BUSINESS PLACE BOUNCES TOWING UTILITIES
EUROPE AT THE HIGHEST FOR 18 MONTHS. FED SUMMIT AT THE START
Le European stock exchanges closed with a flourish, driven by Wall Street, this morning's Spanish auction and the unexpected rebound of the German Zew index.
Piazza Affari is no exception: the FtseMib index marks +1,53% at 15.588, ahead of London +0,11%, Paris +0,9%, Frankfurt +0,75%. But the overall index of the European Stock Exchanges is on the rise for the sixth consecutive day, reaching the highest levels of the last 18 months.
In this context, Piazza Affari also recovers after yesterday's sharp decline caused by Italian political turmoil. The Ftse Mib index rises by 0,9%.
The euro strengthens against the dollar to 1,298 from 1,294 last night. The single currency also appreciated against the Swiss franc to 1,2106 from 1,2080 on news that UBS will ask customers to pay to hold deposits in Swiss currency.
Lo Bund Btp spread narrows 11 basis points to 339 basis points.
In the meantime, on Wall Street the indices have canceled the post-election losses: S&P500 climbs 0,97%, in sixth consecutive session of gains. Nasdaq index +1,52%, Dow Jones index +0,83%.
Today begins the meeting of the Federal Reserve body which takes its position on monetary policy, the results of the meeting of the Federal Open Market Committee will be released tomorrow at 18.30 pm: the forecast is that the Central Bank of the United States will bring the monthly amount to be allocated to the repurchase of securities to 45 billion dollars of state.
to 14.30 the Commerce Department reported that the trade imbalance, in October, widened to -$42,7 billion from -$40,3 billion in September.
The best upturn, at the sector level in Europe, is for companies utility (EuroStoxx index +1,4%). Within the basket, France's Suez Environnement is running 7% higher after its first shareholder, Gaz de France, said it would not reduce its 34% stake.
In Italy Enel rises by 2,49%. Snam Rete Gas by 2.04%, Terna +2,88%, A2A +3,16%, Enel Green Power +2,12%.
Banks are on the rise but they are not the sector leading the recovery of Piazza Affari. Unicredit gains 1,68%, Intesa +1,43%, Monte Paschi +3,36%, Mediobanca +1,64%.
In the insurance segment, General sup by 2,38% while Unipol fell by 6% due to the effect of the indiscretions on a Consob investigation concerning losses generated by derivatives and not reported in the financial statements. Fondiaria-Sai drops by 0,1%.
It stands out among the blue chips Rest , up 4,96% after winning all three tenders for the allocation of commercial space in Spanish airports.
Lottomatica rises by 5,47% thanks to the promotion of Credit Suisse to outperform from neutral.
Among the industrial stocks, Impregilo salt by 2,26%. Today the group presented the business plan. In the meantime, yesterday the green light came from the Brazilian antitrust on the sale of 19% of Ecorodovias.
Fiat + 2,64% Finmeccanica + 1% Prysmian + 0,14%.
Eni salt by 0,62% and Saipem by 3,2%.
Telecom Italy gains 2,49% and Atlantia 1,74%.
