Luxury, cars and the hope of a vaccine in the short term restore some confidence on the markets and help the rebound of European lists after yesterday's crash. Even Wall Street, positive at the start, is moving forward after three days of declines.
Piazza Affari closes with a 1,7% gain at 19.389 points, while purchases also return to bonds. The spread between Italian and German ten-year bonds falls to 127 basis points (-6,47%), while the BTP rate settles down to the minimum at +0,65%.
Leading the European markets is Paris, +2,26%, where Louis Vuitton (+7,34%) is the best title, followed by all the big names. Thanks to a quarterly performance higher than expected, despite revenues down by 7% (analysts predicted -10%). Above all, clothing and leather goods supported the budget, with the coveted bags even bringing double-digit growth against forecasts of a 1% drop. Frankfurt did well +1,6%; Madrid +0,5%; London +1,5%.
Among the most bought sectors is the automotive one, following encouraging numbers in registrations. Indeed, after eight months of collapses, the car market in Western Europe (EU + EFTA + United Kingdom) recorded the first positive sign of the year in September. Registrations, according to data from Acea, the association of European manufacturers, were 1.300.050 with an increase of 1,1% on the same month of 2019. Since the beginning of the year, 8.567.920 cars have been sold, on the 29,3th, 11,8% less than the same period last year. FCA did well, with 2019% more registrations than in September 33,9 (-XNUMX% from the beginning of the year).
Good news also arrives from the USA on the vaccine against the coronavirus: Pfizer (+2,7%) has announced that as soon as the data on the safety of the drug developed with the German partner Bion Tech (+2%) becomes available, probably in the third week of November, the first doses of anti-Covid serum could be available. The company is ready to request emergency procedure from the US FDA if this month's trial data is positive.
This bundle of news is like a fertilizing drizzle on the markets, well fed by central banks, but dried up by the inexorable march of the pandemic which is carrying out its second assault in Europe just as the general winter is approaching. Unfortunately, the daily bulletin of infections also remains alarming in Italy, which reaches a new record with more than ten thousand positives today. Numbers that lead the government and regions to evaluate other restrictive measures, actions that intervene on an already very tested economy, so much so that the governor Ignazio Visco warns that it will take at least two years to return to pre-Covid levels.
In this context, oil remains negative and, while limiting losses, Brent futures drop 0,44% and trade at 42,97 dollars a barrel. Spot gold dropped 0,3%, around 1902 dollars an ounce. On the currency market, the euro is little moved against the dollar and the pound, even if Boris Johnson has told the British to prepare for a divorce from Europe without a trade deal and the EU has branded his words as rhetoric and is preparing for new negotiations .
In any case, Piazza Affari raises its head, driven by Bper, +8,1%, which recovers part of the losses suffered in recent weeks near the deadline (Monday) for the negotiation of the rights to the capital increase. It should be remembered that the Modenese bank has launched a capital increase aimed at the purchase of 532 bank branches of Intesa Sanpaolo (+1,18%), put up for sale to complete the merger of Intesa with Ubi Banca.
The recovery affects almost the entire banking sector of the Milan stock exchange, starting with Banco Bpm +2,86%. In the other sectors, the session is particularly positive for Atlantia, +4,73%, with the market betting on an agreement with CDP. In the automotive sector, Fiat +4,23%, Ferrari +3,41, Exor +2,91%, Brembo +2,6% performed well. Cnh +3,85% and Buzzi +2,87% rose. In luxury, Moncler +4,1% are tonic; Ferragamo +1,63%; Cucinelli +1,78. Oil companies raise their head starting from Tenaris, +3,6%.
In the pharmaceutical sector, Diasorin appreciates +2,96%. Well Leonardo +2,31%, despite the condemnation of the president Alessandro Profumo for Mps (-2,51%). There is only one pale red blue chip: Inwit -0,33%.
