Piazza Affari recovered its losses in the afternoon with Wall Street starting at parity in the wake of the rebound in oil and the statements of the president of the Minneapolis Fed.
Il Fste Eb after moving into slightly positive territory, it closed down by 0,4%. Europe closes in contrast: London + 1,3% Frankfurt -0,4% Paris -0,3% and Madrid -0,4%.
At the closure of Europe, the Dow Jones saliva of 0,09%, theS & P500 of 0,21% and Il Nasdaq by 0,24%. The change euro dollar dropped 0,31% to 1,2248.
Oil returned yesterday to its 5-year lows wtf rebounded by 3,68% to 56,10 dollars a barrel. Today the president of the Minneapolis FedNarayana Kocherlakota, who disagreed with yesterday's Fed decision, said that the US risks Japanese-style deflation and that the Fed should "make it clear that it is ready to use additional tools, such as asset purchases, to push the inflation towards its target”. For Kocherlakota "the failure of the Fed to respond to weak inflation risks creating a dangerous drop in long-term inflation expectations such as those seen in Japan and Europe", the Fed should have made clear that it will not raise rates "until the the outlook for inflation in one or two years will remain below the 2% target”.
In Europe, green light from June by the European Council to Juncker plan which creates a new fund for strategic investments (EFSI) with the aim of mobilizing 315 billion euros in 2015-2017. The most important novelty, especially from the Italian point of view, concerns the possibility of deducting investments: if, due to contributions to the Strategic Investment Plan, a country goes beyond the constraints of the Stability Pact, this overrun will not be taken into consideration when we evaluate the state of public finances in that country.
From the President of the Commission Jean-Claude Juncker seems to arrive a cautious opening also with regard to national public investments, which for some time Italy has also asked to separate from the calculation of deficit and debt (in particular for the co-financing of projects supported by EU cohesion funds): "We will return to this in the communication on flexibility that the Commission will present in January, knowing - he said - that the Member States have already agreed to neutralize national contributions to the Fund for strategic investments".
Today Istat released the data on turnover which indicate timid signs of recovery of theItalian industry: in October, turnover (net of seasonal factors) increased by 0,4% compared to September.
The board of the European Financial Stability Facility (Esfs) has decided to grant the Greece a two-month extension of the country's second aid program which was due to end on December 31st. The remaining 1,8 billion euros still in the ESFS budget can be allocated to Greece by the end of February on condition that the Greek government passes the new assessment by the EFSF experts.
Lo BTP-Bund spread it closed higher at 136 basis points. In Piazza Affari, the day was conditioned by the sales on banks triggered by yesterday evening's intervention by S&P on the banking sector to align the rating with the sovereign one. At the bottom of the Ftse Mib there is Ps which lost 4,17% on fears of new provisions in the fourth quarter of the year. Down too Unicredit (-1,8%) And Understanding (-2,5%) which cashed in on S&P's rating cut to BBB-. Banco Popolare (-2,8%). Mediobanca, also trimmed to BBB-, fell 1,7%. There Popular Emilia Romagna (-2,9%) switches to BB- from BB. The long-term and short-term ones remain stable Popular Milan (-0,45%) and its subsidiary bank Akros, to B+/B.
Among the worst titles too Rest (-3,43%). On the contrary, among the best featured blue chips wdf (+2,96%). On the rise Saipem (+4,64%) which runs thanks to the "buy" opinion of Goldman Sachs. The Fiat galaxy is also doing well: Exor (+ 2,22%) and fca (+0,59%) on speculation for possible integrations with other groups after the Ferrari IPO. The recovery of oil is good for Eni which rises by 2,41%.
Recommended Yoox +1,27%. Renzo Rosso, owner of Diesel, has risen to 8,81% of the share capital from the previous 7,8% that emerged from the last shareholders' meeting in April 2014. The figure emerges from the Yoox shareholders' meeting, which has just voted on a statutory amendment (article 14).
Among the smaller cap stocks, the freshman George Fedon after yesterday's leap it gains another (+13,31%). Instead, in free fall Seat (-77,78%) in view of the maxi-issue of new shares and the reverse stock split which kicks off on Monday. In the afternoon, Consob gave the go-ahead for the information prospectus. The new shares will be assigned to creditors in execution of the group's composition with creditors proposals.
