Unexpected positive start for Piazza Affari and the other main stock exchanges of the Old Continent. Fresh from a series of sessions in the red, the lists preferred to opt for a few coverings and look optimistically at China rather than reflecting on the FOMC Minutes. As widely expected, the Federal Reserve has announced the gradual exit from the economic stimulus program by the end of the year and the definitive closure of quantitative easing by mid-2014, obviously in the case that the stars and stripes economy improves as expected.
Perhaps because it had already been discounted previously, the tapering effect does not seem to have disturbed sentiment that much, also thanks to the positive indications from the Chinese manufacturing PMI, which unexpectedly returned to expansion in August. A day full of macroeconomic insights: pay attention to the manufacturing PMI in the Eurozone. In terms of currency, the euro depreciates a bit against the dollar to 1,3345 usd due to the effect of the FOMC. Among the European lists, London is up by half a percentage point, Frankfurt by 0,84%, Paris by 0,70%. In Piazza Affari, the Ftse Mib jumped by 1,38% supported by generalized purchases in all sectors. The best stock is Prysmian thanks to the increase in the target price by Berenberg.
