On the markets, after the storm, there is a glimpse of serenity. Piazza Affari gains 1,41% and rises to 18.731 points, driven by the banks which in turn celebrate the decline in the spread. The differential between Italian and German ten-year bonds falls by 4,68% compared to yesterday's closing and stops at 311.30 points. The yield of the 10-year BTP falls to 3,49%. Tensions eased right on the day of rejection of the Italian maneuver by the European Commission, for a "particularly serious" violation of the budgetary rules. The market had probably already priced in the decision and is now hoping for a new phase of negotiations between Rome and Brussels, before the possible launch of sanctions for infringements. However, the demand for Btp Italy: the three days of offers for retail end with a collection of only 863 million, the worst result ever. The institutions are expected tomorrow. Meanwhile, the OECD and Istat warn about economic growth, lowering the estimates.
The other European stock markets are doing well, encouraged in the afternoon by Wall Street which opens positively and seems set to rebound. Frankfurt +1,6%; Paris +1,03%; Madrid +1%; London + 1,52%.
In New York, the main lists open well in tune with the Faangs (Facebook, Apple, Amazon, Netflix and the parent company of Google, Alphabet) recovering. Financials are positive. Well Nike (+2%), supplier of Foot Locker (+16%). The American Stock Exchange is trying to put the previous two horrible sessions behind it and is already looking to the next eighth session. In fact, tomorrow is a Thanksgiving holiday, while on Friday trading will be reduced with early closing at midday.
The Petrolium partially recovers yesterday's collapse, without paying too much attention to the rise in US weekly inventories. Brent +1,09%, 63,21 dollars a barrel; Wti +2,15%, 54,58 dollars a barrel. Gold is in the area of 1227,5 dollars an ounce (+0,48%). The euro-dollar exchange always moves in the 1,14 area, after closing at 1,137 on the previous day. The October macro data weighed on the greenback, in particular on durable goods down by 4,4% (beyond expectations), and weekly claims for unemployment benefits at 224.000, above expectations.
Today's best blue chip is in Piazza Affari Bpm bank, +7,62%, also in the wake of the hypothesis of an axis with Cattolica advanced by the Sole 24 ore. The big banks all post strong gains: Understanding, +2,83%; Unicredit +1,84%; Ubi +2,84%; Bper +3,61%. Out of the main list, Ps + 3,48%.
He catches his breath stm, +4,76%, after the sell-off on the semiconductor sector. Brilliant Banca Mediolanum, +4,26%; Post +3,29%. Well bought Generali, +0,88%, which presented the 2019-2021 plan, with the forecast of a increase in profits and dividends for shareholders and debt reduction.
On the other hand, a minus for the utilities, which withstood the shock wave of recent days. In particular A2a, -1,65% and Terna -0,88%. Sales are consistent for Luxottica -1,06%; Unipol -1,03%; Campari -1,14%.
