The Italian economy stagnated in the third quarter and the confidence that has just been regained on the markets leaves room for new doubts. Business Square loses 0,22%. enough to drop below 19, to 18.998 points; heavy Fiat after the accounts, -3,22%. And it is spread it soars: 311.50 basis points (+8,20%), with the yield on the 10-year BTP at 3,49%. The weakness of the Italian card intensifies in the finale, but already part of the Istat data on growth, stagnant in the third quarter from the previous quarter after three years of expansion. A dynamic that complicates the government's plans, grappling with a 2019 maneuver rejected by the EU Commission. 2018 could end with a GDP of around +1%, lower than the target of +1,2% indicated by Conte. Medium and long-term yields also skyrocketed in the month-end placement. Demand was good, but yields on ten-year and five-year bonds rose to 3,36% (highest since February 2014) and 2,58% (highest since December 2013) respectively.
In no particular order are the other European price lists. Pardon Frankfurt -0,42% Paris -0,22% Madrid -0,17%, also following the disappointing growth of the GDP in the euro area, +0,2% against +0,4% expected (+1,7% the annual change). For the same reason, the single currency, already burdened by the weight of the many ongoing tensions, remains weak against the dollar, with the exchange rate around 1,136.
Moderately positive London +0,13%; sharply up Zurich + 1,08%.
Wall Street it rose in the American morning, after yesterday's losses, supported by some quarterly earnings and by the rebound of the technology sector pending Facebook's accounts with closed markets. The trade war looms like a cloud full of hail, but some see a brightening in the words of Donald Trump, determined to sign "a big deal with China", although ready to implement other tariffs.
They are declining raw material. Among metals, gold falls to the area of 1225 dollars an ounce, while oil, such as Brent, loses 1,62% and falls to 76,09 dollars a barrel.
In Piazza Affari the worst blue chip today is fca (-3,22%), who experiences a session on the roller coaster afterwards quarterly data and despite the payment of an extraordinary dividend of 2 billion euros following the sale of Magneti Marelli.
Well instead Recorded, +2,08%, which shows growing profits and revenues in the quarter.
Purchases support Telecom, +2,02%, while the sale of Persidera is being discussed in the board of directors. Queen of the price list is pirelli, +2,96%; Well Mediaset +1,44%. Fight the banks; purchases pour up Bpm bank + 1,66%.
Sales penalize Leonardo, -1,51%, for the second consecutive day, following the accident involving an Agusta Westland AW169 helicopter on Saturday evening after take-off from King Power Stadium. There is also press indiscretion that the company is on the verge of joining the newco to relaunch Alitalia.
Forgiveness A2a -1,94% Post -2,21% Tenaris -1,09%.
Outside the main basket, Saras asserts itself, +2%, after yesterday's nine-month results. Kepler Cheuvreux raises the stock recommendation to “buy” from “hold”.
