Nervousness and uncertainty about the European stock exchanges which closed in contrast, with volatility also influenced by the current quarterly season.
Piazza Affari, worst in Europe, closed down by 1,45%, sunk by Telecom Italia -6,41%. The session was characterized by various suspensions in auctions of volatility for the stock and strong trading: 379 million shares traded, against a daily average of the last month of Piazza Affari of 210 million. The market sold on the assumptions of an upcoming capital increase or a change in dividend policy. In a note, the company distanced itself by indicating the hypotheses as "journalistic inferences": "Telecom Italy – he communicated – observes that today's press rumors about alleged capital increases, asset disposals, changes in the dividend policy represent journalistic inferences which, as such, the company is not in a position to comment on”. The next board meeting is scheduled for November 7, where the group's business plan will be on the agenda.
Down too Madrid -1% and Paris -0,08%. Instead, they recover London +0,12% and Frankfurt +0,06%, despite the morning release of an Ifo index, business confidence, surprisingly down in October for the first time in six months. The index scores 107,4 from 107,7, below the value of 108 expected by experts. In the morning, the Chinese stock exchanges were also down for the super yuan.
The spread goes up to 247 basis points now back above the Spanish one, which benefits from the exit from the recession in the third quarter.
Positive start for Wall Street, at the close of Europe the Dow Jones rose by 0,19% and the Nasdaq by 0,52%. The University of Michigan index dropped at the end of October to 73,2 points from 77,5 at the end of September, below the expectations of analysts who expected 75 points. Orders for durable goods did better than expected, growing by 3,7% in September compared to August, against forecasts by experts which stopped at +2,5%.
The change euro dollar is at 1,3794, with the greenback hitting a two-year low. Markets expect the Fed to postpone tapering for some time yet. WTI oil rose by 0,44% to 97,54 dollars a barrel.
In Piazza Affari, the heavy too banking sector, following the rise in the spread, with Banco Popolare losing 3,88% and Ubi 3,64%. Unicredit -2,12%, Intesa -1,10%. Fonsai -1,88%. The shareholders' meeting gave the green light to the merger with the Unipol group (-0,78%). 96,60% of the share capital present voted in favour, equal to 62,46% of the total share capital. The only stocks up were Atlantia +0,55%, Eni +0,39%, Finmeccanica +0,27%.
