Home » Business » Stock exchanges close in no particular order on the «Fed day», in Milan Ferrari rally. Spread drops to 120

Stock exchanges close in no particular order on the «Fed day», in Milan Ferrari rally. Spread drops to 120

(Il Sole 24 Ore Radiocor) – The European stock exchanges at the window on the day of Federal Reserve. The American Central Bank is preparing to announce the ‘tapering’, the reduction of stimulus to the economy, while the wait is still long for a rise in interest rates, and the European indices have moved in no particular order. Piazza Affari was the best (FTSE MIB), Madrid the worst (IBEX 35), while the other squares moved in no particular order (Paris CAC 40, Frankfurt DAX 30 ). Also to Wall Street weakness prevails, after the records of the last sessions.

In Piazza Affari it is a record-breaking Ferrari, weak Intesa after accounts

On the Ftse Mib the best was Ferrari, which started at record values ​​(€ 221.6 at closing, after the intraday maximum of € 227.8) after the quarter, initially greeted with skepticism by investors, who then focused on the reassurances of Ad Vigna and on the increase in guidance 2021. In general, the banks are doing well, with the spread falling further to 120 points, from the 122 on the eve of the eve and after having touched 134 points in recent days, the highest since the beginning of October 2020. Going against the trend Intesa Sanpaolo, after the quarter, even if the net profit exceeded expectations. In general, the energy sector was penalized by the slowdown in oil, which fell sharply pending the decisions of OPEC + and after the higher-than-estimated rise in American inventories (Eni, Saipem e Tenaris, on the other hand before the accounts).

At a rapid pace also Exor and Leonardo, bad Diasorin

On the Ftse Mib there are some of the best Exor, which is just below the highs reached in recent days at 83.44 euros (today it closed at 83.36 euros), and Leonardo, which has strengthened its presence in the helicopter rescue market in the United States with new contracts that include, inter alia, two single-engine helicopters and a light intermediate helicopter. As mentioned, Eni stands out in the negative, which started the downward movement yesterday after two very positive sessions and an increase of almost 3% on Monday. The stock, which had reacted well to the spread of the quarterly report in growth, with the positive judgments of the investment banks confirming the positive view on the shares, is now hit by profit-taking, as well as by the decline in oil. The worst was Diasorin, which in previous sessions recorded steady gains.

Super debut for the medical freshman

Outside the main list, the rally of Medica: the group in the biomedical and medtech sector debuted on Euronext Growth Milan, the twenty-sixth admission since the beginning of the year on the Italian Stock Exchange market dedicated to small and medium-sized enterprises. In accelerated also Eprice , fresh from the collapse of the previous sessions that had brought it to an all-time low of 0.0212 euros per share, in the wake of a weak situation that began at the end of September, when an Italian operator in the large-scale distribution sector interested in the creation of a an investment operation in ePrice Operations, an operating company wholly owned by ePrice, has instead backtracked. Finally, a new rally also for Renergetics (+ 5.11%), which after having signed an agreement with Enel Green Power Italia for the development of 5 photovoltaic plants in northern Italy, sold another project in the United States for the development of a photovoltaic plant, with a power of 3.125 MWp, in the state of Maine.

FTSE Mib stock market trend

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Sales on oil, the sector is bad in Europe

Energy stocks are the worst in Europe, with the sector’s Eurostoxx in sharp decline. The profit-taking on the sector was triggered together with those on the Petroleum . «In view of tomorrow’s meeting – say the analysts of Mps Capital servise – oil is feeling the effects of US pressure on OPEC + for an increase in production higher than planned. President Biden he blamed the producers for stimulating inflation with their strategy, while the Secretary of State, Blinken, asked the Emirates for greater production ». In this context, speculation increases among operators that if OPEC + does not add extra barrels to the 400,000 already planned, “the US in coordination with other states could release strategic reserves (the IEA has declared that it is ready to act if necessary and strong pressure also comes from India and Japan) ».
The December WTI dropped 3.2% to 81.2 dollars a barrel and the January Brent dropped 2.7% to 82.36 dollars. On the currency, the exchange rate between euro and dollar it strengthens and is worth 1.1583 (from 1.157 at the close of the financial markets on November 2).

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