Stock market: Milan the best in Europe with credit, Banco Bpm +10%

First positive session of the week for all the stock markets of the Old Continent driven by Wall Street and the drop in oil prices. But a day in motion especially for the Milan Stock Exchange thanks to banking stocks.

In fact, the Ftse Mib index concluded with an increase of 2.6%, followed by the Madrid list, which closed with a growth of two percentage points, and that of Frankfurt (+1.9%).

The Paris Stock Exchange also did well, up by a final 1.1%, and London, up by one percentage point. Amsterdam is more cautious, still up by 0.8%.

The spread between 10-year BTPs and German Bunds is instead contracting: the differential ended the session at 103.7 basis points against 107 at the start and the yield on the Treasury product at 4.29%. The euro is strong, rising by more than half a percentage point to 1.12 against the dollar.

In the energy sector, gas is in sharp decline: after the close of the European stock exchanges, the methane future for delivery in December marks a contraction of 4% to 82 euros per megawatt hour. Oil fell by 3.5% in New York to 87.5 dollars a barrel.

Rally in Piazza Affari for Banco Bpm: the stock ended up 10.6% at 14.88 euros after the friendly merger proposal by Credit Agricole. Unicredit is also very strong (+6.2% final to 81.62 euros) with record results for the first nine months. In the banking sector, Intesa grew by 2.8% after Consob's green light for the offer document on MPS, which for its part closed up by 2.1% at 11.5.

In the other segments, purchases were made on Avio (+7.7%), Prysmian (+5.9%), STM (+5.2%) and Leonardo, which lost 4.9%. Moncler, Amplifon and Stellantis, on the other hand, lost more than one percentage point.