The Covid alarm in Europe does not scare the stock exchanges, which close positively, even if below the session highs, in the wake of Wall Street and the partial American aid plan which hopefully will go through. Piazza Affari gains 0,76% and rises to 19.582 points, in line with Frankfurt +0,84%, Paris +0,61%, Madrid +1,19%, London +0,53%. Eurozone government bonds are doing well: the 0,76-year rate Italian reaches a new all-time low of +129%, even if the spread with the Bund of the same duration rises slightly to 0,93 basis points (+XNUMX%).
The euro-dollar moved little, in the 1,175 area from 1,176 yesterday. Gold and oil were flat, with Brent at 42,89 dollars a barrel (+2,14%). Markets therefore appeared bullish after Donald Trump tweeted his support for spending packages targeting small businesses, airlines and households. Yesterday the S&P 500 closed at the top for about a month and is still moving up by about half a percentage point today, but the Dow Jones wiped out gains after the news that Nancy Pelosi, speaker of the House, excludes targeted aid. They are not affecting much instead i data on US unemployment rather disappointing.
In the week ending October 3, there were 9 fewer new requests for subsidies, for a total of 840 against 825 expected. Meanwhile, the US president, ill with Covid, but on the mend, does not lose his enamel and piqued refuses the second electoral confrontation with his opponent Joe Biden on October 15, because it was organized in virtual form. "It's ridiculous - he says - so I won't waste my time". For the most powerful man in the world, the disease induced by the new coronavirus is like the flu, but... Europe does not seem to think the same wayindeed, it is very concerned about the constant growth of infections and the European Commission has signed a contract with the pharmaceutical company Gilead (+0,86% in New York) for the supply of 500 treatment cycles of Veklury, the commercial name of remdesivir.
And new restrictions are looming on the horizon, although, according to the IMF, there is no need to fear them. “Despite the short-term economic costs – reads Chapter 2 of the World Economic Outlook – the lockdowns can lead to a faster economic recovery. These medium-term gains can offset short-term costs, likely leading to overall positive effects on the economy. Today, in Italy there are 4458 more positives and there is a boom in cases in Campania: +757. Truly alarming figures, but which do not slow down the good performance of Piazza Affari, where Pirelli conquers the podium with a leap of 4,29%, thanks to the promotion of MainFirst analysts. Effervescent Mediobanca, 3,93%, enlivened by the news that Leonardo Del Vecchio's Delfin has brought its 10,162% stake from the previous 9,89% and still has room to go up to 20%.
Bene Generali (+2,03%) of which Piazzetta Cuccia is the first shareholder. In the banking sector, Unicredit stands out +2,42%. The ups and downs of oil stocks continue, trailing black gold. Today Saipem +3,25%, Tenaris +3,06% and Eni +2,3% are up. Sales penalize Diasorin -2,35%; Moncler -1,85%; Ferraris -1,4%; Inwit -0,75%. Atlantia remains weak, -0,69%, while the solution agreed with the government on the future of Aspi seems to be moving away.
The Minister of Infrastructure and Transport, Paola De Micheli, in a videoconference hearing in the Chamber announced in fact that "an hour ago a note from Autostrade per l'Italia arrived in which it informed us that it accepted the text of the agreement proposed by the public party, requesting only the elimination of the clause of article 10 relating to the condition of effectiveness of the conclusion of the corporate negotiation". In essence, the company is asking that the part which provides for the transfer of control to Cassa depositi e prestiti be removed. Among the minor titles, Rome revives, +0,7%, in free fall in recent days. Boom in purchases on Gambero Rosso, +19,78%. Saras Splash -7,69%.
