Even the last Draghi Day, like so many of this long term as president of the ECB which is drawing to a close, unleashes the enthusiasm of the markets. And it could not be otherwise: Super Mario announced in Frankfurt the last blow of the kidneys before giving way to Christine Lagarde, cutting the deposit rate by 10 basis points and above all confirming that Quantitative easing on government bonds which will start on November 1st at a rate of 20 billion a month, it will continue "as long as necessary to strengthen the accommodative impact of rates".
A kind of new version of the "Whatever it takes", the famous slogan that made Draghi famous in the summer of 2012, when in the first year of his mandate he immediately made it clear the line followed in the following seven years.
The result is that the Btp Bund spread even drops below 140 points, losing a further 12% compared to the value of this morning's opening: it closes at 138 basis points, on the values of a year and a half ago (May 2018). Piazza Affari also rejoices, with the FtseMib closing at +0,88% above 22.000 points (22.083 to be precise) and the banks quite the protagonists: in reality the best stocks are Pirelli +3,75%, Amplifon +3,3% , Enel +2,65% and Terna +2,6%, but Unicredit +2%, Intesa Sanpaolo +0,7%, Banco Bpm +2%, Ubi Banca +1,6% also participate in the positive climate.
Well, but with more moderation, also the other European lists, apart from London which closes flat, with all the doubts relating to a Brexit now ever closer. Draghi also spoke on this issue: “Our baseline scenario is benign because it does not take into account the risk of a hard Brexit, the odds of which have now increased,” admitted the outgoing president of the Eurotower.
The recovery of oil is interrupted, which also drops today after rumors according to which Donald Trump is considering easing the grip of sanctions against Iran: Brent falls below 60 dollars a barrel, Wti around 54.5 dollars. The euro appreciates slightly against the dollar, around 1.105. Gold takes a breather after the downtrend of these first days of September: today it is back above 1.500 dollars an ounce.
Returning to Piazza Affari, the industrialists suffer on the Ftse Mib: Prysmian and Atlantia are among the worst, Tenaris and Unipol are also bad. Juventus' bad moment continues, in the red today and which has lost 5% in the last month. Outside the main basket, one of the worst stocks is I Grandi Viaggi - -3,23%, which publishes a disappointing quarterly report with 5,4 million losses, while the chemical company Isagro leads the STAR segment: +8% today, +14% in the last month.
