The expected face to face Trump-Biden he keeps the stock exchanges in suspense, on a day in which the victims of Covid-19 in the world officially number more than a million. The uncertain progress of Wall Street and the plunge in oil negatively affect the European lists in the afternoon and investors, after yesterday's purchases, promptly cash in, while theeuro recovers positions against the dollar, moving in the 1,173 area.
Frankfurt nears close down 0,4%; Paris -0,25%; Madrid -1,1%; London -0,5%.
Business Square it retreated by 0,52% to 19.061 basis points, with banks and oil stocks in the red following the gains on the eve by both sectors. Saipem loses 3,22%, together with Eni -2,84% and Tenaris -3,21%. The December 2020 Brent contract on the other hand marks -4%, negotiating at 41,15 dollars a barrel. American crude, November 2020, loses 4,7%, 38,70 dollars a barrel.
Profit takings weigh on Bper, -2,79% and, in general on the credit sector, well bought in the previous session. Resists sales Bpm bank + 0,11%.
The losses weigh on the Agnelli galaxy. In particular they are negative fca -2,33% ed Exor -2,01%, which apparently do not celebrate the board of Stellantis, announced today. Yesterday FCA also settled for 9,5 million dollars to settle the issue of alleged misleading information on emissions. Bad Leonardo -3,03%.
On the positive side of the price list, the rally of Amplifon, +1,98%. Retrieve Atlantia, +1,83%, on the day of the board of directors also of Adpi, with the market once again hoping for an agreement with the government and CDP that avoids the revocation of concessions. Adnkronos reports a European response to the complaints of the company's top management: "Be sure - it reads - that the Commission services are dutifully examining all the issues you have raised in your complaints, and are carefully preparing the necessary consequent actions , also in the light of the most recent developments that you underlined in your letter. The Commission services will give you direct feedback with an analysis of your requests as soon as possible. In the meantime, our services remain at your disposal for a meeting should you wish to share further information regarding your exhibits”.
Publishing is highlighted outside the main basket. Dusting there too Sun-24 hours with a leap of 8,88%, while the president of Confindustria Carlo Bonomi, speaking to the assembly of the association, asks the government for "a new pact for Italy".
The session is positive for bondholders: lo spread between Italian and German ten-year bonds it drops to 139 basis points (-0,93%) and the BTP rate drops to 0,85%. The rates of today's medium/long-term auction are also decreasing. The Treasury has placed the entire amount on a range of offers of 6,75-8,25 billion. The new 2031-year benchmark BTP maturing in April 0,9 and with a 4,5% coupon was assigned for 1,27 billion, bid-to-cover 0,89, at a yield of 1,11%, the lowest since September last year ( from 2026% at the end of August). The third tranche of the February 0,35 BTP saw the yield rise to 0,58% from 2,5% at the end of August. The security was awarded for 1,59 billion, with a coverage ratio of 2024. The Ccteu February 1,25, at its thirteenth reopening, was assigned for 0,11 billion at a yield of 2,37% with a coverage ratio of XNUMX.
In the macroeconomic sphere, we note the preliminary estimate of German inflation for September, weaker than expected: the economic and trend consensus was -0,1%, instead the decline was 0,4%.
On the other hand, US consumer confidence rose in September, beating expectations and reaching its highest level since the beginning of the crisis triggered by the pandemic.
A figure that is not enough to raise the morale of Wall Street, rather attentive to the latest attempt by Congress to approve new aid against the crisis, even if the 2.200 trillion Democrat plan, presented yesterday, does not seem to be able to obtain the approval of the Republicans.
We are also awaiting, during the Italian night, the first of three political debates that will compare Donald Trump and his challenger Joe Biden. A duel that is presumed to have no holds barred and that comes after the revelations of New York Times about the president's shaky finances. Meanwhile, concern is growing at the idea that Trump, in the event of defeat, will do everything not to leave the White House and will try to contest the vote.
Political uncertainty and the pandemic are an indigestible cocktail for the markets, which are approaching the US presidential elections with a certain nervousness while the infections continue to grow, casting a very long shadow over the hopes of recovery. In this context, thegold: spot gold rose by 0,37% to 1887,9 dollars an ounce.
