Another positive session for Square Business, which rounded its gains by 0,24%, to close at 23.046 points, with Tenaris, +9,72%, in great recovery and despite a Classic Ferrari for sale, -2,89, broken down. The two titles, at least for one day, exchange the role of Cinderella and Queen of the Ftse Mib. The producer of pipes for oil and gas, after the quarterly, attracts investors, also because it is one of the stocks that has lost the most since the beginning of the year. The prancing horse, on the contrary, has only been ringing record after record and today, after the accounts, it slips into the negative due to profit taking. Mediobanca Securities, however, maintains the outperform recommendation on the shares of the Maranello reds and the target price at 109 euros, while Banking Name e Equity the judgment "buy".
Positive session for Italian banks, also driven by some good quarterly results from European groups such as Credit Card Switzerland, Danske Bank e ING Group. In Piazza Affari, purchases are concentrated on Bper +3,64%; Unicredit +1,82%; Banco bpm +1,47%. Well Telecom +1,6%. Sales hit fashion, with Moncler -1,7%. They lose positions Mediaset -2,23%; Campari -1,77% and Buzzi -1,73%.
Bonds are stable and the Italian paper maintains a positive tone, despite the surge in the public accounts. The borrowing requirement for the first ten months of 2017 stood at 61,141 billion, with an increase of approximately 11,5 billion compared to January-October 2016, largely attributable to disbursements in July and August to safeguard the banking system. The yield of the 10-year BTP is 1,8%; the spread with the Bund stable at 142.60 (-0,14%). Spain is weak, after a series of arrests in Catalonia and with the Madrid prosecutor's office asking for a European mandate also for Puidgemont. Around the close, the Italy-Spain spread was 32,4 basis points, after fluctuating between 32,3 and 34,4.
Going back to the share market: the other European listings struggled. Fractional losses for Frankfurt -0,18%, which is slightly away from yesterday's high; Paris -0,07%; Madrid -0,47%. Outside the eurozone, London gained 0,9%, while the pound depreciated following the BoE's decision to raise rates from 0,25% to 0,5%, for the first time in ten years. The British central bank is planning two more hikes in the three-year period 2018-2020, but its forecasts are very cautious, especially due to the uncertainties related to Brexit.
Today the euro it also strengthened slightly against the dollar, with the exchange rate around 1,165, +0,34%. Yesterday the Fed left rates unchanged, while not ruling out a forthcoming hike in December, while tonight at 20 pm Italian time Donald Trump should crown Jerome Powell as Janet's successor Yellen.
Uncertain the opening of Wall Street, pending the tax plan, after the presentation of which there is a partial recovery. The plan provides for a cut in the tax rate for businesses to 20% from 35% and a reduction in the income brackets for individuals, which drop to four from seven: 12%, 25%, 35% and 39,6%. At the moment the Dow is in positive territory, while the Nasdaq remains in red, with negative Facebook. Among the worst stocks Tesla, which recorded its largest quarterly loss and postponed the volume targets on its new Model 3 by three months.
Parked oil, with Il Brent around 60 dollars a barrel (60,42, -0,12%). Little moved the gold.
