Without the guidance normally provided by Wall Street, closed on Thanksgiving, Piazza Affari ended the session in a draw. Among the worst performances of the Ftse Mib, which stopped at 27,098.83 points (-0.04%), we find the trio formed by Saipem (-1.27%), Tenaris (-1.25 %%) and Eni (-0.6%), pushed down by the second consecutive session of weakness for crude oil.
Down by 0.3% to 80.7 dollars a barrel, Brent finds itself in the grip of those countries, led by the United States, which aim to bring down prices and OPEC + members (which include major exporters plus Russia), which instead limit production.
The worst performance on the blue chip basket was recorded by Telecom Italia (-2.65%) which, after an intraday high of 0.5094 euros, above the 0.505 put on the plate by KKR, closed at 0.484 euros. The closing was marked by weakness for Assicurazioni Generali shares (-0.43%) after the news of the exclusive negotiations with Credit Agricole for the purchase of La Medicale.
New positive day for Enel (+ 1.48%), well in tune the day after the presentation of the strategic plan, and for Campari (+ 2.51%), top performer of the Ftse Mib thanks to the indications coming from the record six-monthly numbers of competitor Remy Cointreau.
On the day of the BTP auction, the spread between our ten-year bonds and German bonds registered a red of one percentage point at 126 basis points. This morning the Treasury put on the “Short Term” BTP market for 2.25 billion with a coverage ratio of 1.45 and a yield down 3 points to -0.26%. BTPs indexed to 10 years for 1 billion were also allocated, with bid-to-cover at 1.46 and a yield of -0.65%, + 20bps.
After the minutes of the Fed, which revealed the willingness of some members to intensify the tapering process, today was the desire for the minutes of the last meeting of the ECB board.
From these it emerged that despite the fact that price growth will probably last longer than expected, in the medium term it is estimated to be below 2%. While pre-Covid GDP levels will be reached by the end of the year, bottlenecks in supply chains and price hikes in December will lead to a downward revision of the 2021 economic growth estimates. (In collaboration with money.it ).