Orphans of Wall Street, the European lists close cautiously positive and focus on politics, after the German vote, the Italian anguish and the risk of elections in London. Piazza Affari stops up by 0,61%, reaching 21.451 points, dragged down by Atlantia, +2,39%, on which purchases return in the perspective that Giuseppe Conte will decide on the motorway concessions.
The market remains confident in the 5 Star-Pd negotiation for the formation of the new government, although the unknown factor of the Rousseau platform vote expected for tomorrow still weighs on the future of the Giallorossi agreement. The climate of confidence heats up bonds and the spread with the German Bund drops to 167 points, -4,53%; the 0,97-year yield is in reverse at XNUMX%. The Italian paper remains rallying, although Confindustria speaks of a blocked country and third-quarter GDP is still flat.
Manufacturing activity also continued to contract in August for the eleventh consecutive month, albeit at a slightly slower pace than in July. Reuters writes at least that something is improving on the public accounts front and Italy should close 2019 with net debt at 1,9% of GDP instead of the 2,04% indicated last July, while the 2020 deficit is seen at 1,6% under current legislation.
The closing is timidly positive also for the other European lists: Frankfurt +0,15%; Paris +0,23%; Madrid +0,07%. The brightest place is London, +1,08%, which instead of prostrating itself seems to be taking nourishment from the internal political clash over Brexit, not at all worried by the possibility of new elections, given the radicalization of the discount between Prime Minister Boris Johnson who wants an exit from the EU even without an agreement by the scheduled date of 31 October and the opponents of this drift. The exporting companies of the City especially appreciate the weakness of the pound and the exchange rate with the euro is currently hovering around 0,909.
The single currency is still down against the dollar with the cross around 1,0966. The Argentine peso recovered ground on the greenback following the introduction of urgent exchange control measures.
Wall Street is not bringing any winds of change today, because it is closed for Labor Day. It also remains on standby on the tariff front, after the entry into force yesterday of the new US tariffs on an additional 110 billion of Chinese goods. Meanwhile, news has arrived from Beijing of an appeal presented to the WTO against Washington's actions.
The winds instead blow heavily on Florida with Hurricane Dorian, after the devastation in the Bahamas. Oil was affected, with Brent dropping 1,4% and falling to 58,4 dollars a barrel and WTI down 0,93% to 54,59 dollars a barrel. Gold remains with the engine always running and rises to 1534,90 dollars an ounce +0,35%.
In Piazza Affari, the blue chips that recorded the greatest gains, after Atlantia, are Diasorin +1,86%; Recorded +1,86%; Azimuth +1,62%; Leonardo +1,35%; Enel +1,3%.
The worst stocks are banks: Ubi -1,68%; Bench Bpm -0,74%. However, the sector is contrasted and Mps rises by 6,55%. Weakness for Stm -0,43%; Tenaris -0,54%; Pirelli -0,32%.
