The effect of the truce on tariffs has already worn off. Like Asia, Europe too is registering an increase in market interest in bonds, confirming the progressive decline in risk appetite. The trend is confirmed by the shopping on the Bund, dropped to a yield of 0,28%, to a four-month low. The government bond of Germany moves in line with that of the United States, which reached 2,95%. Because of this the spread with the BTP it widens to 285 basis points (from 284 yesterday).
The weakness of market sentiment was also corroborated by yesterday's inversion of the curve between US bonds between 2 and 5 years: it is the first time this has happened since the financial crisis, excluding very short-term debt.
A Business Square the index drops by more than half a point, just above 19.500 points. Reductions between 0,4 and 0,5% also for Frankfurt e Paris. It gets worse Madrid (-0,8%). London, on the opening day of the parliamentary debate on Brexit, lost 0,34%.
In the aftermath of the meeting of finance ministers of the euro area, the commissioner for economic affairs Pierre Moscovici he affirms that the dialogue between the European Commission and Italy has come to life: "The Italian government is seriously engaging in the negotiations".
The head of financial stability of the EU Commission, Olivier Guersent said this morning in a meeting of the Financial Times: "The real problem is the famous catastrophic spiral between sovereign debt and the banking system".
The euro appreciates to 1,138 against the dollar (+0,3%).
Brent oil up 1,7% to 62,8 dollars a barrel. Advance Saipem (+1,01%). Salt too Saras (+2%) supported by high refining margins. Eni + 0,3%.
In Europe, the slowdown in the automotive industry (-1,96%) weighed after the leap forward on the eve. The decline in registrations in Germany continued in November: -10% after -7% in October. Daimler e Volkswagen suffer a reduction of more than 2%. In Milan Fiat Chrysler -0,87%. Unchanged Ferrari.
Pirelli -0,3%: Jefferies cuts the target price to 6,80 euros.
EU finance ministers have reached a political agreement on banking rules that establish the level of buffer that institutions must hold to absorb losses and new capital requirements to strengthen financial stability.
Weak this morning the banks protagonists yesterday of the agreements on NPLs. Intesa Sanpaolo (-0,2%) completed the industrial agreement on non-performing loans with Intrium.
Bpm bank -0,7%. JP Morgan raises the target price to 2,4 euros, from 2 euros. Final offers for the non-performing loans put on the market are expected to arrive by the end of the week.
Down too stm (-1,5%). In sharp decline among the chips ams (-3%). US-based Cirrus Logic, a developer of electrical microcircuits, has cut its revenue forecast for next year.
Positive onset of Diasorin (+2%), since this morning traded in the main basket. The German group Linde, active in industrial gases, will replace the Barclays stock in the European Stoxx50 index.
It bounces Atlantia (+0,25%), yesterday the only blue chip down. Bnp Paribas has started coverage with Outperform.
