European stock markets timidly up a few hours after the end of a positive week: the lists are preparing to close the sixth consecutive week on the rise. Business Square +0,3% is balanced around 23.500 points. Change of +0,17% for Frankfurt, little better Paris +0,36%, Madrid recovers 0,48%. Worse Londonhalf a point down. Weighing on the City are the fears that British Labor could partially nationalize the network of the operator BT if they win the elections on 12 December. On the contrary, in Paris it stands out Orange +2.% after the announcement of the separation of the towers. But the market's attention is concentrated about the possible merger between Saipem +1,3% with Norwegian rival Subsea 7 to create a giant of oil services in Europe which, at current prices, could capitalize 7,3 billion. Sensible operation according to Mediobanca due to the potential cost reduction and greater bargaining power. Eni + 0,06%.
Meanwhile, the grip on BTPs is loosening. The 1,27-year yield falls to 5% (-XNUMX basis points), while the spread drops to 163 basis points. The Sole24ore related the trend of the spread to the closure of the Taranto steel plant. Tonight the Canadian rating agency DBRS will update the rating on Italy, now at BBB: no changes are foreseen.
little moved theeuro dollar, to 1,101, following the release of eurozone inflation data. In October, the growth of consumer prices slowed down to +0,1% month on month, the consensus was expecting +0,2%.
In a few hours, the meeting with the company and trade unions dedicated to Ilva will be held at the Ministry of Economic Development: the CEO Lucia Morselli has denied what the Apulian governor Michele Emiliano had leaked yesterday: the multinational has no intention of managing the plants until May. On the contrary, the final closure is scheduled for January.
Asset management still in evidence: Azimut +2,39%, General Bank e Banca Mediolanum +0,5% approx. Corrects Finecobank down 0,2%. Among the banks go up Unicredit +0,4% ed Understanding (+ 0,3%). Unipol +1%. Rising sharply Ivy (+ 1,8%)
Salt on Creval +1,7% A senior manager of Crédit Agricole, shareholder with 5% of Credito Valtellinese, declared that there is interest in strengthening the presence in Italy, also through acquisitions or combinations.
Mediaset little moved after new rumors about a possible agreement with Vivendi which would lead to the disengagement of the French group from the issuer and the end of the legal dispute. The CEO of ProSiebenSat1 ruled out a merger with the Italian group.
Salvatore Ferragamo -1,2% down after the increase marked in the wake of the data in recent days. For a trader, this is a correction, facilitated by concerns over the situation in Hong Kong.
Thump of Geox -3%. Revenues fell by 5,5% in the quarter due to the disappointing performance of products for the spring-summer season. The company has revised its 2019 targets downwards.
