UNCERTAIN STOCK EXCHANGES WAITING FOR OBAMA (AND THE FED)
THE MEDIA SECTOR SHINES, BUT MEDIASET SUFFERS
It gets worse at the end Business Square, after a day in swing around parity. The Ftse/Mib index marks a drop of 0,52 to 15252 bps, still better than London -0,76%, Paris -0,72% and Frankfurt -0,74%.
La bank slowdown it practically neutralized the positive effect of medium and long-term Btp auctions. The Treasury has placed about 5 billion bonds with maturities between 2015, 2023 and 2029 with declining yields and lower than those traded on the secondary market.
In particular, 3,5 billion BTPs were placed on 15/07/2015 at 2,64% against 2,85% of the secondary, which is the lowest rate since October 2010.
Also placed 683 million Btp 1/08/2023 at 5,33%, lower than the secondary's 5,38%, and 816 million Btp 1/11/2029 at 4,81%, against the secondary's 4,92%.
Banks, however, scaled back Tuesday's jump. The accounts of MontePaschi -5,14% triggered the retreat. The other banks were weak: Unicredit -2,21%, Intesa -1,75%, Ubi -2,38%.
The macroeconomic data released in the United States did not shift the center of gravity of the session and Cisco's good quarter is not enough to revive Wall Street. The three main indices are well below par: Dow Jones -0,47%, S&P -0,59%, Nasdaq -0,27%. The reason for so much uncertainty and consequent volatility always lies in the fiscal cliff. Investors remain cautious, while the latest news report close negotiations between Democrats and Republicans to prevent the bomb from exploding.
At 20 the minutes of the last meeting of the FOMC, the body of the Federal Reserve that takes decisions on monetary policy, will be released. Yesterday the Vice President of the Fed, Janet Yellen, said she was in favor of the proposal to associate interest rates with some economic objectives. Tonight the President of the United States, Barack Obama will answer questions from journalists during a press conference, the first since June.
The underlying tone thus remains cautious after a series of weak sessions. On the macro front, retail sales fell 0,3% in October, slightly more than expected, penalized by the impact of the recent storm that devastated the northeastern United States.
But thanks to the quarterly, Abercrombie & Fitch jumped more than 28% on the back of a sharp increase in earnings and a year-end forecast that beat analysts' estimates.
The media sector shines in Europe: the Eurostoxx sector index is up 2% thanks to the push of Vivendi +5% after the Parisian conglomerate, also active in TV, presented good data for the quarter yesterday evening.
But in Italy Mediaset travels on an opposite route -2.9%, crippled both by the first accounts in the red and by the market prospects which remain heavy. In the finance sector, Mediolanum -1,65%, Generali -0,2% and Unipol -2% fell. While WTI-type oil trades at 86,3 dollars a barrel, up 1%, Eni loses 0,2% and Saipem 2,8%. Fiat is down 2,56%. The requests of the Uaw for the remaining shares of Chrysler weigh heavily. Pirelli loses 2,31%.
Enel rises by 2,18% the day after the presentation of the quarter's data. A2A stands out with an increase of 4.06%.
Among small cap, Banca Ifis climbs +4,4%, the bank presented the data for the quarter.
