Stock markets in rally today, with the engine full of petrol from Milan to Wall Street. Europe pushes to the highest levels since 2015, while new records are touched in New York. The auto sector shines, thanks to the US openness not to introduce tariffs on imports of European and Japanese cars e Business Square it drinks at the source, closing queen in Europe with a leap of 1,64% and exceeding 23 points (23.311), as had never happened since the birth of the first Conte government. A decisive contribution to the performance comes from Ferrari, +6,51%, which burns another historic high, afterwards the excellent quarter and the improvement of the 2019 guidance. Almost the entire Agnelli galaxy also remains on the shields, also following the announced wedding between fca (+ 2,56%) and Peugout (+3,4% in Paris). Purchases reward Cnh +4,5% ed Exor +2,16%, even if the Juventus -0,53% remains at stake. Down Amplifon -1,04%.
In the rest of the list, oil stocks, industrialists and banks are well matched. Saipem +3,77%; Leonardo +3,99%; Bper +3,23%; Ubi +3,22%; Pirelli +3,44%.
Optimism is contagious Frankfurt +1,35%; Paris +1,08%; Madrid +0,95%; London +0,93% and strengthens after opening on Wall Street's record levels. "The highest ever" says Donald Trump, who takes the opportunity to attack the press: the stock markets are at the top - he claims - and the media only divulge fake news about the impeachment.
This wave of purchases is triggered by the possibility of avoiding the feared war on tariffs between Washington and Beijing, thanks to the soothing signals coming from both sides. In particular, the US Secretary of Commerce, Wilbur Ross, expressed optimism that the United States will reach a phase one trade deal with China by the end of the month and declared that the licenses that would arrive “very soon” will allow American companies to sell components to Huawei Technologies. He suffers McDonald's (-3%), after the farewell of the CEO following an affair with an employee, but eight of the 11 main sectors of the S&P 500 are up, with energy in the lead on the back of the increase in the prices of the Petroleum. In fact, the prospect of a trade peace also galvanizes black gold, with Brent up 1,57% to 62,66 dollars a barrel, while Saudi Aramco confirms its debut on the stock exchange with the largest IPO in the history. In a tweet, the company underlines "the intention to list on the Tadawul, the Saudi National Stock Exchange". There are no details on the price or share that will be offered on the market, but it is added that there will not be, at least for now, a second offer on a foreign exchange.
THEgold stay at the window and trade at 1509 dollars an ounce. L'euro it is slightly down against the dollar, with the exchange rate at 1,1144, awaiting the first intervention of Christine Lagarde as the new president of the ECB, this evening at an event in Berlin. Meanwhile, the single currency suffers a frontal attack by the Hungarian central bank. “We have to admit that the euro was a mistake – says Governor Gyorgy Matolcsy al Financial Times – The time has come to look for a way out of this "French trap". Hungary is still completing the process, started in May 2004, for the adoption of the single currency and continues to use the forint.
The session is moderately positive on the Italian secondary, with the yield on the 10-year BTP at +1% and lo spread with the Bund down to 135 basis (-0,98%) thanks to the rise in the German 0,35-year yield (-XNUMX%). Meanwhile, the Ilva tile is demolished on the tricolor manufacture, with ArcelorMittal which returns the company to the Italian State. One year after arriving in Taranto, the steel group has in fact notified the commissioners and the unions of its intention to withdraw.
