The European stock exchanges travel on the highs of the last ones five years on expectations of a possible cut in interest rates by the ECB as early as this Thursday and supported by the US macroeconomic results. Piazza Affari closed up 0,76%, driven by Saipem +5,20% and the Fiat galaxy. Exor +3,55%, Fiat +2,69%. The Lingotto benefits from the Iveco effect which could obtain a supply of the Lince vehicle for the US army. Fidentiis analysts, citing the recent presentation of the quarterly accounts of the former Fiat Industrial, expect an improvement in the margins of the truck manufacturer, which could supply its Lince vehicle to the US army in collaboration with Jeep.
Paris +0,36%, Frankfurt +0,33%, London +0,43%. Madrid +0,36%. The data for the Eurozone manufacturing PMI index has been released. In October it rose slightly to 51,3 points from 51,1 in September, confirming the flash estimate of 24 October last year. In Italy there was a slight drop in the index to 50,7 from 50,8 in September against expectations for a rise to 51 points. In the meantime, Istat has released data on forecasts for 2013 GDP which will drop by 1,8% while growth of 2014% is expected in 0,7. In the latest official estimates, the government indicated -1,7% for 2013 and +1% for 2014. ”We have slightly different opinions”, ”the modest difference is due to the activities of the structural reform process” and ”to the measures on reimbursements of the Pa debt”, commented Economy Minister Saccomanni. Unemployment is forecast by Istat at 12,1% in 2013 and 12,4% in 2014. The fifth issue of the 4-year Btp Italia starts tomorrow, with a guaranteed minimum coupon of 2,15%.
From the United States came the data on orders for manufacturing companies in September which rose by 1,7% in September, slightly below the expectations of analysts who were pointing to an increase of 1,8%. Wall Street opened in positive territory and then turned negative. At the close of Europe, the Dow Jones dropped 0,13% and the Nasdaq moved slightly below parity. Blackberry collapses after the stop to the sale. The euro-dollar exchange rate is at 1,3511 +0,18%, WTI oil at 94,51 dollars a barrel (-0,11%).
In Piazza Affari the worst title is Bpm -2,91% which pays for the uncertainties about governance. Tomorrow the appointments committee is on the agenda to try to untie the knot of succession after Montani's transfer to Carige -2,29%. Meanwhile in Genoa, the Guardia di Finanza has acquired the documentation relating to 32 credit lines, for a total of one billion euros, in the Carige branch of the Ligurian capital, as part of the investigation which began after the reports of the Bank of Italy inspectors. The hypotheses of crime are those of obstructing the supervisory activity, money laundering, false accounting and false corporate communications. The file is still in the hands of unknown persons. At the bottom of the Ftse Mib also Pirelli -2,32%, Ansalso -1,48%, Wdf -1,43%. Mps rises +1,20% with the interest of US funds that could buy part of the shares held by the Mps Foundation. Also in light Azimuth +2,46%
Indesit jumps on the price list +13,67% on press rumors about a possible international alliance. Among the possible partners, the rumors indicate Electrolux, Whirlpool, General Electric and the Turkish Arcelik. Consob has given the go-ahead for the listing of Savino Del Bene Savino Del Bene, which will bring up to 31% of the capital on the market. The operation will start on November 18th and will end on December 2nd.
