The University of Michigan consumer confidence index puts the brakes on the markets after the good data on US GDP. But the European stock exchanges closed positive: Milan +0,36%, Paris +0,69%, London +0,03%, Frankfurt +0,44% Wall Street is struggling to find a direction to take the downward path: the Dow Jones -0,15% and the Nasdaq -0,19%. The Btp-bund spread is on the rise to 336 points from 328 at the opening. The euro-dollar exchange rate remains unchanged at 1,2935.
In the early afternoon, the better-than-expected data on US GDP for the third quarter (first estimate by the Department of Commerce) at 2% (against 1,8% expected), pushed the stock markets into positive territory. The lists had thus canceled the losses of the morning, in a session weighed down by Apple's accounts less brilliant than expected. The cut in the rating of Bnp Paribas (to A+ from AA) and the negative outlook of Crédit Agricole by S&P weighed on the banking sector.
But the University of Michigan consumer confidence index fell short of expectations to 82,6 from 83,1 in September against expectations at 83 points. And the price lists have pulled the brakes. In overseas light Expedia and Amazon after the accounts, weak around Apple parity.
New round of meetings next week. Next Tuesday Christine Lagarde will be in Berlin for a meeting between five major international economic organizations, including the IMF, OECD and Ilo and she will meet the chancellor Angela Merkel. But this is not a bilateral meeting, specified the German government spokesman, Steffen Seibert: ”The director of the International Monetary Fund – she said – she will be met as leader of one of the five international organizations. The chancellor will also meet leaders from the OECD, the International Trade Organization, the World Bank and the ILO,” she added. On Wednesday, however, the finance ministers of the Eurozone will meet by teleconference to discuss the next aid to Greece, after the negotiations between Athens and the Troika. Time is running out for a decision: Greek coffers will be empty by the end of November without the new 31,5 billion tranche of aid.
In Piazza Affari, Luxottica shines with +2,56% in the aftermath of the quarterly accounts higher than expected with double-digit growth in profit and turnover thanks to the recovery in North America and the recovery of the Mediterranean countries. Salvatore Ferragamo also did well + 1,80% Consob communications revealed that Oppenheimerfunds holds 2,177% of the share capital. Mediolanum +2,06%. Terna +1,39%. Fiat Industrial +1,26%.
On the Ftse Mib, Mediaset loses -3,11% after the news, which went around the world, of Silvio Berlusconi's four-year sentence for tax fraud in the trial on alleged irregularities in the buying and selling of TV rights by the Mediaset group. Lottomatica down -2,65% after Crédit Suisse excluded it from the list of preferred stocks and Stm -1,65% on Deutsche Bank's cut in fourth quarter and 2012 estimates. Exor -1,36%. Bpm -2,13% among the worst of the Ftse Mib but the sector regained share in the afternoon: Mps -0,13%, Unicredit -0,68%. Understanding +0,39%
