Bags on the rise. Spread in area 160, upward returns in the BoT auction

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The calm returns on the stock markets, after the weakness of the vigil. European Stock Exchanges are moving higher, with Milan marking the best performance. Investors are waiting for news on the commercial front after Trump's statements slowed last week's enthusiasm for an agreement that seemed to have been reached. A speech by the US president is expected today at the NY Economic Club, which takes on a particular value given the decision of tomorrow on the possible inclusion of duties on cars. According to reports from the New York Times, the White House is already thinking of suspending the inclusion of these tariffs, given the renewed constructive talks with European companies on a possible increase in investments and the workforce in the US. The situation in Hong Kong remains under observation, after yesterday's protests and the harsh reaction of the police, another element that contributed to the weakness of the lists yesterday, after last week's rally that brought the indices to new highs .

On the domestic front, the BTp / Bund spread moves to 160 points, with a new tension on the peripherals linked to the uncertain outcome of the Spanish elections. The new concerns for political stability in Italy also weigh, with the tensions within the executive unleashed by the Ilva issue. In addition, the weak data on industrial production in September contributed to burdening the climate. "In the last month the BTp-Bund spread has widened by around 20 points. The litigation of the government partners on the maneuver and the uncertainties linked to the fate of Ilva have perhaps weighed, but a profit-taking is physiological after a phase of strong and rapid rises in BTp prices, "comments Luigi Nardella of Ceresio Investors. "If the political situation in Italy remains stable and the world economy accelerates – he adds – or spread has room to go back down".

BoT, assigned 5.5 billion annuals, yield rises to -0.135%
Increased yield for the annual BoTs assigned today by the Treasury. In today's placement, the Treasury issued 5.5 billion 12-month bonds with 11/13/2020 deadlines, with a return of -0.135%, up 8 cents on the previous month's auction. The demand was good, reaching € 8.7 billion, with a ratio of supply and demand equal to 1.58. The auction regulation falls on November 14th.

The series of quarterly reports continues on the stock that so far have given good satisfaction to investors, removing fears of heavy effects of trade war on company balance sheets. The stocks of the European technology sector have been bought well today after the best data of the German giant Infineon Technologies and Dialog Semiconductor. In Frankfurt, Infineon drives the Dax30 with a jump of almost 7% after closing the fiscal year with a turnover of 6% up on the previous year. Good in Milan Stmicroelectronics. Also worthy of note, also in Frankfurt, was the leap of Prosiebensat Media after Mediaset Espana announced that it had acquired a 5.5% stake, thus bringing its stake to 15.1% from 9.61% and becoming the leading shareholder of the group. In the telecommunications sector, in Paris Iliad flies 18% after the quarterly and the announcement of a buy back.

Banking and savings stocks are now well-known in Piazza Affari. The rise of Azimut stands out, at the top of the main list, but also Unicredit moves well, for the other banks rises by less than a point. Today eyes on Mediobanca that presents the industrial plan after Leonardo's share was formalized yesterday Del Vecchio, the first shareholder of Piazzetta Cuccia with 9.889%. On the quarterly front, the numbers of Enel, Mediaset, Prysmian and Salvatore Ferragamo are arriving in Milan.