North Korea's missiles don't scare stock markets. After a declining start, European equity markets are already positive again by mid-morning. In Milan the index Ftse Mib advances by 0,4% around 22.600 points, marking the new highs of the year. In Paris, the Cac index rises by 0,48%, Frankfurt +0,31%. Weaker Madrid +0,13%. Zurich and London are also on positive ground +0,24%.
The Eurozone composite PMI, which tracks the performance of both services and manufacturing, stood at 56,7 points in September, above the 55,7 in August and the consensus (55,6). The private sector in Germany recorded the fastest growth rate in 6 6/XNUMX years and French business activity rose to a more than XNUMX-year high.
The Italian secondary is down together with the Bund still on the heels of the Fed, while Portugal, the best performer of the week, is starting to see some profit taking. The 2,110-year BTP trades at 0,124% (-165), spread fixed at XNUMX bp.
The markets' first reaction to Kim's threat was the gold rise at 1.297 dollars an ounce (+0,4%).
Dollar down against the euro which rises to 1,199, from 1,194 yesterday.
Oil is stable with Brent at 56,5 dollars a barrel (+0,1%). The market is waiting to see if the major oil producers, meeting in Vienna, will give their support to an extension of production cuts beyond next March.
Eni + 0,22% Saipem -1,04% Tenaris -0,33%.
In Piazza Affari the effect is once again being felt Fiat Chrysler +3,94% beyond the barrier of 15 euros. Over the last few days, the South Korean press has rekindled speculation about Hyundai's possible interest in FCA. According to the local press, Hyundai's offer may have arrived immediately after that of the Chinese.
From Monday it gains 7% and, barring last-minute unforeseen events, is on its way to completing the sixth positive week in a row. The gain since the beginning of the year well exceeds +70%. The negative news on the recall of 494.000 Ram heavy and medium pick-up trucks worldwide due to a water pump that could overheat and potentially cause a fire did not affect the stock performance in the slightest
Enter the Guinness Book of Records Unicredit savings +38,8% after the announcement of next title conversion in ordinary.
After a sluggish start, the basket of Italian bankers strengthened to gain just under 1%: Understanding + 0,88% Bpm bank + 0,36% B for Bank + 1,8 %
Corre Shipyards +3,76% on the prospects of an agreement between France and Italy on the future of the Stx France shipyards: there would no longer be a veto from Paris to the Italian majority in Stx, but the solution identified still provides for strengthened powers and guarantees in the board of directors and in the strategy for the French public shareholder. Banca Akros underlines that such an outcome would be 'very positive' for the Italian shipbuilding group.
Oppose the Luxury companies: Ferragamo + 0,57% Luxottica + 0,42% Yoox -1,37%.
Outside the main indices, it rises to a maximum of 3,62 euros Geox (+1,69%): today Kepler Cheuvreux raised its target price to 3,9 from 3,6 euros.
In rallies too Massimo Zanetti +6,67% which once again updated the highs from the beginning of 2016 to a whisker from 9 euros with volumes around 180.000 pieces, about six times the average.
