Departure in recovery for Piazza Affari. The Ftse Mib index, down from -0.6% at the beginning of the eighth, rises by 0.55% to 25,601 points. At the top are Unicredit (+ 1.9%) and Moncler (+ 1.4%). Leonardo was also among the best (+ 1.1% to € 7.34) with the return of rumors on the DRS listing. According to reports from the Reuters agency, the group led by Alessandro Profumo is preparing the listing of DRS on Wall Street, placing about 20% between the end of October and the beginning of November. ENI (+ 0.48%) and Saipem (+ 0.45%) also perform well thanks to oil which is at its highest since 2014 after yesterday OPEC + confirmed the existing agreement for a gradual increase in crude oil production ; there will therefore be an increase in production of 400,000 bg per month until at least April 2022 to gradually eliminate the existing 5.8 mbg of production cuts.
Markets have recovered from yesterday’s declines with sales fueled by Wall Street negativity. The tech sector in particular is in difficulty with the Nasdaq falling by more than 2%. “This is based on ongoing fears that growth stocks will typically perform underperforming in an environment of tightening monetary policy,” IG experts remark in their Morning Call. Added to this are the widespread disruptions on a number of US technology platforms such as Whasap, Facebook and Instagram. Facebook stock (-4.9%) suffered its largest daily loss since November 2020.
Today the PMI surveys of European and US services are to be monitored, followed by the US trade balance data.