Business Squarei gains 2,23% and rises to 19.717 basis points, the best European index, following the green light to the budget law and the tax decree. Luxury purchases are back, while Prysmian +8,19% celebrates the overcoming of the technical problems of the Western Link, a submarine cable connection between Scotland and Wales created with Siemens.
Overall, the markets seem more optimistic, an attitude that is also reflected in the yield on government bonds and on the spread: the Italian 3,46-year bond falls to 300% and the differential with the Bund narrows below 296.60 to 2,56 points, -XNUMX%. The other squares of the Old Continent also stopped on the rise, toned up in the afternoon by the opening of Wall Street, pushed by the banks.
Frankfurt +1,4%; Paris +1,53%; Madrid +1,69%; Zurich +1,66%. More backward London, + 0,43%, still grappling with the unknown Brexit.
Wall Street she travels boldly, thanks to the recovery of technology and the good results of some companies, which overshadow the problems associated with the trade war and tensions with Riyadh. Morgan Stanley and Goldman Sachs shine, after announcing higher-than-expected accounts, while a better-than-expected quarter also encourages buying at UnitedHealth. BlackRock beats forecasts, but travels in the red, while Netflix numbers are expected tonight.
The change euro dollar it is little moved, in area 1,158. Raw materials were flat, with Brent-type oil at 80,3 dollars a barrel and gold consolidating around 1228 dollars an ounce.
The most brilliant session is that of Piazza Affari, despite the many uncertainties that still weigh on the future. The Parliamentary Budget Office announces that it has not validated the government's macroeconomic forecasts because the assessment of the positive impact of the maneuver on real growth is lower for all the panel forecasters, i.e. Upb itself, Cer, Prometeia, Ref. Furthermore during the night Brussels received more details on the Italian programs with the Draft Budgetary Plan and Jean-Claude Juncker, president of the European Commission, guarantees that there will be no prejudices, but also that no exceptions can be made. “If we accepted everything the government proposes – he says – we would have some violent reactions in other eurozone countries”.
In Piazza Affari the banks stop in opposition, wary of a maneuver that seems to weigh heavily on them. Among the big names the best, even today, is Understanding +1,4%; between the mid caps it flies Carige, +9,43%; it still slips instead Ps -2,4%. Two bank stocks are the worst blue-chip: Bper -0,86% and Bpm bank -0,69%. Flat Saipem -0,04%.
Luxury takes off again, with Ferragamo +6,8% and Ferrari +6,62% (promoted by Bank of America to its Top List). Shop on Leonardo +4,9% and Brembo+3,8%. The utilities are well tuned: Enel +3,3%, entered into two contracts with a financial institution in order to increase its stake in Enel Americas, currently 5%, up to a maximum of 51,8%.
