Le banks give pep today to Piazza Affari, which closes with a 1,03% progress at 33.829 basis points, in a European context variously tinged with green, while Wall Street moves mixed at midday. On the main Milanese price list it is also appreciated stellantis +1,6%, after yesterday's slide and following the resignation of CEO Carlo Tavares.
La French political crisis The eurozone is still holding its breath ahead of tomorrow's confidence vote, but markets have put their major concerns behind them today to focus instead on individual business cases and the cost of money ahead of the ECB and Fed meetings in December.
Il Cac 40 of Paris confirms its position as the tail light, with a rise of 0,26%, while the Dax of Frankfurt (+0,67%) breaks through the 20.000 basis point ceiling (20.041) for the first time in history.
In the block it stands out Madrid +1,19%, while it remains a little behind Amsterdam +0,26%. Outside the single currency area London gains 0,56%.
The morning in Europe was marked by optimism from the early hours, in the wake of yesterday's Wall Street records and the good performance of the Asian markets. In the afternoon, the news of the statement from martial law in South Korea, by the incumbent president, did not particularly shake the markets, although it cast another shadow on the already suffering geopolitical context.
However, some slowdown was recorded with the uncertain start of Wall Street.
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Wall Street mixed, with jobs data
La New York Stock Exchange is moving in a mixed bag at the moment: I am in slight DJ drop (-0,37%), S & P 500 (-0,12%), while the Nasdaq is flat (+0,08%), with investors focusing on a series of jobs data. Today was the day of US job openings, which rose moderately in October, as layoffs eased, indicating that the labor market is slowing in an orderly manner. The number of openings rose for the month to 7,744 million, which was higher than expected. Tomorrow sees the ADP report on private sector employment, while Friday sees the much-anticipated November jobs report, which will provide a set of information that could be useful to the Fed in two weeks, when it addresses the issue of rates. Analysts are now betting 72,5% on a 25 basis point cut.
In the stock market, among the individual star-spangled stocks, Tesla drops 2,32% after a US court again Rejected the compensation package of about 56 billion dollars for its founder AD, Elon Musk, due to irregularities in the approval process.
Super Micro Computers, -5,52% after the 28,68% jump the day before, following the news that an independent special commission said it had "found no evidence" against the tech company which is facing accusations of balance sheet manipulation.
Euro slightly recovering
On the foreign exchange market theEuro is slightly recovering against the dollar, for an exchange rate that however fails to move away from 1,05 also due to the French crisis.
Among raw materials oil is gaining, with Texas crude at $69,72 a barrel and Brent at $73,34, both up more than 2%. Giving a boost to black gold is the expectation of what OPEC+ will decide this week. According to Reuters sources, the cartel and its allies will probably choose to extend the latest round of production cuts until the end of the first quarter of 2025.
Piazza Affari, everyone crazy about Pop di Sondrio
Standing out on the main list of Piazza Affari today is the Popular of Sondrio, +7,03%, which in this whirlwind of actions, suppositions and possibilities regarding the banking risk, finds its moment as queen in this session. Helping the appeal of the stock were the reflections of Deutsche Bank, which in a substantial dossier on Italian banks, identified the Valtellina institute as one of the protagonists together with Bper (+0,38%), accomplice Unipol (+1,15%) reference shareholder of both institutions. The broker raised estimates on Pop di Sondrio's net profit for this year and brought the target price on the stock to 7,7 euros from 7,3 euros, confirming the "hold" rating.
The attention of German analysts then focused on Bpm bank (+1,42%) and on theUnicredit Ops (+1,89%). Deutsche Bank has raised its target price on the Piazza Meda stock to 8,6 euros from 7,2 euros and, awaiting a substantial increase in the offer by the bank led by Andrea Orcel. Also yesterday, Fitch confirmed Unicredit's rating at BBB+ with a positive outlook. The agency also placed Banco Bpm under observation for a possible increase.
In the wake he puts himself Understanding, +1,36%, while Ps, after recent increases, is losing 0,35% today.
Outside the banking perimeter, purchases have returned to stellantis e Iveco + 1,55%.
Oil stocks are doing well, among which the Saipem +2,83%. In industry they rise Prysmian +2,09% and Interpump + 1,54%.
The tail end of the price list is instead for nexi -3,79% Italgas -1,62% Azimuth -1,59% Getting very -0,98%.
Spreads down
The closure is also green on the secondary, where it spread between a 119-year BTP and a Bund of the same duration drops to 3,24 basis points, with yields of 2,05% and XNUMX% respectively.
Even the one who takes a breath French paper, which sees the spread with the German 85-year bond fall to 2,9 basis points, while the OAT rate is at XNUMX%.
