Financial markets are moderately optimistic ahead of midterm elections in the United States, who could hand the House and possibly even the Senate over to the Republicans.
In the euro zone, investor morale improves in November, even if the contradictory news from China on anti-Covid policies are curbing risk appetite. In addition, Chinese imports contracted more than expected in October, the war in Ukraine an open wound remains and uncertainty permeates forecasts on the next moves by central banks. For the Fed useful indications can be drawn from the data on US inflation released on Friday.
In anticipation and in a climate of propensity for risk, the index of dollar is declining, theeuro recovers ground and moves on the threshold of parity. Government bond yields are on the rise. Oil is in fractional progress, while the good weather clips the wings of gas prices.
Piazza Affari picks up with Tim, who earns over 10%. Mps also shines
Business Square is once again the best among the main European stock exchanges and closes with a gain of 0,9% at 23.493 basis points, thanks to the boost given to the list by Telecom Italy +10,65%, which is selling like hot cakes since the prospect of a public takeover bid on the stock has strengthened. The design would be that of the Minerva Plan presented in recent months by the current undersecretary Alessio Bucci, who has now announced an imminent meeting with the company's stakeholders. The operation should be carried out by Cdp, while Telecom's main shareholder, Vivendi, would be ready to sit down at a discussion table with the new government.
On the Ftse Mib they archive a more than positive session Iveco + 4,02% General Bank + 3,73% nexi +3,73%. Among the banks it is appreciated Understanding, +3,1%, after the accounts presented last week. On the title SocGen adjusted the target price to 2,3 euros from 2,1 previously, while Barclays brought it to 2,5 euros from 2,3.
Back off though Unicredit -1,86%, drowned by rumors of Financial Times according to which there is "friction" with the ECB regarding the dividend distribution plans and the failure to exit Russia. On the subject of dividends, in general, the head of ECB Supervision Andrea Enria said that the central bank is carefully examining the profit distribution plans of the eurozone banks, at a time when the prospects for the eurozone economy are worsen and markets are volatile. This was reported by Reuters quoting a speech by Enria to the finance ministers meeting in Brussels.
Out of the main basket Ps it recovers 11,73%, while remaining at 1,81 euro per share and therefore below the 2 euro of the recent capital increase.
Returning to the blue chips it is appreciated Generali, +2,01%, which in Portugal signed a long-term distribution agreement with Ctt Group, entering its shareholding with an 8,7% stake.
They go down Snam -1,87% Recordati -1,58% Prysmian -1,42%.
Among the football titles the Juventus celebrates the victory over Inter with a leap of 8,45%.
Mixed Europe and Wall Street shy of the Nasdaq. In Dublin good Ryanair
In the rest of Europe the picture is mixed. Soar Dublin (+1,8%), where Ryanair posts an increase of 1,03% after closing the first half with the highest gross profit in its history and in anticipation of closing the year at pre-Covid levels.
Paris is flat, with investors quickly cashing in on luxury stocks, given the ups and downs of news from Beijing regarding Covid.
They go up Frankfurt + 0,52% Amsterdam + 0,62% Madrid + 0,27%. London loses 0,36%.
Overseas the opening of Wall Street was positive, but the trend appears very cautious for the Nasdaq (-0,2%). Salt instead the Dow Jones +0,4% following Boeing. Among the securities, we note a certain vivacity of purchases on those linked to former US president Donald Trump, in the perspective that the entrepreneur will try again in the 2024 presidential elections.
Vola Meta, after news about a maxi-plan of layoffswhile it is weak Apple Lossless Audio CODEC (ALAC), which plans to ship fewer iPhones due to a production cut at a Covid-hit plant in China. This casts a shadow over the upcoming Christmas holiday sales.
Government bond yields are rising
Tensions on government bonds show no signs of easing. In the US, T-Bond prices are falling and rates are rising. In particular, the two-year bond moves to the highest area since 2007 at 4,711%.
In Europe, the Italian secondary closes in the green, with lo spread between 10-year BTPs and Bunds of the same duration which drops to 216 basis points (-1,77%), but yields remain high. The Btp is at 4,45%, in line with Friday and the Bund at 2,29% (from 2,25%).
