The consumer confidence index drawn up by the Conference Board was much better than expected, in September it reached the highest level of the last eighteen years at 138 points, from 134,7 in August, the consensus expected 132.
On the eve of the communications of the Federal Reserve on rates, bonds weakened, with the 3,10-year Treasury yield at 0,25%, the highest since May. The central bank is expected to announce a XNUMX% rate hike tomorrow.
Il dollar it weakens against the euro to 1,178. It should be noted that the fall of argentine peso (-4%), following the resignation of the president of the central bank, Luis Caputo, apparently for personal reasons.
Il Petroleum Brent on the highs of the last four years at 82 dollars a barrel, +1%. The benchmark futures gained 3% yesterday. The WTI follows at 72,6 dollars, +0,8%.
The whole oil sector shines, benefiting from the rise in oil prices. Eni + 2,1%. Tenaris +5,3%, the best on the list.
Saipem +4%, to 5,228 euros for the first time since January 2017 thanks to the rally in oil, on the highs of the last four years.
The better growth prospects of the Eurozone, underlined by Mario Draghi, together with the oil rally, helped to support European lists. Milan, increasingly busy waiting for the manoeuvre, has made its own history. Operators gave credence to the hypothesis of an agreement between Minister Tria and the two Deputy Prime Ministers for a deficit/GDP ratio of around 1,9%, below the Piave line of 2%, insufficient to ensure an improvement in the structural balance ( as requested by the EU) but still able to guarantee a drop in debt compared to GDP in 2019. The prospect has reassured the markets while waiting for the numbers to be sent to Brussels. But the cold shower arrived in the evening: "A note to the Def 'not courageous' and without Citizenship Income, citizenship pension, 100 Fornero quota, compensation for those defrauded by banks will not have the votes of the M5s" Luigi Di Maio argued.
Milan was by far the best stock exchange: Business Square +1,54% to 21.669 points. The performance since the beginning of 2018 is almost in balance, or positive if we consider the amount of dividends detached during the year. From a technical point of view, the next target is at 22.230 points.
The yield on government bonds is down. The BTP the spread with the Bund appreciates and narrows to 232,661 points against 242,113. The yield on the Italian 2,88-year bond falls to 2,94%, from 0,52% yesterday. The German, at XNUMX%, is close to the highs of the last four months.
On the primary, the Treasury placed 1,75 billion ctz two-year bonds at 0,715% (against 1,22%) and assigned one billion BTPs indexed to inflation, with a yield of 1,65%. Today the auction of the six-month Bots is scheduled (6 billion offered, identical quantity expiring).
The other price lists have not moved much: Frankfurt (+0,2%) resists in positive ground despite the black day of bmw (-4,4%). The automotive group has revised downwards its estimates for 2018 by adopting in advance the "Wltp" principles on emissions, which "lead to significant supply distortions in various European markets and unexpected competition" and taking into account the "continuous international trade conflicts which they are aggravating the market situation and fueling uncertainty”. Group pre-tax profit should show a moderate decrease year-over-year (previously expected stable).
Madrid it closed slightly down (-0,1%). The Italian Andrea Orcel has been appointed managing director of the Banco Santander, the largest and most solid credit institution on the Old Continent, with a market capitalization of 72,2 billion euros. Orcel, a longtime banker at Merrill Lynch and Goldman Sachs, is currently head of investments at UBS.
The banks are tonic, thanks to the drop in the spread. Unicredit + 2,1% Intesa Sanpaolo + 2,5%. Mediobanca +1,5%: the agreement between the shareholders could be extended beyond 2019. Where's Banca + 1,3%.
Outside the Ftse MIb, the new drop in Carige (-5,3%), to historic lows of 0,0071 euro with dizzying trading, almost five times the average and 2,5% of the capital.
Leonardo up 2,4%. There US Air Force has chosen the MH-139 helicopter, based on the Agusta AW139, for the protection of missile bases and the transport of government personnel and special forces. The MH-139 program, offered by Boeing as prime contractor, is valued at approximately $2,4 billion.
Fiat Chrysler (-0,3%) reversed course after the BMW earnings alarm. The European autimituve index falls by 2,3%.
Exor +1,5%: UBS raised its target price to 79 euros from 73 euros.
La Juventus (-2,1%) signed an alliance with the blockchain platform Socios.com. One of the objectives of the partnership is to introduce the Juventus "Official Fan Token".
Mediaset +4% after the positive comments of the president Fedele Confalonieri on the project to create a pan-European broadcaster through an alliance between generalist TVs, while at the moment there is no news on the dispute with Vivendi following the failed acquisition by the French of the premium pay tv.
“There is no news, we are still standing there. There are none new things”, declared the president Fedele Confalonieri regarding the dispute between the company and the French company Vivendi. However, Confalonieri stressed that "it's not that the presidents are always informed". But it must be said that the title is also rebounding due to the good data from advertising sales in June and July (the World Cup in Russia was broadcast on the Alfa networks). Without neglecting the Sky-effect: Comcast's winning offer could push the Cologno Monzese TV group to accelerate the aggregation process on a European scale: the hypotheses on the table are always the same and refer to the French FT1 and the German ProsiebenSat.1.
Telecom Italy -1%. Nothing done to the board of directors, no decision has been made. The race for 5G frequencies is getting hotter and hotter, if the company wants to win it, it has to put around two billion euros on the plate. Furthermore, Il Messaggero writes that the data for the quarter, at Ebitda level, are weak.
Rai Way yesterday announced a binding offer for Lose, controlled by Telecom and Gedi, which rose by 4,4%.
Outside the FTSE Mib, the new drop in Carige (-5,3%) to historic lows of 0,0071 euro with dizzying trading, almost five times the average and 2,5% of the capital.
The rush does not stop Bialetti, which with yesterday's rise (+11,3%) brings the gain achieved in just three sessions to around 50%.
Heavy though Molmed (-9%) after the resignation of the president-founder and the announcement of a capital increase without option rights.
