Afternoon braking for Piazza Affari in the wake of Wall Street. However, the Ftse Mib closed the session up by 0,42%. The other European Stock Exchanges were also positive: Frankfurt +0,77%, Paris +0,32%, Madrid +0,54% while London closed unchanged.
The stock markets are buoyed by expectations for European quantitative easing and received a shock in the early afternoon from the upward revision of the American GDP. However, some macro data also arrived from the USA which put the brakes on the markets: the index disappointed on consumer confidence released by the Conference Board which fell unexpectedly in November to 88,7 from 94,1 in October as economists expected new highs to be reached. The Richmond area manufacturing activity index fell to 4 points in November from 20 in October. Analysts had expected a limited decline to 16 points. Oil drops 1,45% to 74,68 dollars a barrel, the euro-dollar exchange rate rises by 0,19% to 1,2466. Gold rose 0,18% to $1.198,80 an ounce.
Purchases on Treasuries whose yield fell to 2,3%. The BTPs also did well: the yield on the 10-year bond updated its lows to 2,14% in the afternoon. The spread with the Bund closed at 139 basis points. The US stock exchanges at the end of Europe are mixed: the Dow Jones rises by 0,04%, the Nasdaq by 0,08% and the S&P500 drops by 0,19%. In light of Apple which now capitalizes 700 billion dollars, a new historical record.
In Piazza Affari the best stocks are Autogrill +2,62% and the banks: Bper +2,28%, Ubi Banca +1,91% and Intesa +1,76%. Mediaset rises by 2,02%. Il Biscione is carrying out an assessment on the technological capacity of the Sardinian group Tiscali for an alliance on Premium paid content. Tiscali has recently been at the center of a stock market rally that has led it to gain 35% in two sessions. The stock closed up 5,20% today after 31% yesterday.
Telecom Italia closed flat -0,06% after CEO Marco Patuano cooled worries about a possible capital increase. At the moment, it seems premature to me to talk about it” he commented on the possibility of a capital increase by Telecom Italia, adding that “There is currently no intervention even on Tim Brasil”. At the bottom of the Ftse MibWdf -1,32%, Tod's -1,24%, Cnh Industrial -1,11%.
