Le European stock exchanges confirm the good reaction in the aftermath of the launch of "soft" tapering by Fed by Bernanke. In Milan the Ftse Eb closes with a rise of 1,78% to 18453,99 driven in particular by the rally of Mediaset and from banks. The other European markets also earn above the percentage point: Paris +1,64%, London +1,43% and Frankfurt +1,68% despite the German Institute for Economic Research in Kiel IfW has cut its estimates of German GDP growth for 2014 to 1,7% (from +1,8 .2015%), while for 2,5 it expects an expansion of XNUMX%. In Italy, the CSC has warned of the downside risks of growth for the next two years and of the danger of collapsing corporate stability. The 2013 estimates also worsen on GDP elaborated by the study center at -1,8% from -1,6% in the last estimate. “The deep recession of the Italian economy, the second in six years, is over. Its effects are not” warned the CsC. The Btp-bund spread closed down at 221 points.
Change euro dollar stable at 1,3664 and euro yen down 0,44% to 1,4227. WTI oil up 0,93% to 98,71 dollars a barrel. Gold dropped by almost 3% to 1.199 dollars an ounce the day after the Fed's decision to reduce the monetary stimulus injected into the market.
You turn off the positive reaction of Wall Street which after yesterday's excellent performance is feeling disappointed by macroeconomic data which seem to contradict the solidity of growth on which the Fed's decision to start tapering was based.
US initial jobless claims rose by 10.000 to 379.000 in the past week, the highest level since March and significantly worse than expected.
Sales of existing homes were also down beyond expectations: -4,3% in November compared to the previous month to the seasonally adjusted share of 4,9 million units. On the other hand, the Philadelphia Fed index rose, rising to 7 points in December. The Dow Jones, the S&P 500 and the Nasdaq thus move weakly below parity.
In Piazza Affari it is a rally for Mediaset galvanized by the announcement of a possible integration between the pay TV activities in Italy and Spain and financial or industrial partners. Mps rises +4,5% which benefits from the transaction with Deutsche Bank on the Santorini operation which will have a positive annual impact of 33 million from 2014.Bpm +5,3% awaiting Saturday's meeting with the agenda appointment of the supervisory board of the institute. Enel Green Power +3,85% and Fiat +3,67% also performed well. On the rise Telecom Italy +2,86% on the eve of the fiery proxy fight of tomorrow's meeting. At the bottom of the Ftse Mib Prysmian -1,23%, Diasorin -0,77%, Stm -0,37%, Ferragamo -0,32% and Saipem -0,27%.
