For the first time the interest rate of Bot annual auction fell below zero settling at -0,30%. It happened in this morning's auction in which the Treasury filled up by placing bonds for six billion euros, the maximum amount offered. Tomorrow the auction for 3,7 and 30-year BTPs for a maximum of 5,5 billion euros is on the agenda. For the three-year BTP the market expects a return of around 0,15% while the 7-year BTP should remain at the levels recorded today on the secondary market (1,08%).
The spread BTP-Bund in the morning it was down 2,4% to 103 basis points. The stocks move higher despite the conflicting data from China that have affected the Asian stock exchanges. If retail sales in China rose by 11% in October, slightly better than expected, industrial production on the contrary slowed down, posting growth of 5,6% in October (+5,7% in September) and against the expectations of economists of +5,8%.
Il Ftse Mib climbs 0,59% pushed by the banks: Banco Popolare +5,28%, bpm +4,48%, both published higher-than-expected bills yesterday. The M&A hypotheses are also heating up the popular sector. Well too Soul +2,92%, Bper +1,83%. In the spotlight is Unicredit awaiting the results for the quarter but above all the update of the industrial plan also on the agenda for today. Mediaset instead falls -9,16%, with suspension due to excessive reductions, following the publication of the accounts receiving negative judgments from analysts. Among the worst of the Ftse Mib Yoox -2,66%, Ubi -1,87% is also an exception among the banks, Saipem -1,12%. Under pressure, off the mainstream, too Fincantieri which sells 4,5% after the third quarter accounts which were described as dramatic by Mediobanca analysts.
In Paris, where the Cac40 rises by 0,76%, le sales hit Vivendi which in the morning came to leave up to 10% due to the quarterly accounts in the red. Positive too the other main European squares: Frankfurt +1,12% and London +0,47%. Few macro data expected in the afternoon from the USA: at 14.30 pm the import price index for October and at 16 pm inventories and wholesale sales for September. Brent crude dropped 0,46% to 47,22 dollars a barrel. Oil Wti up 1,15% to 43,7 dollars a barrel. The euro-dollar exchange rate was little moved at 1,0716.
