Le European stock exchanges closed today with little movement, after having attempted a rebound during the day, but without standing on solid foundations after the negative start of Wall Street. Government bonds remain high, especially in the United States.
Business Square shows a timid awakening and rises by 0,2% to 27.490 basis points dragged by Prysmian, 4,23%, rewarded by purchases for the presentation of the pstrategic plan at the Capital Market Day in Naples, with 2027 targets higher than analysts' estimates and with dividends expected to rise. Profits took up instead MMS -2,27% after the recent rally.
In the rest of Europe they stand out London +0,53% and Madrid +0,59%, they are more sad Amsterdam + 0,12% Paris +0,02% and Frankfurt -0,2%.
Among the raw materials the Petroleum it retreats further, after yesterday's collapse: the Brent future, December 2023, drops 1,36% and trades around 8,46 dollars a barrel. The price of the product has also been going down for a few sessions gas, which today loses almost 6% in Amsterdam, for a cost of 36,125 euros per MWh.
Wall Street down at the end of the morning
The weather is quite cold on Wall Street in the late morning (DJ -51% Nasdaq -0,83%) in the face of macro data which, unlike what happened yesterday, could offer support to the more aggressive bankers of the Federal Reserve. The weekly claims for benefits to unemployment in the United States, were lower than expected and at their lowest levels for the year, while the trade deficit fell by 9,9% in August, to its lowest level in almost 3 years. More indications in terms of monetary policy may come tomorrow from the September employment report.
T-Bonds thwarted awaiting jobs report; the dollar is weak
Today's picture is also lost on T Bonds, which show contrasting prices and fluctuating returns. The 4,71-year bond is currently down slightly at 16%, but not far from the XNUMX-year highs.
On the currency market the dollar it is weak against the main currencies. Also the euro it appreciates moderately against the US currency and changes around 1,053.
Piazza Affari, Telecom's crash on the day of the meeting between Vivendi and Tesoro
The black jersey among the blue chips goes today to Telecom Italy, -2,69%, on the day of the meeting in Rome between the top management of Vivendi and the Treasury on the issue of the sale of the telecommunications group's network. The meeting was requested by the French group, Tim's largest shareholder with around 24% of the capital, in view of October 15, the deadline by which the US fund KKR should present its proposal to take over Netco. The plan envisages that the Ministry of Economy will also become part of the network company to be formed with a share of up to 20% and with a total investment of around 2,5 billion. Also weighing on the stock is the cut from Deutsche Bank which revised its rating downwards to 'sell' from 'hold', with a target price reduced to 0,23 from 0,3 euros.
In the financial sector, together with Mount Paschi (-2,27%), is negative Finecobank -2%, after September data, with an overall net collection of 446,7 million euros, down from 648 million in August and 514,6 million in the same month last year.
Well instead Unicredit +1,35% and Bpm bank + 1,43%.
At the top of the main price list it is highlighted Saipem, +4,13%, celebrating a contract worth over $4 billion. The project aims to develop the resources of the Hail and Ghasha natural gas fields, located off the coast of Abu Dhabi, in the United Arab Emirates. In the oil sector it also shines Maire Tecnimont, +4,43%, for another 8,7 billion contract with the Emirates Adnoc for the onshore treatment plant of the Hail and Ghasha project with completion expected in 2028.
Stocks penalized in recent sessions such as Erg + 1,38%.
Wider spread, but lower rates
Yields on the secondary sector are falling, even if spread between ten-year BTPs and Bunds of the same duration it widens to 199 basis points. The Italian bond rate is indicated at closing at +4,87% (from 4,89% yesterday), while that of the German stock at +2,88% (from 4,94%).
This morning the Italian Economy Minister Giancarlo Giorgetti said he had met with the rating agencies "to demonstrate the credibility and solidity of the country".
Meanwhile the new Btp Value recorded another positive day, with requests close to 3 billion on the fourth day of placement (2,66 billion half an hour after closing), with an overall collection over the four days exceeding 15,5 billion euros.
