The expectation of an agreement on the fiscal cliff in America and the promising eve of the Eurogroup on the plan for Greece put the turbo on the stock exchanges: Piazza Affari earns 3,05% per cent. Exploit of Stm up by more than 7% but also of Finmeccanica, Mediaset, Autogrill and Bper.
The wait for tomorrow's Eurogroup on Greece in the afternoon he did not dampen the optimism that comes from overseas on the forthcoming agreement for the fiscal cliff. Thanks to the positive data on the real estate sector (+2,1% sales of existing homes and the Nahb index at its highest level since May 2006), Wall Street widens its rises and drags European markets along with it. But in Europe, markets are also looking to the outcome of tomorrow's Eurogroup with confidence. "We have to find an agreement tomorrow", warned the spokesman of EU economic affairs commissioner Olli Rehn, stating that "the Commission is working as hard as it can with its Troika partners to facilitate an agreement tomorrow evening". According to the spokesman of the German finance minister Wolfgang Schaeuble there will be no decisions.
Milan, best in Europe after Athens, rises by 3,05%. Frankfurt +2,49%, Paris +2,93% and London +2,36%. Athens closed up 3,85%. The euro against the dollar surpasses the 1,28 threshold at 1,2809 (+0,22%). Gold rose by 1,10% to 1.737,80 dollars a barrel and WTI oil, thanks to the tensions in the Middle East, rose to 89,34 dollars a barrel (+2,78%). The Btp-bund spread is stable at 353 points. On Wall Street, the Dow Jones rose by 1,22% and the Nasdaq by 1,71%. Intel flat after the announcement that CEO Otellini is leaving in May after 40 years in the company. Intel's board will consider internal and external candidates for his replacement.
In Greece, the expectation is for a green light for 44 billion euros in aid (the tranche of 31,5 plus the last two tranches of 2012 already established) still to be disbursed. However, the money would be paid on December 5, provided that Athens complies with all the required conditions. Athens, through the finance minister, said she was ready, there would be no pending issue with the Troika. Then there is the expectation for an at least partial agreement to finance the hole that will open by giving Greece two more years to bring the debt/GDP to 120% in 2022. But it will be necessary to see how the divergence on sustainability will be resolved of Greek debt between the international IMF and the EU.
From Madrid, the other hot spot in the crisis, Prime Minister Rajoy said today that the worst of the future of the euro is over. But meanwhile the country is hitting a new record for risky loans worth 182 billion, 10,7% of the total, a new historic record, mainly due to loans to the real estate sector that risk never being repaid. Precisely on the subject of suffering and accounts today Ignazio Visco, governor of Bank of Italy, meets the 5 main Italian institutes.
Stm leaps +7,87% in Piazza Affari after UBS improved its stock recommendation from sell to neutral, Bper +5,61%, Mediaset +5,32%, Finmeccanica +4,85%, Tenaris +4,41 %. Autogrills +4,37%. Luxottica also did well on expectations for the acquisition of S&V +3,64%. On the Ftse Mib, no stock closes in the negative. The banking sector was also brilliant Intesa +4,05%, Mps +3,80%, Unicredit +3,94%.
