The climate of the closing markets cools down and Piazza Affari also goes into the red, stopping at 22.962 points, -0,18%. Eni, +1,52%, is the best blue chip of the day, but the banks are the protagonists of the session for better or for worse, while the animated European debate on the issue of NPLs continues, with Italy lined up against the desired tightening from the ECB. After yesterday's remarks by Governor Ignazio Visco, today Minister Pier Carlo Padoan says he spoke to the Eurogroup arguing that "the addendum goes beyond the limits institutionally defined by the action" of the European Central Bank. The Italian banking index dropped by 0,25% against +0,2% for the European basket.
In any case, the other continental lists were weak: Madrid -0,83%; London -0,65%; Paris -0,48%; Frankfurt -0,66%. The accommodating monetary policy of the central bank instead continues to push the bond market, which even today maintains an excellent tone until the end of the session: the 10-year BTP revises the yield downwards to 1,71%, while the spread with the German Bund drops to 137.50 basis points, -4,25%, to a year low.
Uncertain Wall Street, which opens mixed, then all three main lists move to record levels, then fall back below parity. With earnings season winding down and no macro data, investors are looking forward to Janet Yellen's speech tonight, the first since Donald Trump didn't reappoint her and picked Jerome Powell to replace her at the end of her term. , in February. You are confident of a rate hike in December and we are starting to think about two more adjustments next year. A very different scenario from that of the euro area, where no surprises are expected, at least until 2019. In this context, the dollar strengthens and the euro changes to 1,157 (-0,35%). Gold retreats moderately.
Among the commodities, oil is taking a breather after the recent increases. Brent -0,84% to 63,73 dollars a barrel. In Piazza Affari, the banks travel at different speeds: Intesa, +0,28%, after a quarterly report with profits beyond expectations, despite the Venetians and with NPLs declining. Banca Mediolanum up by +1,46%; Mediobanca +1,25%. Sales hit Banco Bpm -2,21%; Bper -1,88%; Ubi -1,54%. Outside the main basket, Creval sinks -13,33%, after rumors of a capital increase of 500 million to solve the problem of non-performing loans.
In the other sectors: the six-legged dog flies; good for Terna +1,05% and Snam +0,99%. Down Prysmian, -1,62%, which in the first nine months reduces revenues and improves margins and profit. Weak Leonardo -1,76% and Recordati -1,68%. Among the minor stocks, Bialetti gains 1,68%, after the agreement with Alibaba to sell the iconic coffee maker with a mustache online.
