Piazza Affari puts the turbo on and closed up by 2,2%, driven by the rallies of Telecom Italia and Finmeccanica and by the banking sector. The Ftse Mib rises to 17.326 points, the highest since 2 August 2011.
The other European Stock Exchanges also consolidated their increases: Madrid +1,87%, London +0,74%, Paris +0,25% and Frankfurt +0,32%, which recovered leaving behind the disappointing data on industrial production which in November marked a monthly growth of 0,2%, lower than the +1% expected by economists. However, the economic institute Diw has reassured: despite the euro crisis, GDP should grow by 0,9% in 2013 and for next year a growth of more than 2% is possible with the demand for German products which will increase again . Germany today placed 5-year bonds for 4,08 billion with solid demand and higher rates (+0,53%) than the last auction on 10 October.
Ifo, Istat and Insee predict, in a joint analysis, that the GDP of the Eurozone will start growing again starting from the second quarter of this year, even if at a slow pace, with a recovery of +0,2%, driven by the acceleration of world demand due to greater dynamism in emerging markets and the recent agreement on the "fiscal cliff" in the United States. In Italy, however, taxes continue to suffocate the economy: Istat has communicated that the tax burden, in the first nine months of 2012, was equal to 41,3%, up from 39,8% in the same period of the last year. Not only. In the third quarter of 2012 alone, the tax burden was 42,6% (it was 40,6% in the same period of 2011).
The markets are now awaiting the decision on ECB interest rates in tomorrow's meeting and the Bank of England. The usual statistics on weekly requests for unemployment benefits and, according to Bloomberg reports, the appointment of Jack Lew as Treasury secretary are expected from the US. He stabilized the euro against the dollar at 1,3075 (-0,05%).
Today, thanks to the increases, was the data on weekly mortgage applications which showed a leap of more than 11% . Wall Street opened higher and at the close of the European stock exchanges the Dow Jones rose by 0,62% and the Nasdaq by 0,54%. Downturn Apple which, contrary to Jobbs' strategy of focusing on products with high margins, is reportedly planning a low-end iPhone. Facebook jumps by 3,88% after the invitation to the press for January 15th in view of news, therefore before the quarterly on January 30th.
While the price lists regain confidence US Treasury prices are falling with yields up 1,87 basis point to 0,19%. WTI trades down 92,97% to 25 dollars a barrel. The US Energy Information Administration expects US oil imports to fall to a 2014-year low in 6, on the back of booming production and only slowly growing demand, to 2014 million barrels per day in 1987, the lowest level since 12 and about half of the peak of 2004 million barrels per day in 2007-XNUMX. US oil production is soaring, and the International Energy Agency recently predicted that the US will overtake Saudi Arabia and Russia to become the world's largest producer within the decade.
In Piazza Affari the queen is Telecom which flies by 8,84%. The increases also affect the other main European TLCs after the Financial Times advanced the existence of discussions in Brussels between Telecom Italia, France Telecom, Telefonica, Deutsche Telekom of a pan-European fixed network among the former incumbents. Finmeccanica is up 6,34% thanks to the unexpected acceleration of the Ansaldo Energia dossier which seemed to be on standby until after the elections.
And it is also a rally for the banking sector favored by the spread which closes in the 279 points area. A UBS report that sees large-cap institutions rose despite worries about the economy and the election: the situation led to an average 2013% cut in 9 earnings estimates but the restructuring of the branch network and re-pricing of assets should produce improvements starting from the second half of the year. Bper +5,14%, Mps +4,88% which continues to be under the lens of investors (most traded stock on the Ftse Mib by volume) and Mediolanum +4,87%. Intesa +2,49% and Bpm +3,44%. Only Buzzi Unicem -0,56% is in the red on the Ftse Mib. Camfin leaps by 5,50% in anticipation of the next January 15 deadline to cancel the agreement between the shareholders which expires in April. Profits were taken on Gemina -1,01% after yesterday's leap on expectations of a pro-seismic takeover bid by Atlantia. Mediaset continues the recovery of the last month and today rises by 2,7%, today thanks to a report by Goldman Sachs, which, while maintaining the sell recommendation, has consistently raised the target price on the share from 0,9 at 1,3 euros.
