Stock markets rise, Wall Street rises on the eve of the Midterm vote. Telecom flies to Milan

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(Il Sole 24 Ore Radiocor) – The European stock exchanges, after an early part of the day with the handbrake on, have regained their tone and are getting longer after the race on Friday. The indices, with the FTSE MIB in Milan that has even earned more than one point, while moving in the name of prudence Wall Street, where the expectation rises for the American result of the Midterm elections to be held on November 8th. According to polls, Republicans could win the ballot box confrontation, handing the United States a divided or Republican-majority Congress. In the background remains the fear that the Federal Reserve will continue to sharply raise the cost of money in the coming months. After all, the American job market is thriving: 261,000 jobs were created in October, beyond analysts’ expectations. So keep an eye on the important data on American inflation, which will be released on Thursday. Thus, while the spread falls to 212 points, although the yield on ten-year BTPs is up to 4.48%, in addition to Milan, the CAC 40 in Paris, the DAX 40 in Frankfurt, the IBEX 35 are also on the rise. in Madrid and the AEX in Amsterdam. Further back, the FT-SE 100 in London. Technicians are under pressure, with Elon Musk turning around on the layoffs announced on Twitter and Meta, the company headed by Facebook, which according to rumors is heading towards huge job cuts. In general, China remains under special surveillance regarding the policy to combat the spread of Covid. The spotlight is also on Ukraine, with the out-of-control situation in Kiev due to the electricity blackout. The mayor of the capital also announced the possibility of a mass evacuation.

Wall Street up on the eve of Midterm elections

On the rise Wall Street, on the eve of the mid-term elections in the United States where a victory for the Republicans is expected, at least in the House. Many observers point out that a divided or Republican majority Congress has historically guaranteed gains on the indices. Turning to the data, the most anticipated this week is that on consumer prices in October, a thermometer of inflation, scheduled for Thursday. On Friday, the US employment report showed once again a strong US job market, which grants the Federal Reserve ample freedom on interest rate hikes to counter inflation.

In Piazza Affari Tim stands out, eyes on the banks

Piazza Affari stands by Telecom Italia, on the hypothesis that Cassa Depositi e Prestiti will launch a takeover bid on the company, as foreseen by the Minerva plan conceived in recent months by the undersecretary, Alessio Bucci. The Fratelli d’Italia politician announced an imminent meeting with the company’s stakeholders. In the spotlight the shares of Generali, after the company announced that it has signed a long-term distribution agreement in Portugal with Ctt Group, also entering its shareholder base with an 8.7% stake. Also of interest is Diasorin, which has announced the launch of a pair of Analyte Specific Reagent (Asr) primers for detection of the monkeypox virus B17R / B18R gene. Unicredit is down, after the rumors reported by the Financial Times according to which the European Central Bank is critical of the bank’s dividend distribution policy. Out of the main basket, attention was paid to Webuild, after the company, in consortium with Salcef, was awarded the 291 million euro contract in Romania.

Spread down, 10-year yield goes up

A downward trend in the spread between BTp and Bund in the secondary MTS market for European government bonds. The yield differential between the benchmark ten-year BTp (Isin IT0005494239) and the German bond with the same maturity is indicated at 212 points, from 215 basis points at the start and from 216 basis points at the last closing on Friday. The yield of the benchmark ten-year BTp continues to rise, which marked 4.47% from 4.45% at the previous close.

Stable euro, lower oil and gas prices

On the foreign exchange market, the euro is quite stable: it is worth $ 0.9935 (Friday closing at $ 0.9912). It also traded at 146.4 yen (145.858), while the dollar / yen stood at 147.38 (147.152). Oil is down: the wti contract in December loses 1.5%, settling at 91.2 dollars a barrel. The value of gas also goes down: the December contract loses 4.1% to € 110 per megawatt hour.