FCA, TELECOM AND FINMECCANICA PULL THE STOCK MARKET
ONLY OIL DOWN, YOOX STILL RISES
European stocks moved higher in the wake of Wall Street, which gained 2% on Friday after strong growth in employment data able to support rate hikes.
Milan is more cautious (FtseMib +0,46%) than the other European Stock Exchanges: the Paris Stock Exchange rises by 1,7%, Frankfurt +2,02%.
Electrolux collapses in Stockholm (-13%): General Electric has decided to cancel the sale of its household appliances division to the Swedish group due to excessive obstacles by the US Antitrust.
In Europe, the best sector is the pharmaceutical sector (European Stoxx +1,9%), thanks to Switzerland Roche which gains 1,6% after announcing positive results for the experimentation of a new drug for the treatment of non-Hodgkin's lymphoma. In Piazza Affari it advances Recordati + 2,5%.
The euro was down to 1,081, from 1,088 by Friday's close.
The spread between BTPs and German Bunds is stable at 94 basis points. The ten-year BTP shows a yield of 1,61% compared to Friday's close when it was close to 1,70%.
On Friday evening when the markets were closed, the Ministry of the Economy announced that 10 billion BOTs maturing in December 5,5 will be made available to investors during the auction on Thursday 2016 December 6 against the XNUMX billion maturing.
Industrial stocks advance in Piazza Affari. Brilliant Fiat Chrysler +2,1% on the wave of Sergio Marchionne's statements on the forecast of a positive net financial position by the end of 2018. Car production in Brazil fell by 14,2% month on month in November, sales rose by '1,6%.
Finmeccanica increases by 2,1%: rumors of Boeing's interest in the subsidiary Agusta Westland are circulating on the market. Prysmian earn 0,8%, Buzzi + 1,5%.
Meanwhile, the rebound in the luxury sector also continues: Yoox +1,8% reaches a new historical record. Ferragamo + 1,7% Moncler + 0,6% Luxottica [LUX.MI] +1,7%.
Very well Telecom Italy +2,1% as the meeting on 15 December approaches. Mediaset + 0,2%.
In asset management highlighted Anima +2,6% and Azimuth +1,9% as the race for control of Arca gets underway.
Among the banks, Intesa advances +1,2%. Less moves Unicredit +0,2% Monte Paschi + 0,1%.
Positive assurances: Generali + 0,8% UnipolSai + 0,8%.
Crude fell close to its August lows with the WTI at $39,5 a barrel, after OPEC decided on Friday not to cut production to support prices. Brent at $42,7.
Oil stocks are in negative ground. They go down Eni -1,1% Saipem E-1,2 Tenaris -1,3%.
