After Mario Draghi's press conference, the European stock exchanges have taken the downward path while Wall Street moves uncertainly. The euro has regained strength rising in a short time above 1,086 from 1,056 (a leap of 2,4%) while the Btp-Bund spread rose again towards 100 and a yield above 1,6%.
The Ftse Mib -2,47% is decidedly red, in line with London -1,95%. Even worse, however, are Frankfurt, which loses 3,13% and Paris -3,16%. The markets were disappointed by the measures announced by Draghi against inflation, judged shy overall. The ECB president, who in today's board meeting cut the deposit rate from -0,20% to -0,30%, also announced that Quantitative Easing will last longer than expected and will be extended to a new type of titles. The decisions were not taken unanimously by the Frankfurt board, but "by a large majority". On the contrary, the Fed is ready to tighten: last night the president, Janet Yellen spoke, stating that the US economy is ready to support a rate hike. Eyes of the markets tomorrow on the labor market data.
A Wall Street the Dow Jones moved just below parity (-0,02%) and the S&P500 dropped 0,33%. Ferrari did well in the first part of the exchanges after FCA shareholders, meeting in an extraordinary meeting in Amsterdam, gave the go-ahead for the red light demerger project. WTI oil rebounds up 0,9% to 40,3 dollars a barrel.
In Piazza Affari on the Ftse Mib, sales particularly hit Campari -4,99% after JpMorgan started hedging with underweight, Luxottica -4,2% paying for the sharp slowdown in the dollar, CNH Industrial -2,87%, Banco Popolare -4,3% and Eni -3,58%. Only three blue chips in positive territory. Snam gains +3,44% and Terna 0,64%, both driven by the publication, which took place yesterday, by the Electricity and Gas Authority of the final resolution on the criteria for defining the rate of return on invested capital for infrastructure services in the electricity and gas sectors. The new parameters on the Wacc (Weighted Average Cost of Capital) regulated in the electricity and gas sectors will be applied starting from 2016 for six years (no longer 4), they are all in the upper part of the range and exceed market expectations.
Yoox is also positive +1,14%. In evidence, outside the Ftse Mib, OpenJobmetis +3,3% on the day of its debut on the Star segment. Mediobanca closed in slight negative territory -0,6%. In the session, the purchases of the stock were supported by the news that the subsidiary CheBanca! has acquired the network of 90 Barclays branches in Italy, with 550 employees and 3 billion in funding. To sell these assets, Barclays had to pay Mediobanca badwill (negative goodwill) of 237 million euro. Confirmed the entry from December 21 of Poste Italiane in the main index of the Italian Stock Exchange, FtseMib, instead of Ansaldo Sts.
