Donald Trump continues to play with the markets. Yesterday's statements by the president, who did not exclude the postponement of the trade peace with Beijing until after the US elections, were today denied by a note from Bloomberg which reveals how the two sides have already reached an agreement in principle and are discussing the date and place of the signature. On the same wavelength is the tweet of Hu Xinjin, the director of the Global Times, China's unofficial spokesman who believes a Trump announcement from the White House is very probable in the short term, on the steps forward in the negotiations.
The message restored good humor to the Stock Exchanges after the declines in the East. Piazza Affari scores an increase of more than 1% in the middle of the day, overtaking 23.000 points but slightly behind Frankfurt +0,97. The race is led by Paris +1,12% and Madrid 1,18%. BTPs rose slightly, the ten-year bonds at 1,32% (+2 basis points). Spread at 162 points.
The euro/dollar ratio was stable at 1,107 (-0,1%). There GBP moves to the highs of the last seven months against the euro, cross 0,8485, the polls give Boris Johnson more than ten points ahead of Corbyn in view of the elections on 12 December.
The prices of Petroleum surged ahead of this week's meetings of OPEC and its allies, with expectations of further output cuts supporting the market, while industrial data showed a more-than-expected decline in US inventories, further supporting prices. Brent futures +1,73% trade at 61,87 dollars a barrel. Eni +1% and Saipem +1,6% rise.
On positive ground Unicredit +0,88% the day after the presentation of the business plan which provides for the return to shareholders of 8 billion euros in cash dividends (6 billion) and buybacks (2 billion), the reduction of the workforce by 8.000 units and the closure of 500 branches. Bpm +2,2% is better.
Moody's outlook on Italian banks changes from negative to stable. The rating agency communicates it explaining that expectations for 2020 are for a further progressive reduction in non-performing loans. The financing conditions of the banks will improve, the agency explains, and their capital will remain stable. “We expect problem loans from Italian banks to decline in 2020 for the fifth consecutive year,” said Fabio Iannò, senior vice president of Moody's.
Contrasted the judgments of the agencies on Atlantia +1,4%. JP Morgan upgrades rating to Overweight from Neutral, Moody's downgraded rating to BA1, below investability. Sias +2%. The industrialists are positive. Sales Fiat Chrysler +1% supported by November growth of the US car market registers +2,2%.
Stm +1,5%. Global semiconductor sales fell 13% year-on-year, +3% month-on-month in October. Leonardo +1,5% has signed a Memorandum of Understanding with the Colombian Codaltec for a commercial collaboration in the South American country.
Tim +1,5%. The president of Open Fiber, Franco Bassanini, attacks the company on the theme of the single network. “At the moment there is a subject ready to act as an anchor investor and player of this unique infrastructure which is Cdp. However, there is an incumbent who still believes he can substantially return to the monopoly position he had in the past and therefore be able to govern the transition from copper to fiber according to the times deriving from his corporate interests »,
The leap of Moncler +1,8% and Saes Getters +2% should also be noted. WIIT +2%, marks a new historical record.
