European stock markets balanced on a day full of macro data. In Milan the index Ftse Eb (+0,32%) is slightly up above 22.400 points thanks to oil stocks rally. Brent oil rose 1,8% to 57,3 dollars a barrel. Troop movements in Kurdistan are driving the price up. The autonomous government of Kurdistan (Kurdistan Region Security Council) reports that the Iraqi army is preparing to occupy the oil area of Kirkuk.
They are the ones to shine Eni 0,9% salt, Saipem + 0,7% Tenaris +1,58%. Paris and Madrid moved little, Frankfurt +0,09%. London fell by around 0,2%.
In August, public debt fell to 2.279,2 billion euros, 21,3 billion euros less than the previous month.
Inflation continues to lag behind. The Italian consumer price index recorded a variation of -0,3% on the month and +1,1% on the year. No surprises came from Germany either: an average annual increase of 1,8% and a monthly increase of 0,1% was confirmed for consumer prices. The US data will be announced in the early afternoon.
Yields on ten-year bonds are down. Bund at 0,42%, from 0,43% yesterday. Spanish bono 1,60%, from 1,62% yesterday. BTP at 2,08%, from 2,10% yesterday. The purchases of Portuguese bonds continue, the spread with the German bond drops to its lowest since the beginning of 2016 at 183 basis points.
Bloomberg writes that the ECB intends to halve QE from January, bringing it to 30 billion euros a month, to be left in force until September.
Brilliant performances for some blue chips from Piazza Affari: he immediately stands out Mediaset (+1,66%). UBS has raised its recommendation to Neutral, from a previous sell. Mondadori +3,87%. In France there is an air of mergers in the publishing sector which could involve Segrate.
Campari unchanged at 6,51 euros after hitting a new record this morning. Down Telecom Italy (-0,46)%. The ministerial proposal for the exercise of the Golden Power on Vivendi should arrive at the Council of Ministers today. In addition, it seems that the Democratic Party wants to include in the budget law the stop to the current billing system for telephone services, now based on a 28-day period. The return to 30 days indirectly translates into a downsizing of the income statement.
Sale Atlantia +0,44%: ACS's counter-offer on Abertis does not impress Banca IMI, but the risk is that the news will postpone the conclusion by a few months. The only thing missing from the Benetton group's offer is the OK from the Chilean antitrust.
The banking sector leaves about half a point on the ground. salt Bpm bank (+0,5%) pending the offers on Popolare Vita, Cattolica and Covea would have offered around 700 million euro for around 60% of Popolare Vita. Bper Bank -58%.
Stable Goods +1,32%, despite Goldman Sachs cutting the recommendation to Sell.
