Moderately positive start to the week for Piazza Affari, +0,27%, which joins the other European lists in a well-tuned session thanks to the improvement in US-China relations. Fiat raises its head, +3,21% and purchases return also on the secondary market, on the first day in which Greece is free from the influences of the Troika. The yield of the 10-year BTP drops to 3,04%, while the spread with the Bund narrows by 4,54% to 273.10 points.
However, the issue of Italian accounts remains hot. Today, undersecretary to the Prime Minister, Giancarlo Giorgetti, speaking with Skytg24, said he did not rule out the possibility that the 3% ceiling on the deficit/GDP ratio may be breached in the next budget law, in order to continue investments in infrastructure maintenance and on this issue the Government is ready for a close confrontation with Europe.
The Ftse Mib closes at 20.470 points, despite a new crash by Atlantia, -4,68%, on the day in which the subsidiary Autostrade per l'Italia received the letter of objection from the Ministry of Transport for the collapse of the Morandi bridge in Genoa . MIT has given the company 15 days to provide the related counterarguments. Today the White House also announced a phone call from President Trump to the Italian premier, Giuseppe Conte for condolences and "to offer assistance" after the tragedy of August 14.
In the rest of Europe, Frankfurt shines, +0,99%, galvanized by the resumption of the dialogue on tariffs between Beijing and Washington. According to the Wall Street Journal, meetings between the diplomats of the two superpowers will be held on Wednesday and Thursday, while Donald Trump and Prime Minister Xi Jinping should meet in November.
Paris +0,65%, Madrid +0,54%, London +0,46% also did well. Wall Street, after a matching opening, continues in contrast. In red the Nasdaq, with subdued technology. However, Sodastream international is flying, (+9,7%), after the announcement that PepsiCo (+0,02%) intends to buy the Israeli company for 3,2 billion dollars or 144 dollars per share. On the other hand, Tesla's negative trail (-1,69%) does not stop.
The euro-dollar exchange rate was stable, in the 1,143 area, while the Turkish lira remained weak (6,19), however far from the worst point reached last week. Meanwhile, Ankara has filed an appeal with the World Trade Organization (WTO) to counter the duties on steel and aluminum imposed by the United States
Gold moved little, +0,11, at 1186,38 dollars an ounce. Positive oil, like Brent: +0,42%, 72,13 dollars a barrel. In Piazza Affari, oil stocks close with different signs. The session is particularly positive for Eni, +1,19%, while Saipem, -2,7%, is among the worst performers on the list, -2%. A2a -1,91% and Poste -1,58% also suffer. Realizations penalize Unipol -1,86%.
On the other hand, the Agnelli galaxy did well: Fiat, Exor, +1,99%, Ferrari, +1,52%. Purchases reward Campari +2,84%, Moncler +2,36%, Banca Mediolanum, +1,6%. Outside the Ftse Mib Salini Impregilo, +5,98%, celebrates a double announcement regarding the subsidiary Lane, namely the sale of an asset and a contract.
