European stock exchanges in big dust in the wake of Wall Street. The pre-Christmas week opens with stock prices rising sharply, galvanized by progress on the American tax reform.
After losing three percentage points in previous sessions, Milan is among the best places. The Ftse Mib raises its head and closes the day gaining 1,34% to 22.390 points.
EUROPEAN EXCHANGES
In the old continent the best is Frankfurt (+1,6%) which by now seems to believe in the promises of Angela Merkel, convinced that by mid-January they will be able to find an agreement on the formation of a new coalition government, despite the claims of Martin Schulz who would like the ministry of finances. Well too Paris (+1,4%), further back London (+0,63%). positive Madrid (+0,99%) a few days before the Catalan elections.
WALL STREET AND TAX REFORM
Yet another record-breaking day on Wall Street with the main indices traveling at unprecedented levels. Investors are now convinced that the Donald Trump's tax reformbe it done". Tomorrow, December 19, the House will vote on the provision developed by the Republican legislators in Congress, then it will be up to the Senate. If all goes as it should (at least for the Grand Old Party), the provision should arrive on the US president's desk within two days.
US investors are therefore preparing to enjoy the benefits that will shower on large companies thanks to the new fiscal policy by flooding with purchases Wall Street's top three stock exchanges: lo S & P 500 travels up by 0,6%, the Dow Jones earns 0,7%, the Nasdaq it even rose by 0,8%, exceeding 7 thousand basis points for the first time in its history.
Among the companies that make up the technology index stands out the performance of Twitter, up 8,1% after the upgrade of JP Morgan which promoted the title to overweight from hold, with a target price of 27 dollars. In 2017, Twitter shares gained 36%.
CHANGE AND OIL
Oil rises after statistics on drilling activity in the US which recorded the first drop in the last 5 weeks: the Brent gains 0,7% to 63,67 dollars a barrel, while the wtf it advanced 0,45% to $57,56.
Il exchange euro Dollar settles at 1.1799 (+0,4%), purchases also on thegold (+0,6%) to 1263.39 dollars an ounce.
SECONDARY
On fixed income, the spread between BTPs and Bunds fell to 149 basis points (-1,19%) with the yield on Italian ten-year bonds remaining at 1,8%.
WHAT HAPPENED AT PIAZZA AFFARI
In Milan shines Saipem which, in the wake of the increases in oil prices, recorded the best performance of the Ftse Mib (+4,69%).
Highlights too the securities of the Fiat Chrysler galaxy thanks to Fitch's decision to upgrade its long-term debt rating. CNH +2,8%, FCA +2,53%, Exor +2,08%, Ferrari +1,92%.
Sharply up Leonardo (+ 2,98%) and Buzzi (+2,73%). Well Moncler (+2,27%), boosted by the preventive agreement with the Italian Revenue Agency on the Patent Box and on the resolution of the ongoing tax audits.
Banks recovering: the plus sign rewards Unicredit (+ 1,7%) and Intesa Sanpaolo (+0,5%). Purchases on Ubi Banca (+1,68%), Banca Generali (+0,7%), Mediobanca (+0,5%), Bper (+0,2%). Sales on Bpm bank (-0,7%).
Among the utilities it does well Enel (1,96%), while among the oil sectors it is also worth mentioning the performance of Eni (+0,86%).
At the bottom of the Ftse Mib is Mediaset, which lost 2,38%. The hearing scheduled for tomorrow on the Premium case has been postponed pending an agreement with Vivendi. In red Pirelli (-0,9%).
Outside the Ftse Mib we must underline the performance of Monte dei Paschi, which ended the session up 3,3% after the Ministry of the Economy made a proposal the appointment of Stefania Bariatti as president and of Antonino Turicchi as vice president of the Sienese institute.
Lastly, it should be noted that today the sale of the unopted rights for the capital increase by was completed Carige Bank: the 128,88 million rights still on the market were sold today, after the 149,5 million sold on Friday. The exercise can be carried out no later than 21 December.
