Handbags weak and uncertain in the Old Continent, with the price of the bond is still in decline. After a positive start, the indices started to move in random order, changing direction several times, with the technological advances, the tlc and the media, evidence, and titles, chemical and pharmaceutical industry under pressure. Continued in the meantime the ascent of the yields on bonds, driven by expectations of increase in inflation linked to the first measures that you expect from the new presidency of the Usa of Donald Trump. Remains also supported the travel of the dollar, while the oil after a start of the day he attempted to continue the rally on christmas eve, is regrouping in anticipation of data on stocks in the Usa.
Mps, funds in the maneuver on the bond of General studies the conversion
In Milan, weak banks, Mps in swing
After a positive start, therefore, the european indexes are moving in random order (follow the progress here of the Bags in real time). Also Milan has been some uncertainty in the start, but then the FTSE MIBha taken the path of upward and marks the best performance in Europe. Purchases are rewards for Fiat-Chrysler in the auto sector as the european, which is generally positive but which records increases, a more cautious (follow here the european sectors). A sharp rise in the securities, energy, oil and utilities as well also set the Unipol. The sales still affect Salvatore Ferragamo after the accounts have disappointed the expectations (yesterday the stock has lost over 6%, touching the lowest since July) and cutting target price by Goldman Sachs, which has, however, confirmed the rating of neutral. Weak banks, with Banco Popolare and Bpm in the queue to the list of penalized also by the opinion of Barclays, even bad Ubi Bancae Unicredit. In the swing Mps that has opened betwee n the worst and then change direction several times, after the collapse of the 10% of eve that has given the award, instead, the bonds are subordinate to it. Minus sign also for the General that may become a shareholder in the 7%-9% of the bank siena with the conversion of the bond. Out from the main board, to report the new debacle of the Trevi Findopo the quarterly, with the title that yesterday has left on the parterre and 18.9% of its value.
Bonds still under pressure, ten-year Italian back above 2%
Still on the rise in the yields on government securities, after the day of respite yesterday, with the spread between Italy and Germany back in the 175 basis points and the ten-year Italian dropped below 2%. The purchases of Italian securities were also supported by good data on the Gdp of the third quarter, exceeding expectations and better than the German one grew by 0.2% quarterly to 0.3% Italian. This morning, however, the yield has already exceeded the threshold of 2% (here, the yields of securities in europe) while the spread has opened at 171 basis points (follow the progress here on the differential, Italian and German). In the Usa, the rates of the market yesterday have temporarily declined, although this morning they are again going up. On the face of the Fed, the futures on the Fed Funds quote a rise in rates from the Fed in December with 94% probability.
Leap of 6% for the oil: the market regained confidence in the Opec
Realized on oil, it is still a super-dollar
the Reversal of the trend at the start of the day for the price of crude oil bounced back yesterday from the minimum of the last three months (follow here the trend of Brent and Wti). At the centre of investors ‘ attention to the possible agreement between the Countries Oper on production cuts expected for the 30th of November in Vienna. The Secretary of the cartel, Barkindo, will meet with various countries in the week, including in Russia over the weekend for an informal meeting. Today will also be data on weekly stocks and production in the Usa. On the macroeconomic front, always from the Usa, in addition to the interventions of various members of the Fed, including Janet Yellen, are expected data on producer prices and industrial production.
On the currency front continues the run of the dollar (follow here the performance of the dollar against major currencies and here the trend of the euro) that is close to the highest for 11 months against the major currencies on expectations that the economic and fiscal policies of Trump) will lead to an increase in inflation and moves more close and effective by the Federal Reserve. Also noteworthy is the decline in the yuan, which is about the minimum for 8 years on the greenback.
Cala the rate of unemployment in Great Britain, on the rise in the pound
The unemployment rate in Britain fell to 4.8% in the three months calculated at the end of September was 4.9% in the previous period). The average wage rose 2.4% in the quarter . Stable the rate of increase in average weekly earnings, with a +2.3% recorded in October, equal to the previous month. On the rise In the pound after the data (follow the progress here divided the british against dollar and against euro).
(Il Sole 24 Ore Radiocor Plus)
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