Corporate America picks up the pace. The strength of the recovery of the US economy emerges from the quarterly reports of some leading companies, from Caterpillar to Microsoft. For once, Europe follows, thanks to better-than-expected data. But Ebola took care of spoiling the party. In the evening it was confirmed that the virus had hit New York, a few kilometers from Wall Street, with the hospitalization of a doctor who operated in Africa. The news slowed down the progress of stock exchanges in Asia, which are still in positive territory.
The Nikkei index in Tokyo, while reducing initial gains, still climbs 1%. The Asia Pacific basket showed a slight loss -0,1%. Weak Hong Kong -0,3% and Shanghai.
Futures on US stock exchanges, after the news on the virus, instead recorded a drop of 0,7% compared to the American closure.
Last night a very positive closing for Wall Street: the Dow Jones index rose by 1,31%, the S&P 500 in turn by 1,3% and the Nasdaq by 1,6%.
MICROSOFT RISES TO THE CLOUDS: +4% AFTER COUNTS
Apple still up 1,8%. Microsoft's +4% rally after the Stock Exchange was impressive thanks to excellent quarterly data: +25,2% in sales, growing profits (54 cents per share against the 49 expected) after having fully expensed Nokia's restructuring costs. The company, unlike IBM and SAP, has successfully managed the migration to the cloud: revenues for services related to the "cloud" rise by 128%
The 2,3-year Treasury yield rose to XNUMX%.
The euro/dollar exchange rate fell to 1,2646, gold lost ground to 1.228,8 dollars an ounce.
MILAN SNOBES KATAINEN'S REVIEWS, BUT BTP ITALIA DISAPPOINTS
48 hours after the response to the stress on the banks, Europe too has embarked on an upward path thanks to the rebound in the industrial PMI (company purchase index).
Frankfurt +1,2% rises, in line with Paris +1,28%. Followed by Madrid +0,82% and London. The preliminary confidence index of consumers in the Eurozone also contributed to improving the sentiment of EU price lists, which stood at -11,1 points in October against the -12 expected and -11,4 in September, boding well for a recovery in consumption in the coming months.
Piazza Affari +0,88% closed up a session that began under bad omens: after the publication of the letter from EU Commissioner Jury Katainen criticizing the stability law, the Ftse Mib index marked a minimum of 19.037, for then rebound on the wave of European and US macro data to a maximum of 19.434.
The spread between the BTP and the Bund closed at 162 basis points and the 2,51-year domestic rate settled at XNUMX%.
On the primary market, the placement of the seventh edition of the BTP Italia fell short of expectations, raising only 7,5 billion euros (4,6 billion from the retail public). The Italian Treasury has decided to raise the definitive coupon of the issue by 10 basis points, from 1,15% to 1,25%.
CATERPILLAR TRAINS WALL STREET, MARCHIONNE TAKES ADVANTAGE OF IT
The US quarterly reports are driving the stocks of the Exor team, to the satisfaction of Sergio Marchionne who sees his strategy rewarded just a few days before the London board of directors of Fiat Chrysler.
Salt first Industrial Driver's License + 2% driven by news coming from Caterpillar + 4%.
The world's largest construction equipment maker has revised upwards its earnings per share estimates for the current year. In the July-September period, the demand for excavators, bulldozers and other machines used on construction sites increased,
General Motors it beat earnings estimates in six of the past few quarters to finish the third quarter with earnings per share of 97 cents, 2 cents higher than expected.
Fiat Chrysler gains 1,2% on the heels of the competitor from Detroit.
Pirelli, unchanged, suffered the negative impact of the rival's accounts Michelin -4,8% in Paris, worst blue chip of the Cac40. The tire maker revised its volume growth estimates downwards in 2014 after posting a 4,6% drop in revenue in the third quarter. Turnover was approximately 4,9 billion euros, against analysts' estimates of just over 5 billion.
OIL, ROSNEFT PURSUES SAIPEM IN THE SIGHT
The improvement in expectations, in addition to the news of a tightening of the Saudi offer, has also given wings to oil: Brent oil futures rise by 2% to 86,5 dollars a barrel.
Oil stocks take advantage of this.
They go up Eni e Tenaris , both +1%.Highlights Saipem +2% after the words of Igor Sechin, number one of the Russian Rosneft (large shareholder of Pirelli) who said he wanted to come forward when the sale process opens.
Also Saras +4% (fifth rise in six sessions), already in the orbit of Rosneft, benefited from Sechin's statements: “Rosneft's shareholders – he said – are satisfied with the investment in Saras. If there are other efficient proposals we will consider them. The cash flows that Rosneft generates allow us to continue with our investment plans."
Trevi stands out among the oil equipment +5%
BANKS, TOWARDS THE NIGHT BEFORE EXAMS
The countdown to the comprehensive assessment (sum of the various exams on the banks) of the ECB has begun. Time X is set for 12 on Sunday, when the ballots of 130 institutes that manage 85% of jobs in the European economy will be published.
According to experts, the number of banks that will be called upon to further strengthen the capital structure varies from 11 to 18, according to Pimco's forecast,
In Milan, meanwhile, bank stocks closed in no particular order: Monte Paschi, after Wednesday's rally, lost 1,15%, B by 0,4%. On the other hand, Bpm rose +3,04% despite the news that BlackRock reduced its stake from 5,149% to 4,959%. Intesa +0,69%, Unicredit + .12%, Ubi +0,73% Banco Popolare +1,51% also grew. Mediobanca +1,35%.
Unicredit rises by 1,5%: the Prelios-Fortress consortium is moving towards exclusivity for Uccmb, the bank within the group that deals with non-performing and non-performing loans.
WDF AT THE TOP OF THE FTSE MIB BASKET, PROMOTED BY THE LUXOTTICA SUMMIT
In the rest of the price list, the collection of World Duty Free +5,7%, at the head of the Ftse Mib basket: since January 28, the stock has fallen by XNUMX%.
Following the appointment of Adil Mehboob-Khan as co-CEO, Luxottica rose by 1,91% to 38,86 euros
