Oil stocks put Piazza Affari back in motion, which turned positive in the afternoon to close up by 1,06%, returning beyond the psychological threshold of 20 thousand points (20.062). The descent of the spread at 299.40 points (after the increase in the morning) with the 3,54-year yield at XNUMX% and the timid recovery of the banks, with the exception of Bper -2%.
The change of mood also occurs on the other European stock exchanges thanks to the recovery of Wall Street and purchases of energy, mining and technology stocks. Frankfurt earn 0,25%; Paris +0,35%; Madrid +0,67%; London + 0,02%. Wall Street it is positive, after a weak opening following a rise in the ten-year Treasury yield above 3,25%, to the highest since 2011, then returning to the 3,22% area. Technology stocks climbed, even as fears of a slowdown in global growth are felt. It is recalled that the IMF has lowered its estimates for 2018 and 2019, stating that the US and China will feel the impact of the trade war especially next year.
THEeuro it moved little against the dollar, in the 1,147 area. The Petroleum bubbling, Brent +0,9%, 84,29 dollars a barrel; Wti +0,65%; $73,91, buoyed by the fire at Canada's Saint-Jean refinery and fears about the possible impact of Hurricane Michael on Mexico and the United States. Gold remains at the window in the area of 1190 dollars an ounce.
Piazza Affari is experiencing a day of respite, after the tensions of recent days. This evening there should be a new summit on the maneuver at Palazzo Chigi. Meanwhile, Economy Minister Giovanni Tria says that thereand government measures point to growth and the decline in debt and accepts the invitation of the Speaker of the Chamber Roberto Fico to lower the tone with regard to Brussels, guaranteeing that the government will do "what is necessary in the event of a financial crisis". Even if he doesn't specify what he will do. Prime Minister Giuseppe Conte is confident that once "our maneuver is known, there will be greater tranquility on the part of investors". At the moment the Monetary Fund, Bank of Italy, Istat and the Court of Auditors are not at all calm, both because the growth forecasts in 2019 seem rather optimistic and because the pension reforms made so far were improving the system. In particular, the IMF sees Italy bringing up the rear in Euroland and estimates GDP growth of 1,2% in 2018 and 1% in 2019.
Finally, after Credit Swiss, JP Morgan also raises an alarm on the spread and the effects this has on Italian banks and in the light of the 2,4% deficit/GDP target, lowers the profit forecasts for credit institutions, cutting their target price .
Despite all this, the session rose above all for the large Italian banks, Understanding +2,19% and Unicredit +1,2%. The main list is led by oil stocks: Tenaris +3,35%; Saipem, +3,33%; Eni +2,63%. The latter two also benefit from Kepler's positive recommendation. Good fashion with Salvatore Ferragamo +2,57%. It stands out among the utilities Snam + 2,245%.
At the bottom of the Bper price list. Pardon Atlantia -1,36% and Prysmian -1,09%. Asset management yields with Azimuth -1,02% and General Bank -0,95%.
Out of the main list it rears up Astaldi, +21,52; regains altitude theBologna Marconi Airport, + 5,98%.
