The answer will not arrive before 18.30 pm Italian time, with the usual press release which will take stock of the state of health of the US economy. Only then will it be known whether the Federal Committee of the US central bank has decided whether to activate new unconventional monetary policy measures. According to some analysts, the Fed could extend the "Operation Twist" program in which it sells short-term securities to buy long-term ones. One of the objectives is to lower the level of long-term rates, a reference point for the cost of money, for example for real estate mortgages.
Meanwhile, the American Stock Exchange scores a good rise: Dow Jones index + 0,8%, S&P500 + 0,9%, the Nasdaq grows by 1%. It gets noticed Microsoft which gains 3,5% after presenting its tablet, Surface, with which it aims to compete with the iPad of Apple Lossless Audio CODEC (ALAC), + 0,1%.
Meanwhile, the European stock exchanges, especially the peripheral ones, experienced a day of robust redemptions after Monday's beating. Milan was the best with the Ftse Mib +3,35%, Madrid +2,5%.
The outcome of the morning's Spanish auction helped to give the markets a breather, which saw the entire filled offer accepted, albeit at steeply rising rates. With a super-euro capable of returning to its highest level for almost a month by re-hooking the 1,27 dollar area, the European stock exchanges have progressively lengthened expectations of an intervention tomorrow by both the Fed and the Bank of England to inject new liquidity into the financial system. Milan was the best with the Ftse Mib +3,35%, Madrid +2,5%. London gained 1,7%, Paris +1,6%, Frankfurt +1,8%.
The sharp rise in Mediterranean stock exchanges was accompanied by an improvement in government bonds. The yield on ten-year BTPs fell to 5,88% from 6,06% this morning, the spread with the Bund is at 435 points, 29 basis points less than yesterday. The yield on Spain's 6,95-year Bono fell to 7,06%, from XNUMX% this morning.
In Milan, almost all the blue chips closed sharply higher. Among the banks Unicredit gained 4,6%, Understanding + 4,7% Banco Popular + 4,1% Ubi + 4,7%. Mediobanca gained 3,2%. The Generali they gained 5,6%. Exploits for Telecom Italy (+7,9%) thanks to the market's hopes for an acceleration of the negotiations for the unbundling of the network with Metroweb and Cdp. In the energy sector, a leap of A2a (+5.8%) and of Enel Green Power (+5,6%) which started up the activity of four new photovoltaic plants in Greece.
Oil up to 84,2 dollars for the Wti (83,27). Positive oil stocks: Eni gained 2,4%, Saipem + 1,7% Tenaris it rose 5,6% driven by Exane which raised its recommendation to outperform from neutral.
Among the industrialists, StM marked an increase of 3,7%, Fiat Industrial + 3,5% Fiat + 2,9%. Rest it closed up 3,6% following the news that Dusseldorf airport awarded the management of duty free activities to a subsidiary of the group.
