Stock exchanges uncertain in the aftermath of Draghi's announcements. The markets, which for some reacted yesterday with excessive disappointment, are trying to find a direction today but close in opposition waiting for the new intervention by Mario Draghi scheduled for the afternoon at the Economic Club of New York, and postponed to after 18 pm Italian time.
Il Ftse Eb after an ups and downs session, it elicits a rise of 0,12% while London loses 0,59%, Frankfurt 0,34% and Paris 0,33%. TO Wall Street the indices, on the other hand, are clearly up with the Dow Jones gaining 1,37% and the S&P500 +1,13%. The acceleration came with the macroeconomic data in the afternoon pending the Fed meeting on Dec. 16. In particular employment data in November surprised analysts with 211 jobs created against the 200 expected. At the same time the unemployment rate remained stable at 5% in November at the lowest levels since April 2008. The market, now convinced of Janet Yellen's imminent rate hike, focuses on the solidity of the American recovery.
On the other hand, today the governor of the Federal Reserve of Philadelphia, Patrick Harker, said he was in favor of a rate hike in the meeting of the US central bank on 15 and 16 December. “Raising rates will keep the economy on the path to growth and price stability,” he said, saying tightening “it will also allow to reduce uncertainty” on monetary policy. According to Harker, an increase in the cost of money now guarantees a gradual increase in rates in the future”. Postponing such a move "would harm the Fed's credibility by increasing uncertainty." The exchange euro Dollar stands at 1,0887 (-0,48%).
On the macroeconomic front, the trade balance deficit of October which widens, thanks to the decline in exports. The deficit stood at $43,9 billion versus $40,5 billion expected by analysts. Exports fell by 1,4%, imports by 0,6%.
Selling still hits oil on the heels of the decline in the price of Wti dropped briefly below the $40 a barrel threshold during the day after OPEC decision, in line with the predictions of the experts, to maintain the production ceiling at 30 million barrels per day. At the end of the session, WTI oil traded at 40,18 dollars a barrel (-2,19%).
In Italy, Istat has published estimates on the Fourth quarter GDP seen as growing by 0,2% and 0,7% in the whole of 2015. For Istat, however, the difficulties in the recovery of the investment cycle. The Btp-bund spread immediately remained below 100 basis points with a yield of 1,66%.
In Piazza Affari the sales are impressive Mps, worst title of the Ftse Mib, which lost 2,67%, and the oil companies Tenaris -2,17%, Saipem -1,71% and Eni -1,42%. Among the worst blue chips also Ferragamo -1,07%. Purchases reward Yoox +3,01%, Unipol +2,92%, Mediaset +1,82%, Finmeccanica +1,59% on which Deutsche Bank analysts raised the target price to 13,5%. euro, and A2A +1,52%.
