Wall Street stocks came out of the starting blocks with a searing spurt: Dow Jones + 1,82% S & P500 + 2,01% Nasdaq +1,92%, contributing to a final also on the rise in Piazza Affari: +1,24%, the Ftse/Mib index at 15.645. The first trading day of 2012 for Wall Street was blessed with new positive macro data. The Ism manufacturing activity index rose to 53,9 points, against 52,7 of the previous month. The 50-point threshold indicates whether the economy is growing or in a recession. It's about the highest growth of the index in the last six months. Construction spending jumped 1,2% in November, well above the 0,4% expected and a sharp improvement from the previous month's revised figure (-0,2%).
The 502-year Btp/Bund spread rises to 501bps, from 6,92bps yesterday for a yield of the Btp at 10%. French 4,8-year bonds see the yield rise by 3,258 basis points to 2%. Short-term Italian bond yields continue to fall, normalizing the curve. The three-month bond now yields 6%: yields jumped to XNUMX% in December.
Market pressure shifts partly to Paris (+0,72%) and Madrid (+0,10%). The shadow of the downward revision of the triple A by the rating agencies weighs on the forthcoming French auctions, while in Spain the Finance Minister Luis de Guindos said that the public deficit could exceed 8% of GDP in 2011 compared to target set at 6% by the previous Zapatero government.
THEeuro is recovering above 1,30 against the dollar, the exchange rate is fixed at 1,303 from 1,2934 yesterday evening.
The American Stock Exchange has given a bull march to the stock exchange, previously characterized by high volatility. The rise of Ps +3,95% (after +3,5% on Monday), in the wake of the advances of "La Stampa" on the industrial plan with sales and securitizations designed to avoid the capital increase imposed by the EBA. Unicredit -2,46% is down on the eve of the board meeting dedicated to the details of the capital increase. Understanding + 0,30% Banco Popolare +1,68%, Ubi + 2,55% bpm unchanged (+0,03%).
For the second consecutive day, the securities of the Ligresti galaxy drag the insurance sector upwards: Fondiaria Sai is up 11,46% , Premafin is suspended due to an excess of upside with a theoretical +25% after yesterday it closed at +42,8%. They also go up Generali +1,82% and Unipol + 2,99%.
Among industrialists, Pirelli marks an increase of 1,95%, while Finmeccanica + 2,03%. Fiat +3,67% and Fiat Industrial + 3,53 %. Enel -0,68% Eni + 1,99%.
It highlights the luxury sector thanks to Tod’s + 4,73% Salvatore Ferragamo +1,81% and Luxottica which rises by 1,47%.
The good US data push up the prices of raw material: gold +2% to 1.596 dollars an ounce, silver + 3,6% copper + 2,3% aluminum +1,4%. It also continues oil rush also due to fears of a possible interruption of crude oil supplies due to tensions with Iran.
