Morning on the roller coaster in Piazza Affari and for the other European price lists that fluctuate around parity. Shortly before 13 pm, the Ftse Mib returns to positive territory around parity (+0,10%) and then returns to red. In the morning the index recorded an intraday low of 14.058,51 points and a high of 14.428 points. The Dax which rises by 0,48% and the Cac + 0,08% while the Ftse 100 drops by 0,20%. The Btp-bund spread also fluctuated, returning to the 490 point area after having jumped to 504,7 points with a yield of 6,92%. Traders indicate that the central bank would have bought Italian government bonds.
The nervousness of the markets and fears about the euro crisis have now arrived at Merkel's doors: today Germany managed to place only 3,64 billion bunds out of the six billion auctioned, with a yield of just 1,98 %. However, the German Chancellor continues to block the way for Eurobonds and the possibility of the ECB becoming a lender of last resort.
Negative signals also come from the economic situation: in September new industrial orders in Eurozone countries suffered a contraction of -6,4% compared to August against expectations for a drop of 2,5% (in August orders were up by +1,4%). On an annual basis, however, orders remain up by 1,6%. For S&P there is a high risk of recession in most of the euro area in 2012, due to the high yields of government bonds and the difficulties of the banking sector. In the afternoon, data are expected from the US on the consumption deflator for October, durable goods orders for October, personal income for October, weekly claims for unemployment benefits, the consumer confidence index measured by the University of Michigan, oil stocks.
The euro thus lost ground against the dollar and traded at 1,3393.
Finmeccanica rebounds in Piazza Affari (+0,93%), pending the resignation of Pierfrancesco Guarguaglini and his wife. According to Northern League president of the Varese province Dario Galli, Finmeccanica director elected from the majority list of the Treasury, the next board of directors will take adequate measures on the resignation of president Guarguaglini.
Also up were Saipem (+1,43%) and Enel (+1,03%), Lottomatica (+0,94%) and Autogrill (+0,48%). The banking sector thwarted: Unicredit which rose by 0,71% and Ubi Banca increased by 0,84%, Intesa lost 0,36%. Also in the red were Banco Popolare (-1,57%), Bpm (-2,3%) still awaiting the new CEO and Bmps (0,42%). Bper loses 5%, Mediolanum 2,36% and Azimut 1,82%. Borsa Italiana announced that Monti Ascensori ordinary shares are suspended from trading indefinitely.
