The improvement in European consumer confidence turns the last session of the week of the stock markets pale pink, furthermore held back by the early closure of Wall Street for shopping B
For the Index Euro Stoxx 50 of the major blue chips could be the positive eighth in a row.
Stock exchanges latest news: towards a positive end of the week in Europe
A Milano the main index marks +0,24% close to 24.800. Since October 12, the start date of the autumn rebound, the increase has exceeded 21%. The trust indicators of Italian businesses and consumers start to rise again in November, after a few months of decline. The consumer index rises to 98,1 points from 90,1 in October. The composite index of business confidence, which also includes trade, construction and services, rose to 106,4 points from the previous 104,7 (revised).
The trend of Frankfurt: Dax +0,1%, on the highs since June. In the third quarter, the German economy grew by 0,4%, on a quarterly basis. Economists had expected 0,3% growth in the third quarter.
Bond market in an adjustment phase. The construction sector ten-year treats at 3,73%, lo spread rises to 185 points. At these levels it would complete the third positive week in a row. L'bot auction (5 billion offered) recorded, as expected, a sharp increase in yields on 6-month bonds to 2,324%, the highest since July 2012, from 2,049% at the end of October.
The race for the European card raises the first concerns. The chief economist of the BCE Philip Lane he warned against rising wages, a phenomenon that could "continue for years even after the effects of the pandemic and energy shocks have faded".
On the non-EU chessboard, an article by Reuter reporting Beijing's decision to authorize the People Bank of China to make loans to companies that take over real estate bonds from groups that seem to be in default.
Always China, according to rumors, could guarantee the Salvador the capital needed to avoid the bankruptcy of the State which, first in the world (along with the Central African Republic) adopted Bitcoin as its official currency.
Wall Street Half Open: Spotlight on Bankman-Fried Ftx Apology Letter
Meanwhile a Wall Street, already distracted by shopping, holds court letter of apology by Sam Bankman-Fried, the founder of FTX, aimed at platform employees. “I am deeply sorry for my mistakes. I will do everything I can to fix it, even if it takes the rest of my life." However, there is no mention of the money that has disappeared while the efforts of the clients' lawyers are multiplying. They loom millionaire damage claims for testimonials of the enterprising Sam. Among these the basketball player LeBron James and various protagonists of the pop scene. Binance, the largest cryptocurrency brokerage platform has announced that the support and rescue fund announced at the beginning of the month, it is entering the operational phase with an initial budget of over one billion euros. The fund has already received 150 requests for help.
A bearish start is expected for the short session of Nasdaq. Down Apple Lossless Audio CODEC (ALAC), in front of the news on the Covid Chinese. Response to the riots in the Zhengzhou iPhone Assembly Plant, Foxconn apologized to employees for incorrect wages and unpaid Covid bonuses, stating that the problems were caused by a technical error. Meanwhile, Apple has sent a team to the site to closely monitor the situation in the mega-factory city where about 80% of all iPhones sold worldwide are produced.
Piazza Affari: in sight A2A, Eni and Poste
Returning to Business Square, after the positive conclusion of the voluntary takeover bid by Benetton and partners, Atlantia it starts quickly at the exit from Piazza Affari. Its place in the main list will be taken on November 29 from Erg -0,93%. The company announced today that it has completed construction and started energizing its 62MW Furuby wind farm in southern Sweden.
The landslide stops General Bank +0,03% after Generali's renunciation of the acquisition of the asset management of the American Guggenheim.
There are no market reactions yet to the turnaround going on Ferrari. It is almost certain that tonight the team principal Mattia binotto will resign from the sports driving of the Red. In its place Frederic Vasseur highly recommended to John Elkann by Carlos Tavares.
Meanwhile stellantis -0,2% reiterated that in July next year it will reorganize its European dealer network, starting with Austria, Belgium, Luxembourg and the Netherlands, while other countries will gradually follow. The brands involved are Alfa Romeo, DS and Lancia, while the commercial vehicle brands will enter the new distribution structure from 1 January 2024.
They top the index today A2a, Eni and Poste Italiane. Iren also collected well +3,2%. The utility sector is taking advantage of expectations that the new version of the tax on the extra profits of energy companies will not include utilities.
Back off Azimuth in the wake of Sadif's strong buy (target 14,5 euros). Also brake UnipolSai: Kepler cuts judgment to Hold da Buy, target 2,65 euros.
