L'inflation in the United States rises slightly in October (+0,2%), although remaining in line with expectations (2,6% on an annual basis against 2,4% in September) and leaves the markets uncertain about what the Fed in December. The nervousness is amplified by the fact that the policies of the newly elected president Donald Trump could further impact price dynamics next year.
Thus, European stock markets struggled to find a balance and closed mostly negative with the exception of Milan, while Wall Street, volatile at the start and now rising, is struggling between profit taking and some unknowns on the horizon.
Among these is the new government team, which could include Elon Musk and Vivek Ramaswamy for the new department of government efficiency.
A perspective that pleases the bitcoin which breaks the 90 thousand dollar barrier for the first time and is currently trading at 92.651,54 dollars. The greenback is slowing down a bit, even if theeuro gives up almost 0,5% for a change at 1,057. Gold and oil are little moved.
Uncertain Europe
Piazza Affari swerved shortly before the close, but in the end it is the only European market in positive territory with a growth of 0,3%. The banks contributed most of all to supporting the list, starting from Bper (+ 1,98%) and Ps (+ 1,85%).
Frankfurt recorded a 0,24% drop and showed a list almost entirely in the red, largely balanced by the jump in Siemens Energy, +18,1%, which raised its medium-term margin target and set a new record for orders.
He's going backwards today too Paris -0,14%, together with Amsterdam -0,26%. They are flat Madrid -0,06% and London + 0,06%.
In New York, the main indices are moving just short of parity. DJ rises by 0,4%, while the Nasdaq yields 0,06% and lo S & P 500 gains 0,19%. Among the stocks Tesla remains cold (-0,46%) in light of the fact that CEO Elon Musk has joined Trump's team.
Mattarella scolds Musk
In the meantime, to respond to the unusual post by the American entrepreneur against the Italian judges, the President of the Republic has been called upon today Sergio Mattarella, remembering that “Italy is a great democratic country and knows how to take care of itself, in compliance with its Constitution".
Raffaele Fitto's path to the vice-presidency of the European Commission is also becoming more complicated for Italy.
Piazza Affari, Stm's slump
The thud of the stock market is being felt today in Piazza Affari stm, which loses 4,38% in a weak tech sector at a continental level, together with the auto sector. In fact, they also lose share Pirelli -3,14% stellantis -0,46% Iveco -1,46%.
Among the major declines of the Ftse Mib there are also Diasorin -1,7% Campari -1,56% Hera -1,7%. The latter approved consolidated results of the quarter which saw revenues drop by 25,3% to 8,18 billion euros "mainly - as stated in a note - due to the decrease in energy commodity prices and the reduction of incentivized activities on energy saving services".
At the top of the list stands out Prysmian +2,57% and banks stand out.
Ps is also driven by Hsbc, which has started buying coverage on Siena, with a target price of 7,2 euros. Analysts have also raised their estimates on Bpm bank (-0,29%) as they believe that the “risk/return ratio is still interesting, also in light of the new indications on shareholder remuneration”.
In the sector they also stand out Unicredit +1,35% and Understanding +0,51%, while Mediobanca nibbles away a few positions (+0,8%) after yesterday's crash.
In luxury he raises his head Brunello Cucinelli +1,38% and insurance companies such as Unipol +1,43% and Generali + 1,23%.
Outside the main basket, fireworks were seen on Landi renzo +38,31%, after the details of the capital increase of 45 million with the launch of the offer expected on November 25. Below par are the Mfe A and B shares. Today the company increased its stake in ProSiebenSat.1, rising to just under 30%. Mfe was previously at 28,9% of capital and 29,9% of voting rights (therefore without the obligation of a takeover bid) and now goes to 29,99% of capital and 30,8% of voting rights.
Spreads down
The secondary market closes with a decrease of spread between BTPs and Bunds with a ten-year duration, at 124 basis points, even if the rate of the Italian bond is not far from the levels of the day before, at 3,62%.
