Third-quarter US GDP accelerated to 4,1%. This is the third and final estimate which revises the previous one upwards by 3,6%. The choice of the Fed to start the reduction of stimuli to the economy is thus also supported by these data, albeit in its mini version of ten billion a month, after a series of positive economic data that envisage an economy capable of sustaining itself even without the Fed's liquidity injections. Wall Street opened higher and strengthened the performance of European stock markets. Milan closes with an increase of 0,6%, Frankfurt of 0,69%, Paris of 0,40% and London of 0,33%. On the other hand, the Athens Stock Exchange closed down -2,74%.
The Btp-bund spread is up to 225 basis points, In Italy, Istta has not released positive data for the retail trade: in the first ten months the drop is 2,2% with decreases also for the food sector (- 1,3%). 2012 closed at -1,7% on the sales front. The bad news is that exports outside Europe are also down -5,1% compared to October and by 6,7% on an annual basis. Imports are also down (-3,9% in the economic situation and -12,3% in the trend). The trade balance with non-EU countries is confirmed as positive and improving in the year-on-year comparison, with a surplus in November of 2,4 billion.
The euro-dollar exchange rate is at 1,3678 (+0,12%), WTI oil is stable at 99,06 dollars a barrel, gold rebounds after yesterday's collapse and recovers by 0,76% at 1.202 dollars l 'ounce. BlackBerry flies to Wall Street +16% despite maxi quarterly losses of 4,4 billion dollars. We like the five-year strategic agreement with the Chinese Foxconn Technology Group (the same one that collaborates with Apple) for the joint development and production of smartphones for Indonesia and other rapidly growing markets.
In Piazza Affari the eyes are on the Telecom Italia shareholders' meeting +0,43%. At the top of the Ftse Mib Mps in the wake of the transaction with Deutsche Bank on the Santorini operation: +4,95% amidst strong trading. The other banks were also positive albeit at a distance: Bpm +1,95% on the eve of the clash for the top at the meeting, Intesa +1,83%, Unicredit +0,38%, Ubi Banca +0,54%. In red instead Banco Popolare -1,58%, Also highlighted is Wdf +4,56% which continues to benefit from the report with which Goldman Sachs started hedging the stock, including it in the conviction buy list. Cnh Industrial +4,43%, Diasorin +3,19% and Finmeccanica +2,84%.
