Positive stock despite the jump in US inflation

Piazza Affari and the other European stock exchanges closed a swing session marked by indications from US inflation on a positive note. Last month, the US consumer price index posted + 0.9% monthly and + 6.2% annually, the highest in 3 decades. In both cases, the estimates of the analyzes were oriented towards smaller numbers: at the economic level the CPI (Consumer Price Index) was seen at + 0.6% while on a trend basis an increase from 5.4 to 5.8 was estimated for hundred.

Experts fear that a 7% rise in the coming months could lead the Federal Reserve to speed up its plan to withdraw extraordinary stimuli. Despite this, an Ftse Mib that was quoted flat in the middle of the session ended up by 0.44% to 27,561 points.

Supporting the performance of the blue chip list was the performance of Stellantis (+ 2.53%) and CNH Industrial (+ 1.86%). Telecom Italia (+ 1.67%), Terna (+ 1.51%) and Enel (+ 0.93%) also did well. Day to forget instead for Tenaris (-3.32%), STMicroelectronics (-1.96%) and Moncler (-1.09%).

Despite a return to profit and increasing revenues, the failure to present detailed forecasts caused Salvatore Ferragamo shares to lose 4.23%. Among the other companies that have lifted the veil on their accounts we point out the + 8.46% of Safilo and the + 6.86% of Mediaset.

The Venetian eyewear group at 30 September recorded net sales up by 37.3% to 737.4 million euros (+ 8.7% on 2019 at constant exchange rates) while Mediaset capitalized better than expected results and the estimate of a 2021 of “decisive strengthening of economic results”.

From the bond front, on the third day of the placement of the BTP Futura, the Treasury put on the market 12-month Bots for 5 billion. The bond yield stood at -0.533%, -6 cents compared to the previous month’s auction. A minus sign for the BTP-Bund spread, down 4% to 108 basis points. (in collaboration with money.it)