BUSINESS PLACE SCALE OF 20.000, RECORD FOR 18 MONTHS. FINMECCANICA, PIRELLI, BANKS AND TELECOMS BOOM
The Ftse Mib index +1,6% violated the threshold of 20.000 points, which it had not exceeded since 7 July 2011, reaching 20.045 points at the end. The rise is in line with the trend of the other European lists: Dax +2,03% the Dax, Cac40 +1,35% and +0,79% the Ftse100. Madrid +1,2%.
In Europe, the greatest increases concern automotive companies (Stoxx +2,4%), banks (+1,6%) and insurance companies (+1,5%). The Btp/Bund spread fell to 203 points (rate at 3,87%). According to numbers released by the Japanese Finance Ministry, net purchases of Italian government bonds totaled $709 million in November, the largest amount since the end of 2010.
While awaiting the Beige Book which will be made public in the evening, the US stock market is advancing on the wave of macro and quarterly data. The Empire Manufacturing index, which measures the manufacturing industry of the North East, rose 4 bp more than expected. Meanwhile, Bank of America scores a quarterly with quadrupled profits compared to a year earlier, the title rises by more than 3%. Goldman Sachs (+2%) and Citigroup (+2,2%) also stand out, two banks that release data tomorrow.
The Dow Jones index rose by 0,6%, the S&P500 by 0,4% and the Nasdaq by 0,6%. There are many important notes in Piazza Affari:
a) Finmeccanica is up 8,22%, after statements by the CEO of Airbus who said he was interested in buying the Italian company's stake in the missile manufacturer Mbda.
b) Telecom Italia rises by 4,32% on the eve of the board meeting which could examine a hypothesis of governance reform.
c) Sgomma Pirelli gaining 5,8%. The rest of the automotive sector was also brilliant: Fiat +2,06%, Cnh Industrial +2,01%. Exor, the holding company of the Agnelli family, advanced by 2,63%.
d) Banks are flying, popular in the lead: Pop.Milano +5,12%, Banco Popolare +4,23%, Ubi +2,96%. Strong earnings also for Unicredit +2,67% and Intesa +3,28%. Mediobanca rises by 3,01%.
The news that the ECB will not require European banks, in the upcoming stress tests, to adjust their sovereign debt portfolio to market values also contributed to boosting the banks. Among the negative notes, the bubble of Mediaset deflated -3,13%, the decline of Yoox -0,55% and Ferragamo -0,37% continued.
