sigh of relief in Business Square for the truce in Europe on the Italian maneuver 2019. The Milanese list stands out and closes with a rise of 1,59%, 18.941 points. The banks are toasting, while car stocks are recovering and Saipem + 3,74%.
The bond is also picking up: lo spread between ten-year Italian and German it narrows to 254.40 points (-5,81%), while the yield of the Italian benchmark drops to 2,79%. The default risk on 5-year Italian debt also fell to its lowest since July, after the risk of an infringement procedure against Rome was averted. The climate calms down, at least temporarily, because Brussels will keep Italy's next moves under control. Dombrovskis warned in fact that the procedure could be started in January if the agreed measures should not be ratified by Parliament. Meanwhile, the cold showers on the tricolor growth continue. In fact, Standard & Poor's revises its estimates downwards: GDP should rise by 1% this year and 0,7% next year, less than the 1,1% expected on 26 October last. Percentages far from the forecasts of the yellow-green government which, in the course of the dialogue with the Commission, also changed its reference economic framework: the programmatic GDP is seen to rise by 1% both in 2018 and in 2019, from the previous ones +1,2 ,1,5 and +XNUMX%.
The session is also positive for the other European lists: Frankfurt, +0,24%; Paris +0,49%; Madrid +0,79%; London +0,96%. wall street, after a cautious opening, she travels in tune waiting to listen to Fed Chairman Jerome Powell at the end of the central bank meeting, which is expected to raise interest rates by a quarter of a point, as expected by the market. This moment has been awaited for days, above all to see if the governor will use more accommodating tones for next year.
By betting on a more dovish Fed, the dollar loses share against other currencies. L'euro instead it is strengthened, with the newfound European cohesion on the Italian front. The exchange rate between the single currency and the greenback is currently in the 1,142 area.
Another special observed in these hours is the Petroleum, which rebounds after the crash the day before: Brent +2,35%, 57,58 dollars a barrel. Crude continues to rise on the Nymex after the release of data on inventories in the US, which fell for the third week in a row although much less than forecasts. Wti 47,9 dollars per barrel +2,79%. Tonic is gold, currently at 1255,14 dollars an ounce (+0,47%).
In Piazza Affari, the Saipem stock is finally having a brilliant day, after having lost almost 40% of its value since the beginning of October, when it had reached its highest levels since the beginning of the year. The company announced that it has been awarded a new contract in Russia, in a joint venture with Renaissance, a Turkish oil & gas services company.
They are also among today's top five blue chips Brembo +3,9%; Ferrari +3,31%; Campari +3,22%; Post + 3,22%.
They do not participate in the banquet Banca Mediolanum -1,36%; Azimuth -0,94%; Telecom -0,62%; stm -0,74%; Diasorin -0,21%. Among the big banks they shine Bpm bank +2,69% and Unicredit, +2,67%, while off the main list Carige recovers 23,08%, after hitting rock bottom yesterday, in view of Saturday's meeting on the capital increase up to 400 million and the reverse stock split.
leap of Ovs, + 18,13%. Tod’s it snaps by 9,43%. Diego della Valle has signed a contract with Credit Agricole for the forward purchase, through the investment bank of the French group, of Tod's shares up to 5% of the capital.
