The European stock exchanges find the way to rises despite the start in negative territory and the new record for European unemployment. Milan +0,88% while the Btp bund spread is at 277 basis points, London +0,37%, Frankfurt +0,26%, Paris +0,71%.
The positive fact is the increase in confidence in Europe: in December, the index that measures confidence in the business and consumer economy (ESI) of the European Commission's Economic Affairs DG recorded an improvement of 1,3 points, rising to 87 points in the Eurozone, while in the EU it remained substantially at the level of November although reporting a slight improvement (+0,3% to 88,4 points). The improvement in the Eurozone affects all sectors except retail sales.
In the morning, the lists had been affected by some negative macro data. In particular, the data on unemployment in November which rose to 11,8% with an increase of 113 units while in the whole of the European Union of 27, unemployment last November was recorded at 10,7%, stable compared to the previous month (in November 2011 it was at 10,0%). Youth unemployment in the Eurozone is 24,4% (24,2% in October): 3,788 million people, 420 thousand unemployed young people more than a year ago. For the EU 27, the youth unemployment rate is 23,7%. In Italy unemployment in November was 11,1%, stable compared to October 2012 (9,3% a year earlier) while youth unemployment, Istat announced, was 37,1%. In one year the jobless increased in 18 of the EU-27 member states, while employment improved in seven countries including Germany (from 5,6% to 5,4%) and the Baltic republics.
Then there is the decline in industrial orders in Germany which fell by 1,8% in November on a seasonally adjusted basis and by 1% on a non-seasonally adjusted basis against estimates for a more contained decline around 1,4, XNUMX%.
Now the markets are looking towards the start of the earnings season with, as usual, Alcoa's results which will be released in the USA after markets are closed tonight.
Purchases on the banking sector return to Piazza Affari benefiting from the Basel III news. Banco Popolare rises by 3,27%, Mediobanca by 3,09%, Unicredit by 2,63%. On the other hand, Mps took advantage -1,49% after the rally of the last few weeks.
Generali +1,25% after announcing the agreement with the Czech financier Petr Kellner to purchase its stake in the joint venture in Eastern European countries (iil 49%). The purchase will be in two tranches of 49% of the joint venture with PPF in Eastern Europe for 2,5 billion. Leone's number one, Mario Greco, also announced that non-binding offers for US and BSI assets put up for sale by the Trieste-based company are scheduled for the week.
After a 2% jump Mediaset marks +0,99%, marking a recovery of about 50% since last November 16 when the group closed the first quarter in the red in its history.
Immsi's leap continues +6,23% despite the fact that the company has denied negotiations for the sale of its stake in Alitalia with reference to press rumors relating to an interest by Air France for the remaining 75% of Alitalia, of which Immsi owns 7,08%. At the request of Consob, confirming the declarations already made by Air France (which denied wanting to take over the shareholdings of the Italian shareholders), it denied the existence of ongoing negotiations concerning the sale of the shareholding. Immsi, he specified in a note, in the absence of further elements, believes that these press indiscretions may have influenced the performance of the stock.
Sprint also by Gemina (+7,97%) on the hypothesis of an acceleration of the merger process with the parent company Atlantia. According to press rumors, the technicians are currently working hard on the dossier with the aim of concluding the analysis by the end of January and then eventually bringing the operation to the board of directors in February.
