A breath of fresh air for the European stock exchanges, which are all in positive territory at the end of the morning. Pink magic is up to Milano, up by 1,6%. Well too Frankfurt (+ 1,5%), Paris (+ 1,3%) and Madrid (+0,6%). Outside the eurozone, London travels up by 0,7%.
To trigger the sales on the price lists was the publication of the PMI indices relating to the manufacturing sector. The data for October are in fact the best of the last 27 months and confirm the positive trend that began in July.
Here is, in detail, how the European PMI manufacturing indexes changed in October (source: survey by Markit of purchasing managers in the sector).
Italy
- PMI manufacturing index at 53.8, from 53.2 in September. The rate of expansion, while still marginal, was the largest in the current three-month growth sequence.
Eurozone
- PMI manufacturing index at 54,8, from 53,7 in September. The value is higher than the previous flash estimate.
Germany
- PMI manufacturing index at 58,2, from 56,4 in September. This is the best figure since March 2018. Both production and orders are improving.
France
- PMI manufacturing index at 51,3, from 51,2 in September. Output growth slowed to a 5-month low, but orders accelerated at the fastest pace in a year.
Spruce Brittany
- PMI manufacturing index at 53,7, from 54,1 in September. Despite the decline, the result is still above the flash estimate (53,3). The figure is confirmed above 50 – which marks the boundary between expansion and contraction – for the fifth consecutive month.
As for the most prominent titles in Piazza Affari, the best increases are those of Saipem (5,24%), Tenaris (+ 4,22%), Banca Mediolanum (+ 4,01%) and Buzzi Unicem (+ 3,69%).
At the end of the price list, however, we find Recordati (-1,78%), Italgas (-0,56%), Campari (-0,47%) And Diasorin (-0,37%).
On the debt side, it BTP-Bund spread on the 10-year maturity it stands at 134 basis points, substantially stable compared to the last closure.
Gold up 0,46%, to 1887.67 dollars an ounce.
Finally, on the currency front, the exchange rate euro-dollar it is little moved, at 1,16423.
