The European lists close in no particular order, but limit the contagion of Wall Street which travels in the red. Piazza Affari rises by 0,23%, 19.159 points, driven by Luxottica, +4,28%, which will move to the Paris Stock Exchange in the first quarter of 2019 following the merger with the French Essilor. Banks are down, with the exception of Mps, + 5,85%. The sector suffered from the collapse of Deutsche Bank (-3,48%) in Frankfurt (which closed flat), following searches by the German bank for investigations related to the so-called "Panama Papers". In the rest of the continent, Zurich is appreciated +1,17%; London, +0,48%; Paris +0,92%; colder Madrid -0,03%.
In New York, after yesterday's rally, triggered by a dovish Fed president, we are looking at the G20 in Argentina and the highly anticipated sideline meeting between the presidents of the United States and China, Donald Trump and Xi Jinping. At stake is the delicate issue of trade relations between the two countries. We are "very close to a trade deal with China" – says Trump – but “I don't know if we want it”. And again: "I'm open to making a deal, but frankly I like the deal we have now." With these sayings and contradictions, the markets are struggling to find the compass.
The euro-dollar exchange rate has barely moved, in the 1,138 area, after the latest fluctuations. The pound loses altitude against the single currency and the cross moves around 0,890. Commodities are well bought. Gold is nearing $1227 an ounce as oil recovers some of its recent losses. Brent $59,86, +1,3%. In Piazza Affari, the queen of the price list is Luxottica, in the wake of the closure of the Ops launched by EssilorLuxottica on the group.
“Essilux” (as Del Vecchio affectionately renamed it) reiterated, on the occasion of his first assembly, that the search for the new CEO will begin in the new year as planned, putting an end to all speculation. Ferrari gets back on track, crossing the finish line with a gain of 3,0,9%. Exor gallops with the prancing horse +2,09%.
Brilliant Prysmian, +3,9%, which touched yesterday the lowest since 2015. This morning, the company announced a non-binding memorandum of understanding with the Gcc Electrical Equipment Testing Laboratory (Gcc Lab), a testing laboratory for cable systems for the transmission and distribution of electricity in Dammam, Saudi Arabia.
Purchases reward Stm, +2,44%. At the bottom of the list are the financial securities: Finecobank -2,86%; Unipolsai -1,88%; Unicredit -1,18%; Understanding -1,05%; Bfor -0,98%.
The bond is positive: the spread cools down to 287.70 points (-1,37%) and the Italian 3,22-year yield drops to 4,250%. The primary is also doing well: the Treasury has assigned all the 5 billion euros of BTPs over 10 and 2 years with declining yields. The rate on the five-year bond, sold for 2,35 billion, fell to 2,58% from the previous 2,250%, while that on the 3,24-year BTP, sold for 3,36 billion, dropped to XNUMX% from XNUMX%. Prime Minister Giuseppe Conte guarantees that a high spread does not leave the government indifferent and that work is being done to lower it.
