Purchases are back in Piazza Affari which, after the recent losses, centers the best performance in Europe, +1,78%, 18.815 points, ahead of Frankfurt +1,01%, Paris +1,6%, Madrid +1,35 %, London +0,58%, Zurich -0,18%. The banking sector tries to rear its head, also thanks to the excellent quarterly performance of Mediobanca (+3,84%), while the spread narrows to 310.40 points (-2,63%), together with the yield on the Italian 3,5-year bond, XNUMX, XNUMX%. The crux of the financial manoeuvre, rejected by Brussels, remains intricate, but some confidence is returning on the markets.
The same one that induces Mario Draghi, in the name of "common sense", to trust in the dialogue between the government and the EU Commission, in full compliance with the rules. For the number one of the ECB it would be necessary to tone down and not question the fundamental principles of the euro, to favor the return of the spreads. Today the burning Italian problem was also the subject of a telephone call between the President of the Commission Jean Claude Juncker and the German Chancellor Angela Merkel, together with the other European hot potato, constituted by the Brexit negotiations.
the ECB, in today's meeting, also confirmed its monetary policy, with interest rates at zero and Qe until December at the rate of purchases of 15 billion a month. Subsequently, “if the most recent data confirm the medium-term inflation outlook, net purchases will end”. Eurotower "intends to reinvest the principal repayments on maturing securities for an extended period of time" after the end of the Qe and "as long as necessary to maintain favorable liquidity conditions and a large degree of monetary accommodation".
In the afternoon, the session also benefited from the positive thrust of Wall Street, up after yesterday's losses, also thanks to the brilliant quarterly reports presented by Microsoft and Ford, Twitter and Tesla. The results of other big names such as Amazon and Google are awaited today.
The euro weakens further against the dollar, with the exchange rate around 1,136. Brent-type oil appreciated by 0,53% to 76,57 dollars a barrel. Gold moved little in the area of 1230 dollars an ounce.
In Piazza Affari, purchases reward industrialists such as Pirelli +4,78%, in the wake of Peugeot's sprint (+6,69% in Paris); Prysmian +3,92%; Campari +3,79%. Among the financials, Finecobank +3,74% and Mediobanca did well. Banks are generally positive, while Deputy Prime Minister Matteo Salvini tries to send a reassuring message by saying that the government is ready to intervene if the spread continues to rise. Intesa +2,77% and Unicredit +2,24% shine, the Mps slope climbs a bit, +2,59%.
Insurance is on the rise. In particular Generali, +2,15%. Today Reuters writes that Leonardo Del Vecchio has purchased another 0,08% of Leone, rising to 3,51% of the capital of the Trieste group. Yesterday, the entrepreneur declared that the stake in Generali is a "long-term financial investment, particularly interesting at current prices and therefore destined to rise significantly".
Sales penalize Telecom. -1,65% and Mediaset -0,71%. Stm, -0,62%, retreats again after yesterday's collapse. Tenaris loses 0,35%. A2a, -0,56%, pays the relegation to 'hold' of Kepler Chevreux analysts.
