Dates the dollar at 1,173 against the euro thanks to statements by Janet Yellen. The number one of the Fed argued that it would be imprudent to wait to see inflation at 2% before raising rates: green light, therefore, for new increases, albeit always gradual.
The European Stock Exchanges, galvanized by the decline of the euro, they recover. TO Milano the Ftse Mib index rose by approximately 0,7% around 22.700 points. More energetic the bounce of Madrid, after the decline in the last few sessions. The progress of more modest Paris (+0,22%) and of London (+0,18%). Frankfurt rises by half a percentage point. The Eurostoxx index marks its highest since 3 July; Goldman Sachs' European equity chief Sharon Bell expects profits to jump 15% in 2017, in what she promises to be the best year since 2010.
The improvement well above expectations in the market contributes to boosting the Italian market consumer confidence (115.5 from 110.8) and that of businesses (110.4 from 108.5) in September. Very positive the outcome of the Bot auction at 6 months: demand more than double the supply of 6 billion, fully subscribed, and yield at an all-time low. The Treasury collected the 6 billion offered against a request for 12,5 billion, with a coverage ratio of 2,07 percent. The yield reached an all-time low of -0,382 percent.
Rates on European government bonds rise: the 0,43-year Bund yields 0,40% (from 2,11% yesterday), Btp at 2,10% (from 167%), the spread narrows to 2 basis points (-XNUMX basis points).
Uncertain progress of Petroleum awaiting today the definitive data on the consistency of US hydrocarbon stocks: Brent is traded at 58,2 dollars a barrel, down 0,2%, Wti at 52 dollars (-0,3%). It stands out among the oil companies Saipem + 1,1% Eni + 0,1%. Saras +3,2%, Kepler raised the target to 2,50 euros. Trevi fell -2%, a company specializing in foundations and underground engineering works, including drilling. Kepler Cheuveux reiterated the Reduce recommendation, cutting the target price to 0,65 euros from 0,70 euros.
The basket of bank stocks of the Old Continent +1,5% travels to the highest levels for six weeks: the Spanish Banco Sabadell and Caixabank, which suffered from the tensions over the referendum in Catalonia, are recovering and gaining 5% and 3,5 respectively %, after the Spanish government announced the intervention of the police to prevent the vote. Banco de Santander +1,3%.
Banks also rise in other markets: Deutsche Bank + 1,7% Société Générale +1,4%. The trend also concerns Italian banks: Unicredit + 1,7% Understanding + 0,6% Bpm bank + 1,5% Ubi +2,1%. Positive assurances: Generali + 0,7% Unipol + 0,6%.
The manufacturing sector is in turmoil. In addition to the decline in the euro, the merger between Alstom, which gains over 6% in Paris and reaches its highest level for over six years, e Siemens (+ 2%).
In Piazza Affari, the rally of industrial stocks continues Leonardo (+0,83%) and of Fincantieri (+2,54%) in view of the meeting in Lyon between the ministers of France and Italy. They also go up stm (+ 2%), Fiat Chrysler (+ 1,5%) and Buzzi (+ 1,5%).
The bounce of continues in luxury Yoox (+ 2,5%). Moncler instead it lost 1,2% to 23,94 euros, going against the stock market trend. Since the beginning of the year +45%. Deutsche Bank cut Hold's rating from Buy to Outperform this morning. The target price was reduced to 25,40 euros from 25,60 euros.
