"Congratulations USA" tweeted Donald Trump, after taking a look at the new stock market records. In fact, Wall Street opens with a bang, with the S&P 500 and Dow 30 exceeding their respective highs, supported by industrialists and technology and comforted by the prospect that, for now, the moves and countermoves on tariffs between the United States and China look more like skirmishes than real and own war. The American optimism infects the European lists which are further strengthened in the second part of the session. Frankfurt closes up 0,91%; Paris +1,07%; Madrid +1%. More cautious London, +0,46%, on the day of the Brexit summit.
Piazza Affari is also positive, but slightly further behind in the euro area, +0,51%, 21.388 points, worried by the OECD's warning: in 2018 growth should drop to 1,2% from the 1,4% expected and Italy should not "undo the good reforms made by the previous government". The uncertainty that weighs on the next maneuver and the numerous and contradictory utterances by members of the government contribute to making the spread dance. The movements are contained, thanks to the embankment of the minister Giovanni Tria, but the vice-permier Luigi Di Maio insists: "a serious government will find the resources, because otherwise it is better to go home".
And the Italian paper goes into the red: the 2,72-year yield rises to 223.70% and the differential with the same German term rises to 2,29 points, +XNUMX%.
This weighs on some banks on the stock exchange and the sector closes in contrast. Above all, Ubi -2,44% and Mediobanca -1,44% lose (the latter awaiting the accounts). Unicredit instead remains in the breach, +1,05%. Carige deserves a separate discussion, -4,55%, in a dive, once the games are over, on the day of reckoning at the meeting, in which the list of Malacalza Investimenti prevailed with 52,58% of the voters. The new chairman Pietro Modiano is confident that Malacalza will continue to support the bank.
Ferragamo was also down, -1,63%; Saipem -1,75%; Finecobank -1%. The best blue chips of the session are Stm, +3,51% which rises in line with US technology, after having reached its lowest level since the beginning of the year last week.
Good Fiat, +1,5. The utilities recover, Italgas +2,11%; Snam +2,1%. Atlantia is appreciated, +1,43%, which together with Acs and Hochtief will create next week, according to Reuters, the vehicle that will control the Spanish company Abertis, taking a further step towards the completion of the operation. Meanwhile, Prime Minister Giuseppe Conte confirms that Atlantia's subsidiary, Autostrade per l'Italia, will participate financially but will not be part of the consortium for the reconstruction of the Genoa bridge.
On the currency front, the euro rises against the dollar and the exchange rate is at 1,175. Among commodities, Brent-type oil lost 0,73% and fell to 77,96 dollars a barrel. Gold consolidates recent gains above $1203 an ounce.
