Piazza Affari is a red dot on a green field today, with European stock prices close to their four-year highs and Wall Street ready to hit new records, before the long weekend for the Thanksgiving holiday.
Il Ftse Eb loses -0,26% and closes at 23.485 points, after a change of pace by the banks in the middle of the session and with the Juventus down (-2,98%, 1,4 euro per share), following the announcement of the price of 0,93 euro of the capital increase of 300 million euro. The optimism triggered by international progress on duties therefore leaves room for some uncertainty on the Milanese price list, fueled by the drop in consumer confidence which, in November, reached its lowest level since 2017 (10,8,5 from 111,5 in October) .”The negative trend – reports Istat – is determined by the worsening of judgments and expectations on the Italian economic situation, as well as by the increase in expectations on unemployment”. Corporate sentiment, on the other hand, is “slightly increasing” (to 99,1 from 98,9 in October). There is also the position taken by the minister of the economy Roberto Gualtieri on the Mes: the treaty that reforms the European bailout fund - argues Gualtieri - will be signed in February and there are no conditions to reopen negotiations on the text. "It would be negative" for Italy, he says, not to sign the reform.
Prudence is thus poured into the secondary, where it is spread between Italian and German ten-year bonds, it rises by 2,63% to 158 basis points and the yield of the Italian BTP rises to +1,21%. On the primary side, however, the yield remains stable for the six-monthly bonds assigned today by the Treasury.
The other European markets are moderately positive: London +0,36%; Frankfurt +0,39%; Paris +0,02%; Madrid +0,42%. We remain cautiously optimistic about the progress of the trade dialogue between the US and China, after yesterday Donald Trump announced that he was in the final stages of the negotiations. A perspective he continues to advocate Wall Streett, opposed at startup. The S&P 500 and the Nasdaq are currently continuing their run, after the highs reached yesterday and the DJ also moves to the edge of parity, encouraged by solid economic data. The dollar strengthens against the main currencies, in the light of better-than-expected preliminary data on US GDP for the third quarter: annualized growth is +2,1%, against the estimated +1,9% and +2% in the second quarter.
THEeuro it suffers against the greenback, but floats around 1,1001, after breaching the 1,1 threshold at the American open.
Fractional declines lap the raw materials: thegold dances around 1461 dollars an ounce (-0,44%) and the Petroleum type Brent yields 0,8% and falls to 62,70 dollars a barrel.
In Piazza Affari, among the blue chips that mark the greatest increases today there is nexi +3,51%, galvanized by the maneuvers in favor of electronic payments. Furthermore, according to a report by Citi analysts – writes the Sun 24 Hours – the one billion alliance that Nexi is negotiating with Intesa Sanpaolo (-0,62%) does not create obstacles to a subsequent merger with Sia to create the Italian champion.
Bene Ferragamo +2,94%; Amplifon +2,04%; Recordati +0,96%. Stay well bought Buzzi, +0,95%, after yesterday's gains. The race continues in the same sector Cementir (+4,19%), on the assumption that the damage from bad weather will increase cement consumption. Stay weak Atlantia, -1,41%, with the sword of concessions always over the head. The group is also bad gavio (Astm -1,39% and Sias -1,08%), ready to rebuild the collapsed viaduct on the A6 in a maximum of 4 months.
At the bottom of the list Cnh, -2,77%; Juventus; Pirelli -1,82%; Bpm bank -1,78%; Ubi -1,75%.
Enel is flat, +0,06%, but received an “AAA” rating for the first time, up from an “AA” rating in 2018, by MSCI ESG Research Ltd. (“MSCI”), a leading provider of research and data that measures the performance of companies based on environmental, social and governance (ESG) factors. Enel was among the top ten utilities included.
