During the session, the rise of the main European lists consolidated, closing with gains mostly above 1%. The Ftse Mib is the best index with a rise of 1,41%, London rises by 1,14%, Frankfurt by 1,31%. Only Paris stops at +0,9%.
The Btp-bund spread also performed well, closing slightly below 100 basis points and the yield updating its six-month low to 1,415 on a favorable day for Italian debt. The Tesoro placed this morning 6 billion Bot at six months with a negative weighted average return. Thus, after yesterday's case with the placement of Ctz maturing in August 2017 at negative rates, even in today's auction the MEF can celebrate after having placed BOTs with a weighted average rate of -0,055%. Demand was 2,12 times supply and, therefore, more than 12 billion euros. For the minimum rate of the 6-month BOT there had already been a negative rate (-0,011%) in April. Italian government bonds are already benefiting from expectations for a monetary policy that will continue to be expansionary for a long time to come.
Furthermore, Istat has announced that the climate of confidence among consumers and businesses is improving. In October, the composite index relating to Italian companies rose to 107,5 from 106,1 in September, while that relating to consumers rose to 116,9 from 113. Both figures are historical results: the business confidence has reached its highest level since October 2007, while that of consumers even since February 2002.
The boost came in the afternoon from the jump in WTI oil +5,7% to 45,49 dollars a barrel after the data on US inventories lower than forecasts. In addition to oil, i good apple accounts, thanks to the iPhone, have helped Wall Street. At the close of Europe, the Dow Jones rose by 0,53% and the S&P500 by 0,62%. However, the markets are waiting for the FOMC meeting from which they are awaiting indications on monetary policy, hoping for a confirmation of the prudent policy on rate increases. The euro dollar rose by 0,17% to 1,1070%.
Purchases on the Ftse Mib are led by the rally of Saipem which flies by 10,89% complete with suspensions in the volatility auction after the news that the Italian strategic fund will buy 12,5% from Eni (the publication is also expected tomorrow morning of the accounts of the Six-legged Dog). Furthermore, the chairman Paolo Colombo has envisaged a possible return to the coupon on 2017 if the objectives of the business plan are met. Tenaris also rose +3,22% among oil-related stocks. Bmps +4,26%, Yoox +3,5% and Cnh Industrial +3,16% were also highlighted.
FCA crashes in Piazza Affari after the quarterly accounts in the red due to provisions. In closing, the stock reduced its losses to -2,18% after losing more than 5%. Sergio Marchionne, speaking to analysts during the conference call on the group's third quarter accounts, reassured himself by confirming the targets for 2018. A difficult day also for Ferrari which in New York, after selling 7%, reduced its losses to -1,9, 52% by recovering the threshold of 1,36 dollars corresponding to the placement price, a threshold which had already been broken down yesterday during. Among the worst of the Ftse Mib also Unipolsai -0,86%, Prysmian -0,61%, Moncler -0,61% and Stm -XNUMX%.
