European lists close slightly higher, but there is still considerable nervousness on the markets, due to the trend of the pandemic, the new anti-Covid restrictions, the uncertainty about the recovery.
The warm European morning gives way to afternoon prudence, induced by the selling on Wall Street stocks. At the moment, the three main New York indices are in the red, weighed down by the tech sector, even if the sportswear giant, Nike (+9,6%), flies to all-time highs, after a higher-than-expected quarterly performance.
Piazza Affari rises by 0,18%, to 18.929 points. The utilities are tonic, but the banks are weak, despite the spread improving further to 135 basis points and the yield on the 0,85-year BTP is close to an all-time low (+1,75% the final figure). A company that succeeds in the thirty-year title, which reaches a record low of +XNUMX% in the session, always in the wake of the results of the vote that seem to give the Conte government more breathing space.
The close is similar to Frankfurt +0,33%; Paris +0,62%; Madrid +0,16%. Better London, +1,21%. The travel sector rears its head after four consecutive sessions down: Lufthansa gains 1,53%. A company executive said the company plans to provide passengers with rapid antigen tests for Covid-19 starting in October.
The currency market has an influence on the courses: the pound has been weakened in recent days by the problems posed by the coronavirus epidemic in Great Britain, even if today His Majesty's currency is slightly recovering against the euro and the dollar. The single currency is suffering against the greenback, with the exchange rate around 1,167, a weakness fueled by the specter of a no-deal Brexit and a second wave of infections, while the macroeconomic data, albeit partially good, call for caution. Eurozone manufacturing PMIs rose more than expected in September, especially the German reading. On the other hand, the data on the services sector were weak, linked to fears and the effects of the new closures. Flash estimates in the US are also slightly disappointing.
Among the raw materials, oil is little moved, although there is a drop in American weekly inventories higher than expected. Brent is trading below $42 a barrel. The strength of the dollar weighs on gold and spot gold drops 1,5%, at a price of 1870,5 dollars an ounce.
In Piazza Affari, the queen of the main price list is Snam, +3,12%, promoted "buy" by Goldman Sachs, which has set a target price of 5 euros.
Silver medal for Atlantia, +3,02%, pending tomorrow's board of directors who will have to decide whether to proceed with the spin-off of Aspi or the direct sale. Increases of more than 2% Inwit +2,41%; Pirelli +2,06%; CNH +2,04%. Sales sink the banks: Banco Bpm -3,76%; Unicredit -3,14%; Bper -2,97%; Understanding -1,8%. Mps, +1,19%, instead remains in money after the press rumors of recent days on a solicitation from the government to Unicredit for the purchase of the Sienese bank.
Outside the main basket, Ovs gains 9,35%, after the half-year results down, but in line with the expectations of analysts, who judge the net debt trend positively and see positive signs in August.
