Flat start for European stocks in Fed week. Business Square it is unchanged at 22.609 points, with few moves Paris +0,1% and Madrid -0,12. Slows London -0,15% after European Council President Donald Tusk said the 27 European Union countries accepted London's request this morning to postponement of Brexit until 31 January 2020. The news favors the recovery of Frankfurt, the market most sensitive to Brexit.
After the elections in Umbria, won by the centre-right, there is a slight increase for the spread between Btp and Bund, which stands at 144 basis points (from 130). The yield on the Italian 1,10-year bond reaches 10% for the first time since September 0,91 while it was around 1,203% on Friday. The comparison with the Greek 2-year remuneration is striking, which falls to 0,18%, following the one-step valuation increase, to 'BB-' from 'B+', by S&P Global Ratings which raised the rating of Athens on Friday. The yield of the XNUMX-year BTP goes back to -XNUMX%
The 0,34-year Bund trades at -XNUMX%.
brake the Bitcoin -1,5% to $9.400, after a strong rally of around 40% between Friday and last Saturday. The digital currency race was fueled by the statements of Chinese President Xi Jinping who announced a government commitment on the technological approach of the Blockchain. Today, around XNUMX ultra-high tech companies on China Stock Exchange were suspended for overshooting following the news.
Il Petroleum it moved little after closing the eighth with a gain of 5% on the openings between China and the US on matters of duties. This morning two important brokers speak on Eni -0,5% in light of the quarterly report announced last week. Credit Suisse confirmed the Neutral by limiting the target from 17,50 to 16,75 euros. SocGen confirmed the Buy, lowering the target price from 17,1 to 16 euros.
Tenaris +1,4%. Exploration activity slows down in the United States: -21 drilling rigs were active last week. Saipem +0,67% marks new highs for the period, thus starting the fourth week of moving away from the summer lows: it is now down by 0,2% to 4,3 euros.
The attention of the financial markets is focused on the luxury after that Lvmh has confirmed its interest in Tiffany although the giant controlled by Bernard Arnault said that "at the moment there is no certainty that the discussions will lead to an agreement". LVMH offered $120 per share, equivalent to $14,5 billion (€13 billion). In Piazza Affari it goes up Salvatore Ferragamo +3%, move back Moncler -1,77%.
Mediobanca -0,41% while the budget meeting is in progress. Alberto Nagel excludes capital increases. From reading the shareholders' register, integrated with the communications, it emerges that the significant shareholders of the bank are Unicredit 8,81% and Leonardo Del Vecchio through the Delfin holding 7,52%, Vincent Bolloré dropped to 6,73% from 7,85% previous.
Bper -0,7%, it could sell a significant part of its stake in Arca.
At the end of September, banks based in Italy had national government bonds in their portfolios for a value of 410,972 billion euros, a new high since August 2016. This is what emerges from the data provided by the European Central Bank, which must be compared with the 410,159 billion of the end of August.
Tim -0,1% should be the leader of the consortium of subjects aiming to buy 100% of Open Fiber. Pirellii +1%. Fiat Chrysler + 0,7%.
