THE CHINESE INDUSTRY STARTS AGAIN. TOKYO +1,3%
THE EUROPEAN STALE DOESN'T SCARE BTPs
It hasn't happened since October 2011. The index of purchases of Chinese companies signals the first rise in 13 months, to 50,4 above the bar that separates the expansion from the negative trend.
Asian stock markets reacted to the news with an increase: Tokyo rose by 1,3%, Hong Kong +0,5%.
Positive ending also on Wall Street, closed today for Thanksgiving Day.
US stocks closed up: Dow Jones +0,38%, S&P +0,23% and Nasdaq +0,34%.
Positive session also for Piazza Affari and the other European Stock Exchanges, despite the deadlock in the negotiations in Brussels on Greece and the EU budget.
In Milan, the FtseMib index rose by 0,8%, London ended the session with parity, Paris +0,4%, Frankfurt +0,1%.
It was enough, in short, to hear the magic word “buy back” and the clouds are removed, at least momentarily, from the turbulent skies of European debt. The statement was made by Wolfgang Schauble, Minister of Finance according to which Greece could proceed with a buyback on its government bonds at market price and obtain new loans at reduced rates. A possible compromise? Angela Merkel is confident in an agreement as early as Monday. The markets, however, show that they don't believe in Athens' failure.
ASIA
The Chinese locomotive is showing robust signs of recovery. Asian stock exchanges believe it, with one exception: Shanghai. This morning the Chinese stock price list fell by 0,8%, nullifying the leap of the day before, on the wave of rumors about the reduction of the compulsory reserve.
The prevailing opinion is that the appointment with the real recovery cannot occur before mid-2013, when the direction taken by the new leaders will be understood.
AMERICA
Today the financial markets are closed for the Thanksgiving holiday and on Friday they close at 19.00 ET.
The tug of war weighs on Thanksgiving Day sales, the traditional launch day of the Christmas campaign Wal-Mart -0,2%. The dispute between the company and the union organizations will probably not be resolved in the next few days.
Contrasting macro indications: applications for unemployment benefits are down, but so is the confidence index.
Ben Bernanke, in his speech at a conference in New York, scared investors by drawing attention to the possible negative consequences in the event of no agreement on the issue of the fiscal cliff. The governor specified that the Federal Reserve does not have unlimited resources to avoid a recession.
EUROPA
The Italian 4-year spread fell by 338 basis points to 10, the lowest since the end of October, for a 4,82-year BTP yield of 10%. Earn between 30 and XNUMX basis points for XNUMX-year spreads of Spain, Portugal and Ireland.
There are other signs of easing for the peripherals: the yields on bonds up to 2 years in Finland, the Netherlands, Austria and Germany no longer show yields below zero. Only Switzerland and Denmark remained below this level (symptom of strong distrust in the Eurozone system).
As far as stock markets are concerned, in terms of sectors, it should be noted in Europe the rise of automotive companies (Stoxx +0,9%), insurance companies (EuroStoxx +0,8%) and telecoms (Stoxx +1,2%).
The latest issue of the German financial newspaper Financial Times Deutschland will appear on newsstands on 7 December. This is what the Frankfurter Allgemeine Zeitung reports, thus confirming the rumors of the last few days. Again according to the newspaper, 320 of the 350 journalists will be fired by the end of January.
ITALY
Rebound session in Piazza Affari. It is no coincidence that the best blue chip is Banca Popolare di Milano +3,5%, heavily targeted in recent sessions. Brilliant too Intesa Sanpaolo , up 2,3%. Unicredit rose by 0,7%,
Also Fiat rebounded after yesterday's crash and rose 1,6%, Pirelli + 1% StM it gained 1,4%.
Consistent increases also for Lottomatica + 2% Diasorin +3,1% and Mediaset + 3%.
Enel it finished up 1,8%, the same change for the subsidiary Enel Green Power +2,2%. leap of Iren + 5,9%.
Among the small caps good rises for Brunello Cucinelli [BCU.MI] +4,5% e Saras + 4,8%.
