I extend and close in sharp rise for the Ftse Mib gaining 1,74%, best among the main European Stock Exchanges. In Italy today the Council of Ministers approved the Stability Law while Bank of Italy hoped that the CCB system will reform through aggregation into groups, defining the reform as "necessary and urgent". “The aggregation into groups could have positive effects for all cooperative credit banks, even for the more efficient and better managed ones”, said the head of Supervision of the Bank of Italy, Carmelo Barbagallo during a seminar in the Senate.
The Btp/bund spread is slightly up to 109 basis points. Paris +1,44%, London +1,10%, Frankfurt +1,5%. New negative news for Volkswagen which has announced that, starting from January 2016, it will recall 8,5 million vehicles in Europe involved in the scandal of rigged emissions after the ultimatum of the German authorities. Asia is also effervescent: Tokyo +1,15%, Hang Seng +2%, Shenzhen +2,37%.
In Europe, the boost to price lists came from the good closure of Asia and from the words of Ewald Nowotny, of the ECB's governing council: "We are clearly missing our goal of bringing long-term inflation back to around 2%" and for this reason additional tools are needed.
SUBSIDIES AT THE MINIMUM FOR 40 YEARS – FIRST DATA DEBUT
The eyes of the market are then on the Fed's next moves, in light of the Beige Book published yesterday and the conflicting data that arrived today on the US economy. In the United States, initial claims for unemployment benefits fell to their lowest since November 1973: in the week ending October 11, claims fell by 7 to 255, the same level reached in the week ending July 18 and the lowest since over forty years. The data is better than the expectations of analysts who expected 270 thousand units.
At the same time, consumer prices fell by 0,2% in September, reflecting the trend in energy prices, while the Empire index in October did worse than expected, falling to -11,36 points.
On Wall Street the Dow Jones up 0,41% and S&P500 up 0,33%. First Data, a company that handles billions of dollars a year in credit and debit card payments, made its debut today following a below-expected placement. With $2,6 billion raised, this is Wall Stree's largest listing of the year.
Il Wti oil drops 2,83% to 45,32 dollars per barrel. The euro-dollar slid 0,59% to 1,1406.
STM SHINES – SALES ON FERRAGAMO
In Piazza Affari it shines Stm +4,84% in the wake of the hypothesis that has spread on the market that Faichild Semiconductor has appointed Goldman Sachs to find a buyer. This would be a further consolidation of a sector that in 2015 has already seen four major operations.
Highlights too Exor +4,17%, Telecom Italia +3,86%, Banco Popolare +3,21% and Atlantia +3,11%. At the bottom of the Ftse Mib Ferragamo which pays for the drop in Burberry in London and the indications of Equita analysts who expect a flat turnover for the third quarter compared to +2% in the second quarter. Down however also the rest of the luxury with Moncler -2,11% and Tod's -0,44%.
