Driven along by Wall Street and some excellent quarterly results, European stock markets are throwing the horrible month of October behind them, recovering some of the accumulated losses in the last session. Frankfurt +1,42%; Paris +2,31% (L'Oreal +6,71% following the accounts); Madrid +1% (driven by Banco Santander +2,92%); London + 1,3%.
Business Square, +0,27%, 19.050 points, feeds only a morsel of this feast, held back by concerns relating to the maneuver and the economic slowdown which is highlighted in ever new statistical data. After zero GDP growth in the third quarter, today it emerges that the unemployment rate in September rose by 0,3 percentage points over August, reaching 10,1% against expectations of 9,9%. Risk appetite is holding back Bunds and rewarding Italian bonds: the 3,43-year yield falls to XNUMX%, while the spread with the Bund it stops at 304.90 basis points (-2,24%). However, the governor of Bank of Italy, Ignazio Visco warns: the rise in the spread between Italian and German government bonds reflects the risk of default and redenomination of public debt and its persistence may have serious consequences for banks, businesses and households.
It's still rallying Wall Street, after yesterday's earnings, driven by the accounts of Facebook and General Motors, while tomorrow Apple will announce the quarterly performance. The Nasdaq is currently up more than 2 percentage points. Jobs are doing well, with the ADP report, which precedes the government employment report released on Friday: 227 jobs were created in the private sector in September, the best figure since February.
THEeuro it remains weak against a dollar which remains at its 16-month high against the other major currencies. The change is in the 1,131 area.
Among the raw materialsgold it is declining, around 1215 dollars an ounce. Oil, on the other hand, is not affected by the data on US weekly inventories, worse than expected. Brent +0,14%, 76,06 dollars a barrel.
In Piazza Affari, among the best big caps today, there are some oil stocks such as Saipem +2,11%, Tenaris +2,98% ed Eni + 2,08%.
Blue chip queen is stm, +4%, which also shines on the Paris stock exchange, in the wake of the recovery of the Nasdaq and awaiting the results of the Apple client. In cash Buzzi +2,88%; Post +2,62%; Leonardo + 2,2 %
It is at the bottom of the main basket Recordati, -3,27%, after being stopped in the volatility auction in the afternoon. Profit-taking, expectations, the slight downward revision of 2018 revenue estimates and the weak signals provided by management on new acquisitions under study, perhaps led to the share's turnaround after an October in sharp contrast. Below fca, -2,2%. Sales are also impressive General Bank -1,96% ed Enel -1,21%.
Among the banks the worst is Understanding -1,96%; the sector loses momentum and eventually closes negative. The star of the Star continues to shine on the Star Milan Fair, +8,83%, after the accounts and after the analysts of Banca Imi have raised both the recommendation, to Buy from Hold, and the target price, to 4,30 euro from the previous 4,20. Stellar Reno DeMedici, +11,73%, which announces that it has finalized the agreement with the German private equity fund Quantum Capital Partners for the acquisition of 100% of Barcelona Cartonboard SAU, a company incorporated under Spanish law and the seventh European player in the coated cartonboard sector
