The possible clearing over Syria eases tensions on global stock markets, thanks to good Chinese macro data. Indeed they do well Asian squares closing the ninth good session in a row: Hong Kong with +0,99% with data on industrial production and retail sales in China signaling recovery; Tokyo +1,54% driven by GDP and the 2020 Olympics. Wall Street is also off to a good start, where there is anticipation for Apple's news, and the European stock exchanges close sharply higher. Milano however it remains behind at +0,51%, weighed down by political tensions and by the risk of the fall of the Letta government (at 20pm the Giunta will have to decide on Berlusconi). Paris +1,9%, London +0,82%, Frankfurt +2,1%. Madrid also did well +1,96%. During the day, Spain overtook the spread on the spread for the first time in 18 months, which reduced the differential with the German 248-year bond to 250 points. The Btp-bund spread instead moves around XNUMX basis points.
In Italy Istat indicated that the Italian GDP fell by 0,3% of the economic situation in the second quarter and by 2,1% on a trend basis, worsening the estimates by a tenth of a point compared to the preliminary figure for August. The variation acquired for 2013 is -1,8%. For the OECD, unemployment improved slightly to 7,9% in July while it remains stable in the Eurozone at 12,1%. Italy improves to 12% from 12,1% but youth unemployment rises to 39,5% from 39%.
The euro it is unchanged against the dollar at 1,3255 while WTI oil falls by 2% to 106,66 dollars a barrel. Meanwhile, OPEC has slightly revised upwards its forecasts for global crude oil demand for 2013 and next year, driven by the recovery of the automotive market in Europe: a demand of 89,74 million barrels per day in 2013, from previous 89,71 million and 90,77 million barrels/day in 2014 from the previous 90,75 million. Gold also down by 1,75% to 1.362 dollars an ounce.
Il Ftse Eb it is weighed down by Mps -4,8%, suspended downwards. The bank is finalizing the new plan to meet European requests and will have to launch an increase of 2,5 billion and not 1 billion as originally planned. Fiat Industrial also down -2,47%, receiving the negative opinion of Ubs and Bper -2%. Waiting for news on Telecom Italia's restructuring -0,8%.
Featured on the FtseMib Salvatore Ferragamo +4% in line with the good performance of the European luxury sector, Pirelli +3,4% and Intesa Sanpaolo +2,4%. Unicredit +1,15% and Bpm +0,13% were also positive. However, the banking sector contrasted: Ubi -0,71%, Carige -4,3%, Banco Popolare -0,82%. Mediaset closed unchanged after a roller coaster session with high trading (9 million Mediaset shares, against a daily average of 6,8 million in the last month).
Mediaset it benefits from a report by Goldman Sachs which raises the target to 3,6 euros with a firm judgment at neutral while the market awaits the decision of the Giunta on Berlusconi.
Finally, on the front of Tobin tax, the tax on financial transactions, it should be noted that the legal services of the European Council, charged with verifying the legitimacy of the tax from a legal point of view, have partially rejected the principle of residence according to which the tax is paid by a company whose headquarters general is in one of the Tobin states, regardless of where the transaction takes place. For the EU Commission, author of the proposal on Tobin, the legal opinion is partial and does not change the position of Brussels which would like to see the tax approved as soon as possible.
