Brexit or no Brexit? After the London High Court decision of defer the choice to parliamentToday's question looks like this. A Hamletic doubt that adds to the many that keep the markets on the razor's edge, from the US elections to the Italian constitutional referendum, from the choices of the Fed to those of the ECB.
Stock exchanges are having a nervous day today. In Europe, Milan closes at -0,33%, Frankfurt -0,43%. Just below Paris parity, -0,07%. London is doing worse, -0,80%, in the wake of the day's news. By contrast the pound appreciates against the dollar, in view of a potential reopening of the games. Even Wall Street opens timidly and after an attempted rebound, the three main lists go into the red. Overall sentiment remains cautious for next week's presidential election. Trump or Clinton? Some polls show the two candidates tied, while the Mexican peso, a kind of barometer of the electoral climate, is declining against the dollar, therefore unfavorable to Hillary. Fear is called Donald, even for the luxury sector. If he wins, Exane Bnp Paribas experts say, the dollar would go down due to the candidate's protectionist approach and there would be downward pressure on the prices of luxury goods in the United States. Among the stocks, Facebook suffers, despite a brilliant quarterly, because it expects a drop in advertising in 2017.
Banks remain weak in the Ftse Mib, apart from Intesa Sanpaolo which scores +1,19%. The Bpm and BP travel about half a point below parity. For Unicredit -0,09%, on a fluctuating day. According to press reports, he is thinking of reducing the board of directors to make the action of the board more effective.
Mps loses almost one point (-0,94%), which in the report to the shareholders' meeting for the capital increase, calls into question the referendum and the "substantial unwillingness shown by institutional investors to make important investment decisions relating to Italian companies before knowing the outcome of the constitutional referendum”. Bad Ubi Banca -2,62%.
Brembo down -2,36%; on the opposite front Luxottica +2,96%. Mediaset dropped 1,61%, while the November 8 hearing for the seizure of 3,5% of Vivendi is approaching, after the break with the French on Premium. Also in the Berlusconi house, following the ECB's decision, Fininvest's voting rights on 20,1% of Mediolanum (+0,91%) are suspended.
Out of the main list, after yesterday's collapse, Stefanel shines (+19,05%), which today filed the appeal for the composition with the Treviso court; thud for the Sole 24 hours (-9,09%).
Euro little moved, oil below 45 dollars a barrel in NY, gold on the rise as a safe haven asset. The spread of the BTP on the German XNUMX-year decreases (-0.45%), but the Teutonic pressure on Draghi continues: according to Finance Minister Wolfgang Schaeuble, the ECB 'has reached the limit of its possibilities' in terms of monetary policy. Today the ECB, in its bulletin, confirms "a moderate but constant recovery for the economy of the euro area and a gradual increase in inflation".
