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The Italian stock market today, November 5, 2020, closed in solid positive territory following the indications from the US elections: with the count still ongoing, Joe Biden has so far added 264 constituencies, against President Trump’s 214 (it takes 270 to become the new president).
Before the start of business in Europe, Bank of england announced that it has increased its bond purchase program in 150 billion pounds (+100 billion estimated by analysts).
With this increase, the asset purchase program amounts to 875 billion pounds. On the other hand, the corporate bond purchase program (20 billion) and the cost of money were unchanged at 0.1%.
In correspondence with the trading stop, the Eurodollar rises to 1.1818 (+ 0.84%) while the barrel of Brent delivered in January 2021 falls 0.99% to $ 40.81.
Italian stock exchange today, 5:40 pm update: Tenaris and CNH rally after quarterly report
At the end of the negotiation, the Ftse Mib stopped at 19,731.38 points, + 1.93% over the previous figure, while the spread fell 2.6% to 126 basis points.
Among the companies that presented the accounts, an increase of 0.17% for UniCredit shares.
The accounts of Tenaris (+ 13.66%) which Kepler Cheuvreux called “decidedly better” than expected.
Also positive day for CNH Industrial (+ 4.95%), which closed the third quarter with a net profit that, in the adjusted version (excluding extraordinary items), stood at 156 million dollars. The figure marks a 29% red compared to 221 million a year ago.
Consolidated revenues showed an increase of 2 percentage points to 6.5 billion dollars (+ 3% at constant exchange rates).
Piazza Affari, update at 1pm: Positive UniCredit after quarterly, Tenaris takes off
At 1:00 p.m., the Ftse Mib rose 1.8%, the Dax advanced 1.53% and the Cac40 registered + 1.08%.
A negative sign for the spread, with a fall of 2.8% to 126 basis points.
Half a percentage point increase for UniCredit shares following the publication of the quarterly report.
The accounts of Tenaris (+ 12.3%) which Kepler Cheuvreux called “decidedly better” than expected.
The company also said it expects a gradual recovery of revenue and margins and announced the payment of an interim dividend of $ 0.07 per share and $ 0.14 for the ADS.
Future Wall Street: scheduled to open in rally
While waiting for the start of trading on Wall Street, and following the indications from the surveys, the Dow Jones derivative registered + 1.5%, which in the S & P500 advanced 1.98% and Nasdaq futures up 2.76%.
Piazza Affari, update at 9:25 am: Positive UniCredit after quarterly report
In Milan, the main basket, the Ftse Mib, in the first trading sessions today, November 5, 2020, shares 19,654.54 points, + 1.53% compared to the previous data, while the Italy-Germany differential lost 2 percentage points to 127 basis points.
The first exchanges also increased for the Dax (+ 1.24%), for the Cac40 (+ 1.13%) and for the Ftse100 (+ 0.33%).
Following the release of the quarterly, UniCredit shares gained 0.7%. The institute closed the third quarter of 2020 with a net profit of 680 million, -42.4% compared to 12 months ago. The result is more than double the roughly 300 million estimated by analysts. Positive indicators also come from capital ratios: Cet1 stands at 14.41%.
Accounts also reaching Snam (-0.36%), which in the nine months recorded revenues of 2,030 million (+ 3.9%) and an adjusted net profit of 873 million (+ 0.7%), e Tenaris (+ 10.47%).
The company said it expects one gradual recovery of revenue and margins and management expects to maintain positive cash generation from operating activities.
Asian stocks: positive new session
The Hong Kong index, the Hang Seng marks + 3.1%, the China A50 finished with + 1.05% and the Nikkei closed with + 1.73%.
Shopping day also for the Australian S & P / ASX 200 (+ 1.28%).
Wall Street bets on Biden and closes with a plus sign
Pending the electoral response, Biden’s advantage allowed the Dow Jones to close with + 1.34%, the S & P500 to finish with + 2.2% and to the Nasdaq to register + 3.85%.
