In the middle of the session, the Btp-bund spread fell slightly to 313 and the FtseMib was up 0,87%, driven into positive territory by the banks' rally after a red start. Bpm +3,07%, Bper +2,45%, Banco Popolare +2,31%, Ubi Banca +2,30%, Unicredit +2,22% run.
The other European markets are close to parity: London travels at +0,08%, Frankfurt has slipped below parity to -0,02% and Paris scores +0,22%. The euro climbs back to 1,3062 also helped by the positive electoral result in support of Rajoy in Galicia, however the push for independence in the Basque Country continues to worry.
Meanwhile, Eurostat has revised upwards to 9,4% the 2011 figure of the deficit/GDP ratio in Spain and Greece on the basis of the figures provided by the states. At Eurozone level, the 2011 deficit/GDP figure is 4,1% from 6,2% in 2010, while in the EU the ratio is 4,4% from 6,5% in 2010. The debt ratio is on the rise / GDP rose to 87,3% from 85,4% at the end of 2010 in the Eurozone and to 82,5% from 80,0% in the EU.
Negative data from Japan and Australia: Japanese exports collapsed in September with a drop in sales to China and Europe, while Australia revised its growth estimates downwards to 3% for 2012-13 (against the previous +3,25 .XNUMX%) and also reduced the estimates of the budget surplus, explaining that its economy, centered on raw materials, is feeling the effects of the worsening of the global situation.
While waiting for the third debate between Barack Obama and Mitt Romney for the presidential race in the USA, growing tensions are being registered in the Old Continent between Germany and Great Britain. German Chancellor Angela Merkel has warned British Prime Minister David Cameron against continuing to veto the question of the EU budget, on pain of canceling the next European summit, scheduled for November.
At the bottom of the Ftse Mib, Snam is down -3% after the detachment of the dividend at 0,1 euro per share. Citigroup trimmed the target price by confirming the buy recommendation. Diasorin -2,59%, Prysmian -1,32% after competitor Nexans revised its sales targets downwards. Mediaset -1,20% under pressure awaiting the third quarter accounts, which will be published on 13 November and which, according to analysts, will show results lower than previous estimates.
