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The lists breathe a sigh of relief after signs about the US president’s health. Market attention remains high on Covid cases, with new lockdown measures multiplying, from New York to Paris. Oil rebound, euro stable at $ 1.17
by Enrico Miele
The lists breathe a sigh of relief after signs about the US president’s health. Market attention remains high on Covid cases, with new lockdown measures multiplying, from New York to Paris. Oil rebound, euro stable at $ 1.17
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European stocks breathe a sigh of relief after signs of improvement in the President Trump’s health, whose positivity on Covid has suddenly multiplied political uncertainties on the eve of the vote in the United States. So far, Trump has only left the hospital to briefly say hello to fans and could be released in the next few hours if his condition continues to improve. But the attention of the markets remains high especially in the trend of almost Covid, with the new measures of confinement that in these hours are multiplying in many areas of the world, from New York to Paris. The rebound in oil following recent weakness due to fears about global energy demand also supported prices. This was as Wall Street closed its last session on October 2 lower, also due to the disappointing September employment report. On the macroeconomic front, the week opens instead with SME services for the euro zone, while the expectation of the launch in the Council of Ministers by the Conte government of the Def Update Note, which will give the estimates of growth of Italy, while the differential seems stable at 132 points.
“Strappo” Nexi after marrying Sia, Bper collapses
In Piazza Affari, after not having made a price in the first minutes, he snatches Nexi who has formalized the wedding with Sia after months of negotiations. Purchases began after the signing of the memorandum of understanding for the integration with Sia, which will lead to the creation of a hub in the digital payments sector with pro forma 2019 aggregate revenue of 1.8 billion euros and an EBITDA of 1 billion euros. . In the automotive sector, Cnh and Pirelli are up. Holding company Atlantia is on the rise, always grappling with negotiations with the government over highway concessions. At the bottom of the Bper sales list the day the capital increase of 802 million euros is triggered to finance the acquisition of Ubi Banca’s branches.
The spread between BTp and Bund is not very smooth, and the Italian 10-year yield remains at an all-time low. Earlier in the day, the yield differential between the Italian 10-year December 1, 2030 and its German counterpart (August 15, 2030) is indicated at 132 basis points, one more than the close on Friday, October 2. the ten year performance Italians still fell to 0.78%, compared to Friday’s record low of 0.79%.
The unknown Covid on the Trump-Biden duel
The October 2 session ended with a tone of weakness on Wall Street, while Europe managed to better withstand the shock caused by the announcement of virus positivity for Trump. The contagion, according to market watchers, risks making the battle for the White House and the duel with Joe Biden, which is already warning investors, even more uncertain. The continuing disagreement between Republicans and Democrats in the US Congress over the green light for the new fiscal stimulus plan is also generating caution.
Great attention between services for SMEs and ECB purchases
In this session, the focus will be on macroeconomic data (as well as the numerous public testimonies from members of the Fed and the ECB) with the SME indices anticipating the dynamics underway in the services sector in Europe. The ECB, for its part, will publish the bimonthly update of the purchases made in August and September as part of Pepp’s pandemic plan.
