The positive performance of Wall Street encourages the European Stock Exchanges, which improve in the afternoon and close higher with commodity and energy stocks among the protagonists. The Ftse Mib scores +0,59%, 22.240 points, with Saipem +2,48% in the lead and Italgas in the rear -1,54%. Among the banks, Intesa did well +1,51% and Banco Bpm +1,98%.
Similar trend for Frankfurt +0,31% and Paris +0,62%; Madrid, on the other hand, was aggressive, +1,02%, on the day of the Catalan elections. London, +1,05% is the best, with the pound down slightly. The euro remains stable against the dollar, at 1,187. Oil rose, which tended to be weak in the morning, following the news that the Forties pipeline in the North Sea, managed by Ineos, will restart in early January. Brent marks +0,28% to 64,47 dollars a barrel. Gold remains in the area of 1266 dollars an ounce.
A rebound for bonds, with the yield on the 10-year BTP stopping at 1,91%. However, the spred improves with the Bund falling by 2,93%, to 149.10 points. A trend that affects many government bonds of euro area countries, while consumer confidence strengthens more than expected in December, according to the flash estimate. The Bonos are also recovering, waiting for the polls to close at 20pm.
Despite the already pre-holiday climate, American stocks toast the tax reform and the Dow Jones reaches new highs during the session. The macro data is contrasting: the economy is in good health, even if the GDP in the third quarter grows slightly less than the estimates (+3,2% against +3,3%). The Philadelphia Fed index is better than previously thought, unlike the consumption, jobless claims and the Chicago Fed index.
Highlights include Accenture, Apple, Chevron, Exxon Mobile and banks. THEn Piazza Affari the credit sector, the one with the greatest weight, tends to recover and close well. Intesa San Paolo is among the best blue chips, after the agreement with the unions, for 9 exits by 2020 and 1.500 entries, with savings, when fully operational, of 675 million euros a year. Weak Banca Generali -1,45% and Generali -0,39%. In red Campari -0,54% and Recordati -0,36%. The purchases reward Buzzi, +1,46%, which should benefit from the US tax reform. Among the oil companies, in addition to Saipem, Eni +0,79 and Tenaris +1,53% shine. Mediaset, +0,98%, celebrates the award of the rights to broadcast the Russia World Cup in Italy.
Outside the main basket, profit-taking penalized Falck -4,59% and Creval, -5,05%, after yesterday's boom. Burst of purchases instead for Trevi, +16,61%; Cit Biopharma +4,14%; Piaggio +3,58%.
