The slowdown in the Eurozone economy weighs on the Piazza Affari stock exchanges after having burned the initial gains, it turns negative after the communication of the third quarter GDP data below expectations. The Ftse Mib index is slightly below parity, equal to Frankfurt -0,13%. Paris -0,3%. Only Madrid +0,13% is on positive ground.
According to the preliminary data released by Istat, growth compared to the previous quarter was 0,2% against estimates of +0,3%. The growth compared to the same period a year ago is 0,9% against expectations of +1%. "Growth, as in the rest of the euro area, is driven by domestic demand, with a negative contribution instead from foreign trade", commented Paolo Mameli, Intesa economist, according to whom the target of +0,9 Year-end % of government now seems difficult to achieve
Attention is now focused on the verdict of Standard & Poor's which will update the rating on Italy in the evening, with the exchanges closed.
The US data on consumption trends (retail sales) for October will arrive this afternoon, expected to grow by 0,3%. Michigan.
The Swiss Syngenta +10% bucked the trend: China National Chemical is in talks to buy the largest agrochemical company in the world, but its initial offer of about 42 billion dollars has been rejected.
The dollar is trading at 1,075 against the euro, up slightly from 1,081 at last night's close.
After yesterday's sharp fall (-3,8%) oil is recovering this morning: Brent at 44,72 dollars a barrel (+1,5%).
In the limelight in Piazza Affari Enel +1,6%: the first nine months of 2015 closed with a group net ordinary income of 2,641 billion, up 42% compared to the same period last year. The targets for the whole of 2015 have been confirmed. The CEO Francesco Starace: has confirmed the financial targets for 2015. The board of directors gives the go-ahead to the spa for ultra-broadband open to all operators, an investment worth 3 billion.
Enel Green Power+1,7%; it closed the first nine months with a net profit down by 38% to 245 million euro and an ebitda of 1,47 billion (+11,6%). The company's press release reads that "in the context of the ever-increasing importance of renewable energy as a business with high growth potential, the respective boards of directors are examining a hypothesis for the corporate integration of Enel Green Power's activities within Enel SpA".
Salt too A2A +0,5%, which aims to acquire control of the small Como and Monza utility Acsm-Agam, of which it already controls 21%.
Slight recovery for oil: Eni + 0,1% Saipem + 0,6% Tenaris +0,7%..
Fiat Chrysler +1,3%: Alfredo Altavilla, head of activities in Europe, confirmed the launch of the Levante Maserati SUV for the first quarter of 2016.
In sharp decline instead Ferragamo -5,7%: the company announced that it will be difficult to meet the growth targets for 2015. Kepler Cheuvreux cuts the rating to Reduce from Hold, Mediobanca to Neutral from Outperform.
The company closed the first 9 months of 2015 with an Ebitda up 7% to 218 million on revenues of 1,021 billion, also up 7% at current exchange rates. At constant exchange rates, the growth in turnover is reduced to 1%.
It doesn't recover Unicredit -0,2%, after yesterday's -5,4%. Understanding -0,4% Mount Paschi + 0,5%.
Down too Telecom Italy -0,3%: Nogers Bank increased its stake to 2,7%.
