The intoning start of Wall Street (with Microsoft at record levels) brings a hint of good humor back to the European stock exchanges, which close in no particular order a limping session.
Business Square it appreciated by 0,15% to 29.541 basis points and would be the best if, on the main index, the down payment on the loan did not weigh (0,84%) dividend by eight blue chips.
Giving confidence to the price list is the surprise improvement in theoutlook on Italy gives part by Moody's which also confirmed its Baa3 rating on Friday evening. The agency's decision also strengthens the appeal of the Italian paper and facilitates the decline in the spread with the German ten-year bond, which closes today at 171 basis points (-3,01%). The BTP rate was indicated at 4,3% at the end.
In the rest of Europe Frankfurt gives up 0,1%, ballasted by collapse of Bayer (-18,44%), sold with both hands after the announcement of the stop to the late-stage testing of a new anticoagulant drug. It's cold too London, -0,11%, while recording fractional progress Madrid + 0,81% Paris + 0,18% Amsterdam + 0,12%.
Wall Street toned with record-breaking Microsoft
Overseas Wall Street inaugurates the new eighth in progress (DJ + 0,28% S & P 500 + 0,45% Nasdaq +0,77%), after three weeks of gains and in view of the Thanksgiving holiday on Thursday, in which the US stock market will remain closed, while it will only work half a day on Friday.
What gives a boost to the indices is Microsoft (+1,4%) which reaches new highs, after those already recorded in recent weeks. So much excitement comes from the tech giant's bets on artificial intelligence, with the announced arrival of Sam Altman in the company, co-founder and former number one of the OpenAI start-up, in which Microsoft itself has invested billions of dollars. With him there will also be Greg Brockman, his partner in the previous adventure. Nvidia (+0,82%) moves on the wings of artificial intelligence and will present its quarterly report tomorrow.
For now, no indication has come from the stock market Buenos Aires, closed for holidays, after victory of the right-wing ultraliberal Javier Milei in the presidential elections. The new point of reference for a country plagued by the economic crisis and inflation has promised to cut public spending, to rebuild a system that is heading for its sixth recession in ten years and to replace the Argentine currency, the peso, with the dollar American. To weigh the dollar bonds, the market welcomes the news: those expiring in 2041 rise by 1,9% to 30 cents and record the best intraday performance since January.
Weak dollar; tonic oil awaiting OPEC+
On the currency market the dollar is still losing ground and theeuro is chasing an exchange rate with the US currency of 1,1 without, however, being able, for now, to match it, after last week's economic data (in particular the slowdown in inflation) which strengthen the market's belief that next year the central banks they will start working on cutting rates, while they have now finished raising them. This despite the unaccommodating statements of the board bankers. Tomorrow the Fed will release the minutes of its November meeting, which will be analyzed for clues about the direction of interest rates. Black Friday sales will then provide an indicator of the state of US consumer spending.
Among the raw materials the Petroleum is still recovering after the massive losses of recent weeks and in view of the OPEC+ meeting on November 26th. The prices are being pushed by Reuters rumors that the cartel and their allies are ready to evaluate the possibility of new supply cuts.
The Brent future (January 2024) rises by 2,5% to 82,60 dollars per barrel; the same goes for Texas crude, with the same maturity, which is moving below 78 dollars a barrel.
Piazza Affari slowed down by Generali and coupons detached
In Business Square oil companies and banks are in the green, while Generali recorded the highest daily decline (-1,18%) still in the wake of the disappointing quarterly report and the reduction of the target price by some brokers.
In any case, the climate appears serene, also looking at the performance of the eight blue chips that discount the interim dividend: Banca Mediolanum + 1,43% Eni + 1,53% Understanding + 0,87% Mediobanca -0,32% Post + 0,36% Recordati + 0,02% Tenaris + 1,62% Terna + 0,78%.
The blue chip queen of the price list is Saipem +2,4%, followed by Amplifon + 2,36% stellantis + 2,3% Moncler + 2,34%.
Among the banks it stands out Bper +1,64%, while Leonardo, +1,81%, is confirmed in cash with the sale of a 6,9% stake in the US subsidiary Drs.
Bene Enel +1,33%, to new highs since March 2022, with Morgan Stanley improving its rating to 'equalweight' from 'underweight' last week, bringing the target price to 7 from 5,3 euros. On Wednesday, the electricity giant will present the group's multi-year industrial plan during the Capital Markets Day.
