Looking forward to the Fed meeting European stock exchanges they closed negative after a morning sustained by some quarterly reports and by the rise in economic confidence in the EU above estimates.
Milan closes down by 0,47% with the spread rising to 250 points on political tensions. In the morning, however, the successful outcome of the Btp auctions had cooled the differential to 243 points. The Treasury sold all 3 billion of the five-year BTP maturing in December 2018 with the average yield falling below 3% for the first time since last April and growing demand, exceeding supply by 1,65 times from 1,43 previous. The Treasury also placed ten-year BTPs in March 2024 for 3 billion euros, the maximum pre-set amount with an average yield down to 4,11%, to its lowest since last April, from 4,50% recorded in September. Demand increased with a coverage ratio rising to 1,53 from the previous 1,38.
Paris (-0,09%), London (+0,04%), Frankfurt (-0,13%), Madrid (-0,86%).
The FOMC meeting is awaited in the US but the expectations are for details on the beginning of the tapering which according to many analysts will begin at the beginning of 2014. Meanwhile, the ADP survey indicated in October a growth in jobs of 130 units, lower than the 150 expected. Wall Street starts uncertain and at the end of Europe travels negative. The euro-dollar exchange rate is at 1,3767. WTI oil fell by 0,9% to 97,32 dollars a barrel.
Fiat crashes in Piazza Affari -2,23%. After an upward acceleration in the wake of Chrysler's quarterly results, the Lingotto reverses course weighed down by the quarterly accounts and the revision of the 2013 targets. Exor -2,57%. Gtech -3,4%, Azimuth -2,53%. Berlusconi's parliamentary defeats also sink Mediaset -2,86%.
Bucking Luxottica +2,22%, Eni +1,33% after the accounts for the first 9 months of the year, Wdf +1,19%, Ubi +0,59%, Autogrill +0,69%.
