After the warnings of the ECB and the IMF on the deficit, Prime Minister Letta reassures that the conditions exist for not exceeding 3%. Piazza Affari closes with a slight rise to +0,14% at 17.547 points while the spread briefly touched 265 basis points before returning to 260. The new rise, however, is attributable to the fall in yields on the bund to 1,96% while the yield of the BTP remained stable at 4,58%.
Slightly above parity with the exception of London -0,08% also the other European markets: Paris +0,19%, Frankfurt +0,18%, Madrid +0,19%.
Wall Street opened in positive, albeit fractional, territory. Markets are now looking to next week's FOMC meeting: will Bernanke start tapering? Today the last important macro data were released before the appointment with the US central bank which disappointed expectations. Retail Sales climbed 0,2% vs. 0,4% expected and University of Michigan Consumer Confidence fell to 76,8 points. The euro-dollar exchange rate gave ground slightly to 1,3276 (-0,17%), wti oil fell to 107 dollars a barrel (-0,69%) and gold lost 1% to 1.316 dollars a barrel ounce.
In Piazza Affari, Mediaset shines +3,73% in the wake of a report by Nomura, which has revised upwards (from veteran to neutral) its opinion also on the Spanish subsidiary. A2A +2,03%, Luxottica +1,37%, Pirelli +1,12%, Eni +1,10% also performed well. At the bottom of the Ftse mib Bper -2%, Finmeccanica -1,63%, Fiat -1,44%.
Sergio Marchionne told the press that the update on the Fiat targets will arrive at the end of October, noting that “there are positive and negative signs. We are evaluating everything now ”. Ferragamo -1,25%. Telecom Italia -1,3%: Elio Catania resigned from the board after the Rome magistrate banned him from office for two months as part of the investigation that sees the manager under investigation for insider trading "in order to allow for a serene performance of the board's activities, in such a complex phase for the company, and of the work of the investigators, in reiterating the full correctness of my conduct".
