The concomitance of a series of positive factors feeds the bull on the world stock exchanges, from east to west. Europe celebrates in particular the changes to Basel III (which becomes Basel IV) and lo unblocking in Brexit talks, while Wall Street opens positive thanks to better-than-expected November jobs data.
Piazza Affari is in the pink jersey: +1,4%, 22.773 points, with banks euphoric about the new rules, which will be operational from 2022 (and not from 2019), plus another 5 years to adapt, while there is no feared different treatment of government bonds in the portfolio, as would have wanted Germany. Perspective sends into orbit Unicredit + 4,12% Understanding +2,64%; Banco bpm +2,96%; Ubi +2,16%; Bper +1,33%. Out of the main basket Creval, +9,02%, recovers ground after yesterday's collapse; while profit-taking penalizes Carige -3,67%. Bucking Banking Mediolanum -0,49%.
However, it is not only the banks that are pushing the Ftse Mib: Fiat earns 2,69%, with Goldman Sachs which raises the target price to 29,60 euros and bets on a crucial 2018. The positive trend continues Moncler, +2,35%. Sales focus on Saipem -0,59% and Atlantia -0,68%. The Rajoy government demands that the Benetton group asks him for authorization for the takeover bid on Abertis. Atlantia is ready to do it and even to relaunch in order to defeat Florentino Perez's counter-opas.
On the secondary side, the Italian paper benefits from the good climate, while the premier Paolo Gentiloni, in a conference on the future of the European Union, says that the annual growthwill eventually be closer to 2% than 1,5%. The BTP 10 years thus adjusts the yield downwards to 1,66%, while the spread with the Waist tedesco it drops to 136.20 basis points, -2,23%, naturally in a session with lower volumes for the holiday.
The other European price lists are in tune. London accelerates in the afternoon, +1,03%, while the GBP it weakens. The euro trading at around 0,88 (+0,7%). In the Eurozone: Frankfurt +0,92%; Madrid +0,67%; Paris + 0,38%.
Wall Street starts off on the right foot, thanks to the work report and is currently staying in positive territory. The dollar finds new ideas in this and the single currency loses about 0,2%; the exchange rate drops to 1,175. Dish They, around $1248 an ounce. It strengthens the oil: Brent +1,8%, 63,33 dollars a barrel.
