(Il Sole 24 Ore Radiocor) – First session of the week positive for the European stock exchanges, which continue on the path taken in the previous eighth. The outcome of the German elections, substantially in line with the forecasts on the eve, does not affect the positive mood of the investors, who in order to understand who will govern in Berlin await the outcome of the negotiations between the parties, which will probably not end before the end of year. Thus the indices of the Old Continent are all positive, with the DAX 40 in Frankfurt in the front row, with an increase even reaching one percentage point. The FTSE MIB in Milan, the CAC 40 in Paris, the IBEX 35 in Madrid, the Ftse 100 in London and the AEX in Amsterdam also performed well.
Investors also welcome the absence of new bad news on the Evergrande front, while keeping the focus on Beijing’s moves, where the regulatory squeeze imposed by the executive on numerous economic sectors could extend to the financial sector. All this as the oil price continues to rally on the prospect that the current level of crude oil output will struggle to meet growing energy demand.
In light Diasorin, A2a lags behind
Among the Milanese stocks with the highest capitalization, Diasorin, Tenaris and Unicredit stand out. A2a, on the other hand, lags behind, while the decline in risk aversion penalizes utilities.
Spread stable at 101 points after German elections
Little moved trend for the spread between BTp and Bund which is not affected by the outcome of the German elections with the Bund which remains substantially on the positions of last Friday. In the early stages, the yield differential between the ten-year benchmark BTp (IT0005436693) stood at 101 basis points, stable compared to last Friday’s closing. The ten-year BTp yield is down fractionally, which is initially indicated at 0.78% from 0.79% at the previous closing.
BTP / Bund spread trend
Euro / dollar little moved, oil still on the rise
On the foreign exchange market, the euro / dollar did not move much compared to Friday’s closing levels. The single European currency is worth $ 1.1709 from 1.1715 and is also listed at 129.58 yen (129.49 on Friday). Dollar / yen at 110.66 (110.73).
The oil price rally continues on the prospect that the current level of crude oil output will struggle to meet growing energy demand. November contracts on WTI exceeded $ 75 a barrel, before retracing to $ 74.85 (+ 1.18%) while those on Brent rose to their highest levels for almost three years (October 2018): the future now stands at $ 79.01 (+ 1.18%).