Try restarting the auto sector after two terrible days. This is how European price lists breathe even if Mario Draghi, speaking to the European Parliament, disappointed the expectations of an imminent increase in QE. The ECB, he said, needs more time before evaluating other interventions. But, if necessary, it is ready to intervene. The European PMI index remains well above 50 points (53,9 in September), much better than the Chinese data.
The words of the central banker however held back the rise of Piazza Affari which closed with a marginal increase of 0,18%, ahead of Paris +0,1% but behind London, galvanized by the rebound of the raw materials giant Glencore +4,2. 10,33% recovery after Tuesday's collapse (-XNUMX%).
Contrast the US stock exchanges: the Dow Jones loses 0,1% while the Nasdaq rises by 0,2%. The day's performance is in line with the trend since the beginning of the year, which sees the former posting a loss of 8% and the latter gaining 1%. The S&P500 index is unchanged.
After Draghi's words, the yield on the bunds drops: the gap with the BTPs rises to 115 basis points, the ten-year yield to 1,719%. Frankfurt made its own history +0,66%: after a high-voltage morning in which, in the early stages, Volkswagen it fell below 100 euros, dragging the price list downwards.
Then the stock, already down 10%, reversed course with an increase of 4,1% waiting for news from Wolfsburg. Volkswagen's rebound day thus culminated in the resignation of the group's managing director, Martin Winterkorn, 48 hours before the expected board of directors who should have renewed his position until 2018. "With this gesture, I pave the way for a new beginning for Volkswagen”
The other automotive titles recover: Fiat Chrysler advances by 2,85%.
However, another crisis front is opening up in Piazza Affari: Monte Paschi left 8,5% on the ground on the day of the first press conference of the new president Massimo Tononi: there will be no aggregations for Siena before 2016, said Tononi. “It will take a long time – was his comment – even if there were no Sreps”. The other banks are negative: Understanding -0,4% Unicredit -1,1%. Different fate for oil companies. salt Eni +1,3%, while Saipem leaves 3,9% on the ground after new rumors about a forthcoming 3 billion euro capital increase. Among the industrialists, Finmeccanica +0,7% and StM + 1,4%. Bene Moncler +3,5% is the best in the luxury sector. Luxottica +1,1% and Yoox -0,5%.
