European stock markets rebound after the shock of the shooting down of the Russian plane over Türkiye. Oil Brent, one of the best gauges of geostrategic risk, was down 1% to $45,7. Meanwhile, the price of gold, the other indicator of the level of fear of the markets, remained unchanged. At least for now, the risk of a military response from the Kremlin to Erdogan seems contained. On the contrary: this morning Moscow proposed to coordinate the attacks against Islamic State militants in a joint command with the USA, France and other countries that intend to participate, including Turkey.
A Milano the FtseMib index rises by 1,13%, the Stock Exchange of Paris earn 0,9%, Frankfurt +0,5%. The shareholder of is an exception Madrid, which loses almost 1%, driven by the banking sector, which discounts the latest EBA report and the Abengoa crisis, which started the bankruptcy procedure after the flop of the attempted purchase by potential investors. The EU banking authority said yesterday that Spanish banks have an average bad debt of 7,1%.
In Italy, Istat has published orders to industry for September: the index adjusted for seasonal effects fell by 2% compared to August, an improvement from the -5% of the previous month.
La ECB announced that it intends to suspend Qe-related bond purchases (from December 22nd to January 4st included. The reason lies in the lower liquidity of the market, a typical year-end phenomenon. Purchases will resume from January 2016th 27. From November 21th to On the other hand, on XNUMX December bond purchases will increase to take advantage of the better market conditions expected in the first part of December.
Ahead of the upcoming ECB meeting, euro zone central bank officials are weighing options, such as imposing higher deposit charges or buying more debt, a Reuters report said. A possible buy-back of potentially uncollectable 'bundled' loans is also being discussed, although a radical step in this direction is highly unlikely at the moment.
In Piazza Affari it takes off Finmeccanica (+2,67%) on the wave of the allocations for security (1 billion euros) decided by the government. Eni 0,6% salt, Tenaris loses 0,1%. Advance Enel (+1%). This morning the company set the value of the exchange for the merger of the subsidiaries Endesa Américas and Chilectra Américas into Enersis Americas. Lively Telecom Italia (+1,04%) awaiting the afternoon board meeting. The markets are already assuming the effect on the accounts of the sale of a stake in Inwit (+0,38%).
Fiat Chrysler + 0,3%. StM +0,3%. In an interview with the French newspaper Le Figaro with the managing director Carlo Bozotti, the manager says that there will be no closure of production sites in France and that such a hypothesis has never been taken into consideration.
Collected in Piazza Affari for asset management. In October, the asset management industry experienced a slowdown in funding to 5 billion euro from 8,7 billion in September, the worst monthly figure of the year, but the net balance since the beginning of 2015 still comes close to 126 billion, one step away from the absolute record of 2014 (128,7 billion). Assets in October marks a new all-time high of 1.816,13 billion.
On the rise Azimuth (+1,8%) which today signed an agreement to acquire the entire share capital of Harvest Wealth. This is the group's sixth acquisition in Australia. They also advance Soul Holding (+ 2,5%) and Mediolanum (+1,3%). Among the banks, Understanding salt of 1,2%, MontePaschi + 1,2%.
Unicredit +0,8%. CEO Federico Ghizzoni responded this morning to Barclays' report according to which Unicredit would need 7 billion euros of new capital by 2018. "There have also been 42 reports that say the opposite", replied the banker at the end of the meeting with the chairman of the supervisory board of the ECB Daniele Nouy.
Generali +0,8%. This morning Exane Bnp Paribas cut the judgment on Underperform from the previous Neutral. The target price is 17,5 euros. The change in recommendation is contained in a report that raises the sector of European insurance companies to Overweight, from Neutral.
Astaldi at the opening it jumped by 3,46% to 5,235 euros. Banca Imi has raised the recommendation on the stock from add to buy, however lowering the target price from 10,8 to 8,85 euros.
