Weak session for European price lists, which stem losses in the finale, but without finding great positive cues on Wall Street, which is also moving slightly upwards.
Milan loses 0,86% and stops at 23.578 points, in a day of letter for the banks at the continental level. Profit-taking in the sector weighs heavily on Piazza Affari, where only Bper +0,67% is bucking the trend. The worst stock is Prysmian, -7,16%, following yesterday's quarterly report and 2019 forecasts. Ferragamo shines, +4,03%, which closes with a gain of 3,37%, in the wake of better-than-expected accounts and despite the situation in Hong Kong weighing on luxury and ballast all markets. Sales are also back on the Italian secondary market, with the 1,23-year yield rising to 163% and the spread with the Bund at XNUMX basis points.
Red, with various nuances, is therefore the dominant colour. The worst place is Madrid -1,17%, grappling with an attempt at a new left-wing government after three years of chaos and four general elections. More contained losses in Frankfurt -0,4%; Paris -0,21%; London -0,17%. Wall Street after a declining start is moving above parity. Yesterday investor enthusiasm was dampened by Donald Trump who, in his awaited speech to the Economic Club of New York, did not provide details on the state of the US-China trade negotiations and did not postpone the duties on the import of cars from 'Europe.
Today we are listening to Jerome Powell, in a hearing at the joint economic commission of the US Congress. The Federal Reserve – argues the president – expects to keep interest rates at their current level (between 1,50% and 1,75%) for the near future, even if it could act in the event of a 'substantial' change in the outlook for the economy. A sustained expansion is currently expected.
Alphabet (+0,2%) is slightly positive against the indiscretion of the WSJ according to which Google would also be ready to become a bank, offering checking accounts to customers starting next year. Nike (+1,1%) is in the money, after deciding to no longer sell its products on Amazon.com (-0,88%).
The euro-dollar is flat at 1,1003. Gold is recovering to $1465,45 an ounce. Oil also made progress, with Brent appreciating by 0,63% to 62,45 dollars a barrel. Among the major increases of the day of Piazza Affari we find Diasorin +2,9%; Amplifon +1,91%; Buzzi +1,37%. Hera, +0,05%, despite revenues fly high in the first nine months.
Bad Pirelli -3,04%; Saipem -2,37%; Unicredit -2,18%. The worst ten of the big caps Fiat Chrysler closes, -1,14%, disappointed by Trump's silence on tariffs on the European auto sector. Day with a minus sign for the Berlusconi galaxy, on the day of the balance sheets for the first nine months: Mediaset -1,7%; Mondadori -0,49%. On the other hand, Safilo +11,44% is in the wake of the results.
As far as government bond auctions are concerned, things went well, but yields are on the rise. The Treasury has assigned three-year BTPs (maturity 15/1/2023) for 2,5 billion, with a gross yield rising to 0,22% from 0,05%. Requests amounted to 3,828 billion. 7-year BTPs (maturity 15/1/2027) were also placed for 3,25 billion (4,168 billion requests) with a yield rising to 0,91% from 0,60%. Lastly, the Treasury assigned 1-year BTPs maturing 9/2049/898,9 for 1,559 million (2,29 billion requests) with a yield of 1% and 3-year BTPs maturing 2047/601,1/1,166 for 2,14 million ( XNUMX billion) with a yield of XNUMX%.
