Widespread sales on European lists after the US anti-default agreement arrived at the last minute. Profit-taking that comes after the stock exchanges of the Old Continent had returned to their highs since June 2008 in recent days, obviously discounting the arrival of the agreement between Republicans and Democrats. However, the downgrade on US debt to A- came from the Chinese agency Dagong.
After six consecutive sessions, Piazza Affari retraces by 0,39% while the Btp-bund spread closes at 233 points, Paris -0,10%, Frankfurt -0,38%, London on parity.
Wall Street moves mixed after a negative start. The Dow Jones fell 0,43% and the Nasdaq rose 0,18%. Overseas the quarterly season continues. Goldman climbs 0,4% after above-expected profits. Ebay drops by 3,6% after disappointing expectations on the outlook front despite the rising profit. On the macroeconomic front, the Philadelphia Fed index for October fell to 19,8 points but above expectations while claims for unemployment benefits in the United States last week fell by 15.000 units, to 358.000, which disappointed expectations by 330 requests. WTI oil down 1,34% to 101,12 dollars a barrel. The euro strengthens against the dollar to 1,3661 (+0,9%). Gold jumped 2,87% to $1.319 an ounce.
In Piazza Affari, the worst stock of the Ftse Mib is Fiat -2,28%, awaiting the data arriving on October 30, followed by Stm -1,77%, Azimut -1,30%, Cnh -1,04%, Bpm -0,97%. The banking sector moves in contrast, penalized by the confirmation of Moody's negative outlook on the sector in Italy. Intesa -0,49%, Bpm -0,97%, Ubi +1,30%, Unicredit +0,63%. According to a Mediobanca study, the revision of the tax treatment of bank credit losses, contained in the stability law, could lead to an average 7% increase in earnings per share of Italian banks in 2014. Bper and Creval will be the banks that will benefit more than the provision, with a potential increase of up to 20% of expected profits in 2014. For Unicredit, the expectation is a 5% improvement in profits, for Intesa Sanpaolo 6% and for Credem 3%. Meanwhile, Minister Saccomanni assured that Italian banks have nothing to fear from the review of the quality of assets that the ECB will carry out and from the stress tests of the EBA.
Autogrill +2,38%, which today announced two agreements worth 105 and 70 million pounds for the management of catering at Eurotunnel and East Midlands airport, bucked the trend, Ferragamo +2,20%, Ubi +1,30 %, A2A +1,02%, Unicredit +0,63%.
Telecom +0,49%, the stock is not heated too much by the move by the shareholder Findim who calls for a meeting to revoke Telco's directors. Meanwhile, the Senate has approved the motion that commits the government to amending the takeover bid law in relation to the Telefonica-Telecom case. The document calls on the Government to take action, also with a decree law, to strengthen Consob's control powers for ascertaining the existence of situations of de facto control and the introduction of a second takeover bid threshold (in addition to that of 30 %) linked to the ascertained de facto control situation. There were 208 yeses, none against, 44 abstentions.
