Stock market, Milan shines (+1.4%): no negative effect from Moody’s US outlook
Business Square closes the first session of the week by achieving the best performance among the main European markets. The Ftse Mib ends trading gaining 1.48% to 28,952 points. In the rest of Europe, Frankfurt marks +0.67%, London +0.89% e Paris +0.63%.
On the list, supported by Fitch’s verdict which confirmed Italy’s rating, banking stocks took off at the end of the quarterly round. Leap of Mount Paschi (+8.57%) after the same Fitch raised its rating and on the positive opinions of analysts. Well Bpm (+4.60%), Bper (+7.13%), Understanding +1.42%, Unicredit +3.27% which purchased 9% of Alpha Bank, Mediobanca +1.39%, with the buy back starting today.
Among the financial companies, Unipol +3.05% after the accounts, closes well Generali Bank (+1.92%) which today approved the quarterly report. Evidence for Tim (+3.21%), with Fitch evaluating the possible upward revision of the rating after the sale of the network to Kkr. Among the other blue chips on oil with Eni +1.56%, Saipem +4.96%, Tenaris +1.46%. They go up Stellantis at +1.85%, Ferrari +2%, energy markets weak with reductions for Terna, Snam, Italgas.
As for the bond market, it spread between ten-year BTPs and their German Bund counterparts it closed stable at 177 points, compared to 185 at the start and 186 points at the end on Friday. The yield of Italian government bonds drops to 4.49%. Finally, on the currency front, the euro showed little change with the single currency changing hands at 1.0677 dollars (-0.03%) and 162.03 yen (+0.07%). Dollar/yen exchange rate at 151.74 (+0.16%).
READ ALSO: Unicredit gets its hands on Greece: acquired almost 9% of Alpha Services
Positive closing for Asian stock exchanges with Hong Kong at +1.30% and 17,426 points and Shanghai at +0.25%. Previously, the Tokyo Stock Exchange had closed with a more limited rise (Nikkei +0.05%) on the day when it was recorded that producer prices in Japan slowed to +0.8% in October, falling due to the first time in more than two and a half years below 1% annually, a sign that the cost pressures that had driven up prices for a wide range of products are starting to ease.
The Apec summit on Asia-Pacific economic cooperation will be held tomorrow, which will take place in San Francisco, where the meeting between Joe Biden and Xi Jinping is scheduled for Wednesday. On this occasion, the US president will ask his Chinese colleague to relaunch communications between the two armies, which were closed last year after the then Speaker of the US House Nancy Pelosi visited Taiwan.
#European #stock #markets #positive #Milan #shines #Spread #points