Three days before the elections, the Donald Trump effect ends on the stock exchange, while fly the spread between the Italian decennial and the German Bund. The BTP exceeds a yield of 2% (2,04), a level not reached since July 2015, while the gap widens to 173,30 points basis, up 6,60%. On the other hand, the price lists are rather volatile, with Frankfurt +0,36% and Milan +0,04% being equal; while London -1,43% and Paris -0,92% are down. Unipol, Fiat and Ubi Banca shine in Piazza Affari.
Wall Street opens in the red, in an overall positive week and following a record day for the Dow Jones. Infrastructure projects and the prospect of tax rate cuts soon consoled markets for the defeat of the seemingly most reliable candidate. But today we begin to wonder about moves by the Federal Reserve and Stanley Fischer, vice president of the central bank, from Chile says that the conditions for a gradual tightening are "strong enough", a hike in December therefore cannot be ruled out. “When rates go up, no one can say they are surprised.” Meanwhile the Brent falls to 44,35 dollars per barrel (-3,25%) and theOPEC announces that he touched a production record in Octoberdespite the September agreement for a cut that should be completed at the next meeting on November 30 in Vienna. L'euro loses ground against the dollar (-0,37%) and is trading at 1,08458.
The symptom of a certain malaise in Italy takes the form of spreads. According to some traders, interviewed by Radiocor, the extent of the increase went beyond expectations, even on the primary market rates have shot up by even more than half a point compared to last month's auctions. The concern is that a perfect storm is gathering over the country and the rain clouds are called Trump, constitutional referendum and S&P, which tonight, with the markets closed, however issued its verdict confirming the long-term rating of sovereign debt at BBB-, with a stable outlook.
As for the blue chips of Piazza Affari, the galaxy shines Unipol +7,40% with Unipolsai +3,95%, thanks to the accounts for the first nine months down, but better than expected; according to Banca Imi, which values the share with a buy and target price of 3,6 euros, these are 'solid data' with pre and post tax profits above expectations. Disruptive Where's Banca, +8,32%, while traveling at high speed Fiat Chrysler Automobiles +5,55% and Ferrari +2,24%; Well Mediobanca +2,12%. The biggest increase of the day, outside the main list, is for Soul Holding +18,34%, boosted by the announcement of the agreement with Poste Italiane for the transfer to Anima of the group's asset management company with a view to creating a leading pole in Italian asset management. Furthermore, the consortium formed by Poste, Anima and Cdp today made a formal offer for Pioneer.
Instead, they retreat heavily Prysmiam -4,19%; Buzzi Unicem (-3,19%) after the appreciation in recent days; Telecom Italy -2,94%; Ps -2,52%; Eni -2,12%; Yoox -2,02%.
