Stock exchanges uncertain awaiting the moves of the Fed in the meeting of 17 and 18 December and closing in negative for the European lists. In Milan Business Square it closed at –0,27%, despite the data on GDP for the third quarter released by Istat which showed no change. The fall that began in the third quarter of 2011 is halted but, Istat specified, "the end of the recession cannot yet be declared", also because "it is not the Institute's task to certify it". On an annual basis, the GDP fell by 1,8% with Istat which revised the previous estimates upwards: -0,1% the economic situation and -1,9% the trend. Consumption also arrested the fall: -0,2% in the third quarter and 1,5% on a trend basis, this is the smallest contraction since the first quarter of 2011.
Lo Btp bund spread however, it benefited from the positive climate, also in the aftermath of Matteo Renzi's announcement of the new secretariat of the Democratic Party, and fell to its lowest level since July 2011 at 222 basis points. Madrid –0,52%, Paris -1,04%, London -0,55%, Frankfurt -0,88%.
Today the banking union and the resolution mechanism have arrived on the Ecofin table. From the president of the IMF, Christine Lagarde, came the invitation to "complete all the elements of the banking union remains a priority". In the US, the Fed also, as expected, unanimously approved the Volcker Rule, which among other things prohibits financial institutions from trading on their own account.
A Wall Street, which opened in negative territory, in Twitter light on rumors that Carl Icahn is buying. Oil rose 0,56% to 97,89 dollars a barrel. OPEC confirmed its forecast of a slight increase in oil demand in 2014 thanks to an acceleration in global growth. The euro dollar made new highs up to 1,38 and then retraced to 1,3773. In Piazza Affari at the bottom of the Ftse Mib there is Tenaris -2,4%, Gtech -1,84%, Campari -1,36%. In contrast to the top of the FtseMib Stm +3,66%, Buzzi Unicem +3,17%, Enel Green Power +2,98%, Telecom +2,74%.
