The start of Wall Street towards new records affects the European stock exchanges in the second part of the session. Milan updates the highs from the beginning of the year and stops up by 0,51%, at 22.811 points, with Ubi queen of the list, +4,33% after the promotion to 'buy' of Societe Generale. Ferrari also bought well, +2,62%, despite the disappointment of the last Grand Prix, in Malaysia.
The markets are also supported by macro data, in particular the PMI indices on European manufacturing activity at their highest in 6 and a half years and the corresponding positive US index.
The background tragedies and high political tension in Spain seem to have little impact at the moment. Paradoxically, the Las Vegas massacre provoked a rally of arms companies in New York, from Sturm Ruger to American Outdoor Brands, formerly Smith & Wesson. The market is betting on the fact that sales will increase, fueled by those who want to arm themselves to defend themselves in case of need.
The other European price lists: London +0,9%, with Ryanair recovering; Frankfurt +0,58%; Paris +0,39%. The only square in red is Madrid, -1,38%, following the Catalan referendum and confrontation with the central government.
The banks suffer especially. Brussels, called upon by pro-independence activists to mediate, embraces the thesis of the illegality of the consultation, but invites Madrid to political dialogue. The Spanish problems weigh on bonds and affect the spread of all the weakest countries in the Eurozone. The yield of the 10-year BTP rises to 2,64% and the differential with the Bund to 175.20 basis points, +2,28%. The single currency also suffered, depreciating against the dollar, with the exchange rate at 1,17354 (-0,61%).
Oil down, after a great comeback in September. Brent is down 1,98% and is back in the area of 55,47 dollars a barrel.
The performance of crude oil penalizes oil stocks in Piazza Affari, the worst is Saipem -1,1%.
The best stocks of the session, together with Ubi and Ferrari, result Stm +3,67%; Ferragamo +2,4%; CNH +1,87%. In the lower part of the Mediaset price list -0,48%; Finecobank -0,53%; Bench Bpm -0,91%. The worst blue chip is Telecom, -1,89%, with the Government oriented towards accelerating on the "Golden Power". Fractional earnings for Fiat, +0,86%, while Sergio Marchionne, answering a question about the Magneti Marelli spin-off, says that “no within this year, but Magneti Marelli has a huge role to play”.
The best stock market share today is Biancamano, +39,44%, followed by Gima Tt, +22,4%, on the day of its debut in Piazza Affari.
