Piazza Affari closed slightly down (-0,09%, 23.259 points), a session devoid of great ideas for all the European price lists, while Wall Street moves mixed, after a moderate upturn. The exception is London, which gains 1,2% with the pound in reverse, as the general election on 12 December approaches. Frankfurt climbs 0,2%; Paris +0,11%; more toned Madrid +0,47%. In Milan, the spotlights remained on Mediaset, +2,49% and on the search for an agreement with Vivendi (+0,36% in Paris). So far the agreement has not been reached, but the judge has allowed another week to seek a meeting point on the birth of MFE (MediaforEurope), the Dutch holding company that will group Mediaset TVs in Europe.
The Alfa Romeo convened an extraordinary meeting on January 10 for statutory changes to the Dutch holding, in an attempt to get the consent of Bolloré as well. According to Radiocor the "total" agreement is close and is based on the sale of 20% of Mediaset held by Simon Fiduciaria at a price per share of 2,77 euros plus the payment of a dividend. Vivendi would hold the remaining 9% stake in Mediaset. As far as disputes are concerned, the orientation would be to totally (or in any case largely) exclude the compensation linked to Dailymotion, the video platform of the Vivendi group already sentenced by the Court of Rome to pay 5.5 million for the illicit transmission of Mediaset and with other lawsuits pending against the Italian group.
Tesla retreats in New York, -6%, which ballasts the Nasdaq, after yesterday's presentation of Cybertruck, its first electric pickup. Global sentiment remains uncertain and largely tied to the trade deal between the United States and China. "The agreement is very close" Donald Trump told Fox News today, while the Hong Kong front remains incandescent and the US president guarantees that without his intervention the former British colony would have been annihilated in a few minutes. "We have to stay with Hong Kong but I'm also with President Xi," he says, hitting the hoop and the barrel. Investors are cautious and are also weighing the macroeconomic data.
The news is relatively good for Germany, where the final GDP of the third quarter is confirmed at +0,1% and the manufacturing PMI index in November, while remaining in the contraction area, rises to 43,8 from 42,1 in October , well beyond expectations (42,9); the services and composite SMEs were disappointing. For the entire Eurozone, the PMI manufacturing index rises to 46,6 from the previous 45,9 in November, above expectations, but services are holding back the growth of activity. The USA is far more brilliant, where the services sector rises to 51,5 points in November and the manufacturing PMI to 52,2, reaching the highest since April. Consumer confidence, as calculated by the University of Michigan, is better than estimates.
In this context, the euro is slightly smaller against the dollar and the cross is around 1,103. Gold is flat and bullion is currently trading at $1,465,05 an ounce. The oil is partially deflated, with Brent dropping almost 1% and falling to 63,36 dollars a barrel. Meanwhile, the spread between 154-year BTPs and Bunds is rekindling: 2,5 basis points (+1,18%), with the yield on the Italian bond slightly rose to 4%. Beyond the numbers, in Europe we are once again looking at the Italian political situation with some concern, awaiting the Eurogroup meeting on XNUMX December and clarifications on the reform of the bailout fund, after the agreement reached in the summer.
In any case, the bond fluctuates to a tolerable extent, also in the light of what Christine Lagarde, president of the ECB, said this morning, namely that the central bank will continue to support the economy and respond to future risks, in any case monitoring the effects of its own policy monetary. During the day, in Piazza Affari, you take the opportunity to go to some bank for collection, like Bper -2,4%, returning from a series of increases. Instead, Ubi +1,43% takes off. Banco Bpm also did well +0,97%. Fiat, -0,57%, fails to rebound. Contrary to Exor, +0,99%. Losses for Juventus -1,43%; A2a -1,24%; Recordati -1,27%; Hera -1,05%. Today's best blue chip is Diasorin, +3,21%. Tenaris also stands out +1,59%; Finecobank +1,41%; Stm +1,35%; Cnh +1,17%.
