Turns off the surprise effect of the Fed which on Thursday pushed the European stock exchanges to a five-year high with the confirmation of the 85 billion monthly purchases, wrong-footing the expectations of the markets, which were expecting a moderate start to tapering. In anticipation of the German elections on Sunday, the European stock exchanges closed mixed around parity, weighed down also by the uncertainty for Bernanke's future moves. According to the governor of the St. Louis Fed, the Central Bank of the United States could start a small tapering in October. For some traders, the Fed's counter-attack is not positive because uncertainty and volatility are increasing in the coming months. Wall Street opens mixed and also pays for fears over the battle over the fiscal balance and does not help the sentiment of the European stock exchanges.
Milan closes down by 0,49% (+3% in the week) while the spread closes unchanged compared to the opening at 233 points (236 yesterday's closing). The GDP forecasts contained in the update note of the Def were released today: GDP will drop by 1,7% this year, but next year in 2014 it will rise by 1% and in 2015 by 1,7%, in 2016 by 1,8% and in 2017 by 1,9 percent. Paris +0,11, Frankfurt -0,23%, London -0,28%. Athens closes down sharply at -3,78%.
In Europe, eyes are on the federal lessons on Sunday 22 September to understand which majority will emerge from the polls and which European policy can be put in place after the vote. For some observers, it is becoming more and more difficult to register a change of positive march in the approach of Berlin to European integration. However, consumer confidence in Europe is improving, rising above the long-term average after more than two years. The euro dollar is stable at 1,3518, WTI oil drops 0,70% to 105,64 dollars a barrel, gold loses 2,3% to 1.337 dollars an ounce.
In Piazza Affari purchases on Ansaldo Sts +2,54% supported by the news of recent days on contacts with the American Ge Transportation and by renewed rumors on Hitachi Rail's interest in entering the capital. The parent company Finmeccanica, weighed down by the downgrade of moody's, first lost share and then recovered and closed in positive territory (+0,5%). Well Mediaset +1,73%, after Morgan Stanley raised the target price to 3,62 euro and confirmed the equal weight opinion, Azimut +1,73%, Pirelli +1,5% and Campari +1,33%. At the bottom of the Ftse Mib Telecom Italia -3,39% which loses share on the uncertainty for the outcome of the games on the upper floors of Telco in view of the deadline for the cancellation of the agreement in 8 days and the board of directors of 3 October. Down at the bottom of the Ftse Mib also Teneris -2,49%, Mediobanca -2,36%, Bper -1,8% and Unicredit -1,58%. Finally, it should be noted that B&C Speakers will arrive at the Star from 26 September after having obtained the go-ahead from Borsa Italiana yesterday.
