The end of the beautiful stock market month of November fades slightly into red, like autumn leaves. European stock markets close down and Wall Street is also in negative territory, while the early stop is approaching (at 19 pm Italian time) in black friday day kicking off your Christmas shopping. We look with renewed concern at the commercial deal between the US and China, after the law in support of Hong Kong protestants signed by Donald Trump and we suffer with oil, which is sinking like hell. Brent loses 3,51% and trades at 61,05 dollars a barrel.
Business Square it worsens in the last phase precisely with Oil stocks and loses 0,36%, but does not give up 23 thousand points (23.259), reached in the middle of the month and never left again. The focus of the session was on mediaset, -1,33%, on the day of the conciliation attempt with Vivendi at the Court of Milan on the many open fronts, in particular Mfe, the holding company incorporated under Dutch law into which Mediaset aims to merge its Italian and Spanish activities, in addition to the participation of the 9,6% in the German Prosiebensat. However, the smoke was black and now the judge Elena Riva Crugnola has reserved the right to decide on Vivendi's request to suspend the resolution of the Alfa Romeo assembly on 4 September
On the Ftse Mib it is appreciated Recordati, +2,01% and nexi, +1,31%, conquers another record. Utilities such as Terna +1,11%. Well Amplifon +1,07%. The banks are weak, with the exception of Unicredit + 0,22%.
The worst performance is by Buzzi, -3,1%, penalized by the relegation of Morgan Stanley from "equalweight" to "underweight" with a target price dropped from 21 to 20 euros per share. The oil slump weighs on Saipem, -2,76%. Pardon Pirelli -2,17%; Finecobank -2,13% and they still go Juventus -1,5% and Atlantia -1,85%.
The bond closes in recovery with the spread between Italian and German ten-year bonds down to 158 basis points (-1,22%) and the BTP yield slightly down to +1,23%.
In the rest of Europe: Frankfurt -0,08%; Paris -0,13%. London lost 0,95, with consumer confidence at its lowest since 2013 and Scotland Yard which killed a man armed with knives who had attacked and wounded some people at London Bridge.
Euro modestly against the dollar at 1,102. Gold recovering to 1470,25 dollars an ounce, while oil, as mentioned, is going down. In addition to the US-China relations, the resignation of the Iraqi prime minister and the forecasts for the meeting of the OPEC group next week are also worrying. Traders believe Adel Abdul Mahdi's resignation should end weeks of protests and, by extension, risks of disruption to oil production. As for the Vienna summit, an extension of the current output by 1,2 million barrels per day is expected.
Positive macro data for the euro area on inflation and unemployment. In particular, inflation in November rose by 1% on an annual basis, while unemployment fell to 7,5% in October, the lowest rate since July 2008 (in Italy it fell to 9,7% compared to 9,9% in September and 10,7% a year earlier). In Italy, Istat also released the data on GDP, confirmed up by 0,1% in the third quarter and by 0,3% year on year.
