A cautious session today in Europe, where the lists close with a slight increase, alarmed by the quarterly reports of Ericsson and Danone, but encouraged by Wall Street, in tune at the start, with J&J accounts and waiting to hear how the third quarter went for the big tech companies. The leap of Xiaomi in China (+5,4%) contributes to a certain optimism, following the announcement that it will mass-produce its electric cars in the first half of 2024.
Business Square is positive and appreciates by 0,25% (26.332 points), thanks to purchases on Enel (+2,53%) and on energy stocks, while you need sunglasses to watch the dazzling debut of the stock Destination Italy on the Aim which scores +125%.
The closure is making slight progress a Frankfurt +0,24%; Better Amsterdam +0,72% and Madrid + 0,68%. Paris it is flat, weighed down by the thud of Danone (-3%) which recorded rising costs and slower sales growth in the third quarter. It also slips heavily Ericsson (-3,73%) in Stockholm, which was somewhat disappointing on the quarterly profit front, but above all experienced supply chain disturbances and this also represents a risk for future months.
The topic is obviously a hot topic and is being watched by investors because it can undermine profits and affect inflation, along with labor shortages and rising energy prices.
And the Petroleum he doesn't want to back down. Brent futures rise by 0,4% to 84,7 dollars a barrel, Wti +0,6% to a whisker from 83 dollars.
On the other hand, the greenback fell (-0,22% the dollar index) also favoring purchases on thegold. Spot gold is fractionally up around 1771 dollars an ounce.
THEeuro changes against the dollar up 0,25% to 1,163. The pound appreciates consistently, while bets on a rate hike by the end of the year are intensifying.
Il bitcoin trades up about 1% above $62.700, on the day of the positive debut on Wall Street of an Exchange-traded fund (ETF) based on bitcoin futures which, writes the FT, "will test the appetite of traditional investors to hold cryptocurrencies in their wallets”.
In the bond market, government bond yields are rising. The 1,62-year US moves over XNUMX%.
On the Italian secondary it spread between 105-year BTPs and Bunds it is stable at 0,93 basis points, but yields are growing. The Italian stock rose to +0,9% (from 0,11% yesterday) and the Bund to -0,15% (from -XNUMX%). Even remotely, the debate between central bankers on monetary policy and inflation continues in Europe. While Francois Villeroy de Galhau, head of the French central bank, argues that there is no reason why the ECB should raise rates between now and the end of next year, Finnish central bank governor Olli Rehn and central bank governor Slovenian Bostjan Vasle, think there is a risk that inflation will rise further. The latter said in an interview with Reuters that due to a series of 'one-off' factors, inflation has risen above the ECB target, raising fears that what has long been considered a temporary increase in prices could become permanent. "There are initial signs that in some areas of the economy and in some regions, risk to the labor market may become more concrete."
Going back to the stock market in Piazza Affari, the session was brilliant for Enel, also following rumors about Spanish policies which favored the rise of Spanish utilities and its subsidiary Endesa.
Bene Exor +1,39% with Ferrari +1,12%, but stellantis loses 0,67%.
In the high rankings some oil stocks such as Saipem +1,34% and Tenaris + 1,26%.
They also shine in the oil sector Saras (+5,14%) thanks to the optimism on the trend of refining margins e Maire Tecnimont(+1,99%) in view of the results at the beginning of November. Today Equita confirms "hold" pending an improvement in Ebitda and debt in the quarter.
Many financial stocks are down: Banca Mediolanum (-1,82%) is again the worst, after yesterday's crash following the coupon. Letter about Intesa Sanpaolo, -1,63%, Bper -0,68% Unicredit -0,6%. They go down Telecom -1,2% and Post -1,09%.
