Taurus galvanizes Wall Street, which marks new highs in the first hours of trading, while the European lists close mixed.
While awaiting the decisions of the Fed, which will end its monetary policy meeting tomorrow and, almost certainly, will announce a start of tapering, the markets are looking for a compass in the quarterly reports from which ample confirmations of the current expansion phase come. Pfizer, for example, archives a better quarter than estimates and sees 2021 in great shape, thanks to the anti-Covid vaccine and the title runs in New York.
Business Square consolidates the highs since September 2008 reached yesterday and registers a very slight decline (-0,06%) to 27.189 points, with banks in no particular order and stocks such as Ferrari in swing after quarterly. In the end, the Prancing Horse updates its record with an increase of 1,19% to 213,10 euros per share. In the third quarter of the year, the Maranello red company exceeded one billion euros in revenues for the first time in its history.
It's flat Amsterdam; they appreciate each other Frankfurt +0,92% and Paris +0,5%; they are negative Madrid -0,84% and London -0,21%.
A mixed landscape, in which the Bull continues to dominate the New York Stock Exchange and caress the squares of the Old Continent, while betting is on the decisions of the central banks and questions are raised about any references to a timing for a rate hike in the USA . Will inflation be stronger than bankers' prudence?
A sign of relaxation comes today from government bonds, whose yields are falling in the States and in Europe.
In particular, the XNUMX-year benchmark BTP takes a breather, under pressure these days, in the perspective that a tightening could come from Eurotower sooner than expected and despite the fact that the fundamentals of the Belpaese are solid and the macro data offer confirmation of the effervescent phase of the Italian economy.
Just look at the PMI manufacturing indices: in Italy the IHS Markit indicator rises to 61,1 points for the month of October from 59,7 in September (above 50 points indicates economic expansion). It is the sixteenth consecutive month of growth, the highest since June, a figure higher than estimates. As regards orders, in September the index rose to 61,7 from 58,9, expanding for the eleventh consecutive month.
In the rest of Euroland and above all in Germany and France, the supply problems are more felt and in the final reading the index falls to 58,3 in October, from the 'flash' estimate of 58,5 and down from 58,6 in September. It is the lowest figure for eight months.
Returning to the bond market: the Italian ten-year yield falls to 1,03% and lo spread with the Bund for the same duration falling back to 122,3 basis points (-8,73%), after rising yesterday to its highest level since November 2020.
Meanwhile, the pandemic purchases by the ECB are slowing down: during the last week they amounted to 8,29 billion euros, a sharp decrease compared to the 18,64 billion of the previous week. It should be remembered that, during the last conference of the ECB governing council, the president Christine Lagarde announced the conclusion of the program at the end of next March.
The dollar rises on the currency market, theeuro traded slightly lower around 1,157.
Among the raw materials fails to take off thegold, which lost about 0,2% to trade at 1789 dollars an ounce. The session is in the red for all metal futures and oil is also losing share: il Brent it yields 0,38% and is worth 84,38 dollars a barrel.
Queen of the Piazza Affari price list today is Recordati +2%, on which Barclays brought the target price to 52 euros from the previous 50 euros.
The banks are mixed: they are going up Bpm bank + 1,82% Bper + 1,81% Understanding +0,68.%; goes down Unicredit -0,79% after farewell to Siena. Ps it appreciates by 1,19% with the Ministry of the Economy aiming to negotiate with the European Commission a "sufficiently long period of time" to privatize the bank. “Adequate time is needed”, says the director general of the Treasury Alessandro Rivera in Parliament.
They also go up Prysmian +1,73% and stm +1,45%. Fine Terna +0,28% with Deutsche raising its target to 7,2 from 7 euros.
Forgiveness Finecobank -1,72%; Eni -1,62%; Moncler -1,56%. Telecom -1,22%, it hits a one-year low in the session following the cut of the target price to 0,44 euro from 0,47 by Jp Morgan.
nexi (-1,71%) plunges again and the rebound fails after a morning rally linked to press rumors about the possible sale of the merchant acquiring business of the Greek Eurobank. In the square for the purchase would be Nexi and the French rival Worldline.
Outside the main basket, the cosmetics company makes its debut with a bang Intercos (+ 16,8%).
