Wall Street travels at full speed on Columbus Day, buoyed by the winds of optimism about oil blowing from Istanbul, where Putin is open to a freeze or even a cut in oil production. Black gold thus records a surge of 3% and is close to 54 dollars a barrel.
The American rally pushes European stock markets furtherand, all in broadly positive territory, with Milan in pole position closing at +1,38%, thanks to the excellent performance of Popolari, in view of Saturday's shareholders' meetings for the green light for the merger between Popolare di Milano and Banco Popolare. But the good news, on this Monday, are more than one and all push the price lists upwards: the Italian industrial production in August it increased much more than expected, +1,7% compared to July, with a growth trend on an annual basis of 4,1%. Almost all the Ftse Mib stocks thus carry the plus sign ahead, starting with Azimut (+4,27%), which presents positive net inflows of 339 million euros in the month of September, 5,2 billion euros since the beginning year.
For Banco Popolare the closing is at +6,31%, Popolare di Milano +5,95%, Bper +3,58%. The energetics are doing well: Eni +2,33, Tanaris +2,15. On this euphoric day, Ferragamo lost ground, -1,46%, after Goldman Sachs lowered its rating on the company to "neutral" from the previous "buy", due to the slowdown in luxury as a whole. A2a (-0,74) and Luxottica (-0,72%) also fell. Outside the main Borsa Italiana index, we find Il Sole 24 Ore still falling (-4,71%) and Poligrafici Editoriale, with the greatest drop of the day (-4,95%).
Meanwhile in Europe the German engine is roaring again: exports in August reached 96,5 billion, +9,8% compared to a year ago, the largest jump since June 2015. On a monthly basis, the increase is 5,4%, a record that cannot be broken reached since May 2010. A decidedly better result than expected, which contributes to the good daily performance of Frankfurt (+1,27%), despite worries about Deutsche Bank, which has not yet found an agreement with the US Department of Justice to close the investigation opened on subprime mortgages in the United States. Furthermore, according to the Financial Times, the supervision of the ECB would have been soft with the German giant, allowing it to book an operation not yet concluded at the time of the stress tests.
The Athens stock exchange closes in excellent spirits, in view of the arrival of 2,8 billion from the suspended loan tranche. The European Commission believes that Greece has made "good progress" and that the work on the 15 key economic recovery and reform measures has been completed".
On a day already oriented towards good weather, Vladimir Putin decided to literally adding fuel to the fire: “Freezing and even reducing crude oil production is the only way to save the stability of the energy sector – said the president on the sidelines of the energy conference underway in Istanbul – Russia is ready to join global efforts to limit production and invites others to do the same”. Although Russia is not part of the Opec countries, these statements allow us to look more optimistically at the appointment of November 30 in Vienna, when the cartel will meet formally. Especially since the Saudi Energy Minister, Khalid Al-Falih, has defined a barrel at 60 dollars by the end of the year as "not unthinkable". Moral: oil soared by 3% to nearly 54 dollars a barrel.
Against this backdrop, the Dow Jones gained 142,45 points, or 0,8%, at 18.328,94 at mid-day. The S&P 500 added 14,41 points, or 0,67%, to 2.168,26. The Nasdaq rose 46,32 points, or 0,88%, to 5.5.338,72.
But not even oil can warm up Twitter. The share, since its 2013 listing, has fallen by 35% and today it has lost the last awaited white knight: after Google, Apple and Disney also Saleforce, a Californian cloud computing company which in recent days seemed to be in pole position for the operation of purchase, he said no thanks, after shareholders spoke out against making a bid for the popular microblogging site. The result is a new collapse of Twitter shares which, on Wall Street, yield just over 13%
At the end, the euro fell against the dollar: the single currency changed hands at 1,1162 dollars and 115,55 yen. The greenback also strengthened against the Japanese currency to 103,58 yen.
