Indexes in Piazza Affari are moving sharply higher, in line with the performance of other European stock exchanges, driven by the outcome of the vote in the United States, with Donald Trump claiming victory for the presidency.

One trader points out that the uncertainty effect has disappeared, and this is being rewarded by the markets.

From early indications from analysts, the return of Republicans to the White House leadership should "favor companies exposed to infrastructure investment, deregulation, lower subsidies and lower taxation and that produce directly in the U.S., while companies exposed to tariffs and consumer and luxury stocks that export from Europe to the U.S. could be penalized," Intermonte writes in the daily.

Around 10:25 a.m., the Ftse Mib jumps 1.26 percent in the wake also of U.S. futures rising sharply.

Remaining more in the background is the performance of stocks linked to numerous quarterly reports.

Sharp rise for the cement sector with Buzzi up 4.65 percent, which gave its quarterly report yesterday, and Cementir up 2.7 percent with one trader pointing out that the sector is also benefiting from expectations about the end of the conflict in Ukraine and therefore pointing to the large investments that will be there for post-war reconstruction in the country.

Also strong is Tenaris, which jumps 6.2% on the prospect of a resumption of oil exploration.

In contrast, energy companies more exposed on the renewable energy front sold off, such as utilities Erg at -0.4 percent and flat Enel, recovering sharply after a decidedly more dramatic start to the session.

Also up sharply were Stellantis and Iveco, which advanced 4 percent on re-hedging after recent declines and after they had already discounted expectations of possible tariffs with Trump's return to the White House.

Also good is Diasorin, which rises 4.3% after yesterday's better-than-expected quarter results.

Strong buying also in luxury with Cucinelli up 3.4 percent, Ferragamo up +1.7 percent and Aeffe up 5.8 percent heedless of fears about possible duties in the US.

Collected also UniCredit advancing 1% after quarter this morning above expectations and improved 2024 guidance. Runs Pop Sondrio up 3.3%, rewarded by above-expected quarter.

On the opposite side Inwit retreats 2% after results in line with expectations and the announcement of revised 2024 revenue guidance at the lower end of the range. Jp Morgan also cut its target price to 13 euros from 14.1 previously.

(Giancarlo Navach, editing Stefano Bernabei)