The honeymoon of financial markets with Donald Trump's victory continues and infects today the European stock markets, which bounce after an eighth full of uncertainty, between fears of new tariffs from the US and the German political crisis.
Piazza Affari is the best and appreciates by 1,56%. Leonardo (+ 4,45%) It's still in money and closed at its highest since 2000, in the perspective of a growth in military spending, which brings optimism to the whole sector at European level. Furthermore, peace Russia-Ukraine does not seem to be around the corner and Kremlin Denies Donald Trump's Call to Vladimir Putin, aimed at getting Moscow to dampen the offensive.
A series of positive quarterly results also provide oxygen to Frankfurt + 1,28% Paris + 1,2% Zurich + 0,87% London + 0,76% Amsterdam + 0,47% Madrid + 0,33%.
In particular, the German manufacturer of car components Shelf shows a jump of 10,81% after reporting a third-quarter core profit that was above expectations. Stocks in the insurance, chemical and industrial sectors shine.
Wall Street, Hunt for Trump Trades, Like Bitcoin, Dollar Tesla
Across the Atlantic Wall Street moves in tune, while we witness a hunt for the so-called "Trump trades", that is, the elements on the market that will benefit from the tycoon's return to the White House. Among these, the bitcoin, which is moving to new all-time highs above $83.867.
On the currency market, the greenback is buying heavily and is racing against the major currencies, while theeuro, alarmed by the German government crisis, is down 0,75% at 1,0638.
New York Stocks Still Rallying Tesla, which is gaining almost 8%, after having returned above one thousand billion in capitalization in last Friday's session. Stocks linked to digital currencies are travelling strongly, while the Russell 2000 index Small-cap stocks rise 1,39%, their highest since last November. Small businesses should benefit strongly from the president-elect's proposed tax cuts and expectations of a more accommodating regulatory environment.
The benchmark index S & P 500 moves above 6000 basis points, a threshold briefly broken for the first time in the last session. There are no indications coming from the star-spangled bonds, because the market is closed today for a holiday.
Crude oil and gold prices collapse
The strength of the dollar is overwhelming raw materials and today it is also the world that is paying the price. They, which after many new highs is moving down by more than 2,5% in both the spot and futures versions. The immediate delivery ingot is currently trading at 2614,34 dollars per ounce (-2,59%).
Il Petroleum retreats after disappointing consumer prices in China on Saturday. These rose at the slowest pace in four months, while producer price deflation worsened, even as Beijing insists on stimulus to support the struggling economy. There are also fears that, under a Trump presidency, the US could increase oil and gas production, even though analysts consider it unlikely that the 2025 production forecast will change. In this context, Texas crude fell by 3,18%. 68,14 dollars a barrel, while Brent fell by 2,95% to 71,73 dollars a barrel.
New indications for black gold could also come this week from US macro data, including October consumer and producer prices.
Taking the pulse of inflation will also be useful to the Fed first, while a speech by the president of the central bank is expected this week Jerome Powell.
Piazza Affari, Leonardo and Azimut rally
It is highlighted in Piazza Affari Azimuth +4,1%, after the numbers presented in recent days. Furthermore, according to press leaks, the company is evaluating the purchase of some of Illimity's activities; an operation preparatory to the launch of Azimut's fintech bank. Illimity CEO Corrado Passera maintains, however, that between the two companies "There is a strong collaboration, but today there is nothing else on the table". In the sector, it is also strong Finecobank + 3,34 %
Leonardo, as mentioned, continues its run and also benefits from the increase in the target price by Mediobanca and Bernstein. Piazzetta Cuccia writes in the daily note that "the outcome of the elections in the US could have a significant impact on the EU Defense sector and in particular for Leonardo and this could translate into an acceleration of defense spending in Italy which is still significantly below the 2% target of NATO". Furthermore, there is confirmation of the United Kingdom's commitment to the Tempest program for the construction of the new generation fighter together with Italy and Japan within the Global combat air program (GACP)
Industry is doing well with Prysmian +3,38% In healthcare it shines Amplifon +3,53%, while among the banks, recovering, the strongest is Popular of Sondrio +3,07%. It also rebounds Unipol +2,68%, after the slide following the quarterly results.
Good ideas have also returned on utilities starting from Hera + 2,17%.
There are only three blue chips that are down. The first is Moncler, -1,19%, with the British press relaunching the hypothesis of an interest in Burberry (-3,33% in London), while the queen of down jackets once again denies this hypothesis. Always in luxury cucinelli loses 0,27%. The other slightly red blue chip is still Getting very -0,1%.
Among the minor titles, good Avio, +2,4%, thanks to better-than-estimated quarterly results, confirming the forecasts for the current year.
It is appreciated in publishing Rcs +1,25%, which showed a profit for the first nine months of 32,1 million, up 15,5% compared to the same period in 2023.
Spreads down
The session was also favorable for bonds: the spread between 10-year BTPs and Bunds of equal duration falls to 126 basis points. Yields also fall: the Italian title is indicated at 3,59% and the German one at 3,32%.
