. Securities maturing on 31 May 2021 were assigned at the negative average rate of 0,518%, down 4 basis points compared to the previous auction. In detail, the Ministry of the Economy offered the Bot for a value of 6 billion and the demand was higher than 13,3 billion with a coverage ratio of 2,22. The security at auction was awarded at the weighted average price of 100,263.
On the currency market, the euro-dollar moved little at 1,19. Oil takes a breather: Brent -1,42%, 47,84 dollars a barrel.
