The possibility of another Tltro auction unleashes the rally of the banks and brings Piazza Affari into orbit, in the last session of the week. The main list closes at 20.212 points, + 1,9%. Space Telecom +6,4%. The picture is similar in the rest of Europe, Frankfurt +1,87%, Paris +1,79%, Madrid +1,86%. London +0,6% lags behind. A series of better-than-expected quarterly results weighed positively, as did Wall Street's optimistic start on tariffs again, with the continuation of negotiations between the US and China next week in Washington. American stock markets reach a peak one hour after the opening, when President Donald Trump expresses himself very positively on the negotiations in Beijing and claims that an agreement has never been so close. A perspective that overshadows the risk of a legal battle over the funds for the wall, given that Trump even wants to proclaim a national emergency on the border between the United States and Mexico. The shutdown, on the other hand, will not take place, because the president is expected to sign the spending law today, avoiding the blockage which would otherwise start at midnight.
The euro-dollar remains in favor of the greenback, in the 1,126 area, while oil continues to grind gains. Brent +1,73%, $65,69 an ounce. Gold that exceeds 1316 dollars an ounce is always brilliant.
The Italian secondary recovers during the session: the 2,8-year yield stands at XNUMX% e the spread with the Bund moved to 269.50 basis points (+0,34%). The tricolor card loses a bit of polish compared to recent days, while Fitch, which will pronounce itself on the rating next Friday, forecasts GDP growth of 0,3% for Italy this year, significantly lower than previous estimates by December equal to +1,1%.
In Piazza Affari, the fact that the European central bank is evaluating whether to launch new auctions to provide low-priced liquidity to banks that next year will have to repay the funds obtained in previous auctions also contributes to the renewed climate of confidence in the afternoon. This was stated by the member of the executive council of the ECB Benoit Coeuré "It is possible, we are discussing it - argues Coueré - but we want to be sure that it serves a purpose". Speaking in New York the banker points out that “there may be room for another Tltro auction”.
The cocktail of good news brings Banco Bpm +6,94%, Unicredit +5,29%, Bper +4,63%, Ubi +5,02% to the top of the Ftse Mib. Among today's best stocks there are also Banca Generali, +4,66% and Telecom, which celebrates the decision of the CDP to increase its stake, while the Elliott fund plans to do the same in an anti-Vivendi key (main shareholder with the 23,9%). In the meantime, the French have devalued their stake in Tim by 1,1 billion. Only three are pale red blue chips: Moncler -0,87%, Terna -0,3%, Juventus -0,14%.
