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(Il Sole 24 Ore Radiocor) – Weak trend for European stock exchanges in the last session of November. On the eve of Wall Street it was closed for Thanksgiving and today it will only be open for half a day. In the United States, however, there is great anticipation for the data on purchases made for Black Friday, which anticipate consumption in the final part of the year. So they travel with the handbrake on FTSE MIB of Milan and the CAC 40 of Paris, which does slightly better than the others after the increase in production in October (+0.8% on the month and -4.7% on the year, better than -5.7% in September) and the +0.4% of GDP in the third quarter thanks to the boost from the Olympics. Weak the DAX 40 of Frankfurt, theIBEX 35 in Madrid, l’AEX of Amsterdam and the FT-SE 100 of London. Chinese stock markets are positive, while Tokyo closed the session down by 0.59%.
The day is full of European macro data, starting from the flash estimate on EU inflation for November, a key element for deciphering the ECB’s next moves. Meanwhile, in Italy industrial turnover fell by 0.3% on the month and by 5.8% on the yearwhile that of services increased by 0.5% in September (-0.6% on year). Germany announced the trend in retail sales, which fell in October by 1.5% in real terms compared to the previous month and rose by 1% on an annual basis, while, on the employment front, the unemployment rate is remained stable at 6.1%.
Spotlight on Generali, rumor about an agreement with Natixis
In Piazza Affari the spotlight is on General after that Il Sole 24 Ore relaunched the news that the group is working on an agreement with Natixis asset management. «The project is still in an interim phase, so much so that, it appears, no official document has yet been received by the board of directors of Assicurazioni Generali, however it is working on the plan and the scheme is apparently taking shape», claims the newspaper, according to which a new platform would be about to be born whose strategic management (and ownership of the relevant assets) would remain in the hands of the Leone di Trieste, while in terms of shareholdings Generali Investment Holding would have 50% (in transparency, given the structure Of Yes, it would mean around 42% in Trieste and the remaining 8% in Cathay Life) and the French giant the other 50%.
Banks still in focus, UniCredit and Bpm protagonists
Attention will also remain high on the banking sector, with investors wondering about the offer Unicredit are Bpm Bank which according to the almost unanimity of the operators will be revised upwards by the number one, Andrea Orcel. Unicredit, however, reassured about the redundancies, defining as “pure conjecture” the hypothesis of 6,000 redundancies indicated by the CEO of BPM, Giuseppe Castagna, as a consequence of the aggregation. Intesa Sanpaolo, however, reiterated that it is too big, i.e. it has too many market shares, to be able to intervene in the game. Also Mps Banking continues to gain ground.
Euro remains weak below 1.06 dollars, oil falling
On the currency front, the euro is worth 1.05897 dollars (1.0548 the day before closing) and 158.51 yen (159.84), while the dollar/yen cross is equal to 149.64 (151.03). The value of Bitcoin rose slightly to 96,054 dollars (+0.8%). The price of crude oil is weak: the WTI trades at 68.67 dollars per barrel (-0.6%). Finally, the value of gas is stuck at 46.64 euros per megawatt hour.
