La German political crisis he didn't clip the wings of Frankfurt, which closes today with a 1,74% progress, While the other squares are more cautious after the uncertainty of the eve, due to the Donald Trump's landslide victory in US elections. Overseas is moving again intoned Wall Street, fresh from yesterday's boom and a few hours from the Fed decisions (a 25 basis point cut seems obvious) and above all waiting for what Jerome Powell will say, after the powerful political news that are igniting new risks for inflation.
Europe Uncertain, Frankfurt Shines
Piazza Affari rises by 0,12% and some banks are smiling again on the price list, in particular Bpm bank (+8,97%), after the institute had closed its stock market yesterday evening announced a totalitarian takeover bid on Anima at a price of 6,2 euros per share. The asset management company's stock marks a gain of 11,13% and goes beyond the offer price to 6,39 euros per share.
He's queuing up Montepaschi, +4,64%, but the stocks of the big companies remain in deep red Understanding -2,95% and Unicredit -1,38%.
In the rest of Europe, progress is more convincing Paris, + 0,76%, Madrid + 0,64% Amsterdam + 0,36%.
Frankfurt was the best performer as investors focused on quarterly results and also cherished hopes that Berlin's sleeve would loosen after the sacking of its finance minister, which however paved the way for early elections.
London loses 0,33%, on the day when the BoE cuts borrowing costs 0,25%, while Governor Andrew Bailey thinks interest rates will continue to fall, but gradually. “We can’t cut rates too much or too quickly.”
In terms of central banks, today saw the 50 basis point cut by the Swedish central bank, while Norway's central bank kept its official interest rate unchanged at 4,50%, a 16-year high.
Dollar Realizations
Investors are approaching the upcoming Fed news by going to thedollar revenue, after yesterday's gains. The greenback loses ground against the major currencies. In particular, the euro appreciates by 0,77% to an exchange rate of 1,081.
Instead, the purchases on T-Bonds, with the 3,34-year retreating from the highs reached yesterday, the yield also moved above XNUMX%.
Among the raw materials gold immediately raises its head, with the immediate delivery bullion hovering around $2700 an ounce.
They seem Oil prices stable at the moment, paralyzed by conflicting pressures. WTI is trading at $71,64 a barrel, Brent at $74,95 a barrel.
Piazza Affari, Iveco queen of the price list
Iveco conquers today the major increase among blue chips, marking an increase of 10,73%. The stock had started in decline, despite the results appearing satisfactory thanks to a better-than-expected net profit, while the company promised to accelerate cost cutting next year. The numbers of the German rival may have contributed in some way Daimler trucks (+3,02%), despite falling profits.
They are confirmed in money Interpump + 5,42% Tenaris + 4,85% Leonardo +4,2(%.
Bene Azimuth, +5,42%, which aims to reach a profit target of between 2024 and 550 million euros in 600, according to Pietro Giuliani, president of the group.
stellantis it appreciates by 1,15% in Milan and by a similar amount in New York, after announcing that it will lay off 1100 workers at its Toledo, Ohio, plant to 'recover' competitiveness.
Meanwhile, the Minister of Economy Giancarlo Giorgetti he said that the Italian government has cut funding for the automotive sector to avoid spending public money on cars produced in China. “The funds for those who accept the reconversion are there and will be there, let's cut the funds for scrapping cars produced in China or other countries,” the minister stressed.
The list of the biggest drops on the Ftse Mib opens with Prysmian -3,77%. Utilities fall further, Snam -3,14% Terna -1,94% Enel -1,75%.
Spreads down
Secondary closes in green today, with the spread between BTPs and Bunds with a ten-year duration retreats to 130 basis points. But interest rates are rising: the Italian bond is closing at 3,74%, while the German one is at 2,45%. The surge was even greater after the exit of the German government of the Minister of Finance Christian Lindner. The German 2,48-year bond touched XNUMX%, exceeding the equivalent swap rate for the first time in history.
