After the long charge, Taurus is showing some signs of fatigue in Asia this morning. But the rally nevertheless allowed US stock prices to get closer to the highs reached in February (the Nasdaq is only 1,4% from the peak) before the outbreak of the epidemic. And Europe follows closely, galvanized by the forthcoming injection of liquidity by the ECB.
Tokyo's Nikkei was up slightly, while Hong Kong's Hang Seng was down 0,2% on the day of theTiananmen anniversary. The local Parliament is preparing to vote today on the law that criminalizes the contempt of the Chinese flag. Shanghai Composite -0,1%.
South Korean and Australian stocks eased compared to tonight, but remain higher. The Seoul court has to decide today whether or not to put the Samsung heir to prison, guilty of corruption.
INDIA, AN INCREASE OF 7 BILLION FOR RELIANCE
Mumbai +0,3%. Reliance Industries, the gigantic conglomerate that includes refineries, supermarkets and telecommunications, yesterday successfully concluded the seven billion dollar capital increase intended to finance the evolution of the business towards e-commerce and the Internet.
In the emerging markets area, the rally of the Brazilian Stock Exchange continues, completely indifferent to the dramatic spread of the Covid-19 epidemic in the country. The Bovespa di San Paolo index gained 2%, for the fourth consecutive session of gains.
NASDAQ NEAR THE RECORD, ZOOM +7,6%
Another rising session for Wall Street, which is once again revising its highs: more than the Nasdaq (+0,78%) the Dow Jones (+2,05%) accelerates, thanks to the extension of Boeing (+2,9 %) on the wave of the purchases of Daniel Loeb, one of the most famous investors. S&P 500 +1,36%.
The increases involved all sectors, from technology (Microchip +12,3%) to teleconferences (Zoom +7,6%). The agreement with the best-known influencer, Kim Kardashian, gave Coty cosmetics wings (+13,4%).
Positive debut also for Warner Music: since yesterday music has a listed benchmark.
THE BRENT DROP BELOW 40 DOLLARS
Brent oil is back below forty dollars a barrel, down 1% after five consecutive sessions of gains. It seems that Saudi Arabia and Russia have agreed on the extension of the hydrocarbon extraction moderation regime agreed in April, but the two heavyweights of OPEC Plus are also asking for some sacrifices from the others, above all Iraq, unavailable to apparently, to follow the discipline imposed by Moscow and Riyadh.
Futures signal a slight decline on Wall Street along with a further weakening of the dollar.
ANOTHER 500 BILLION IN ASSETS FOR THE ECB'S BAZOOKA
Today the ECB, barring improbable surprises, will announce an expansion of the securities purchase plan by at least 500 billion euros, after having already spent around a third of the emergency allocation announced in March (750 billion euros). This is one, but not the only reason for the acceleration of the markets of the Old Continent, also galvanized by the signs of recovery of the real economy and by the good health of the euro.
7 ACTIVE STOCKS IN PIAZZA AFFARI IN 2020
Piazza Affari (+3,54%) contributed to the rally: the main index reached 19.641 basis points, on levels it had not seen since last March 9, the starting date of the lockdown. The delay since the beginning of the year is reduced to -17%.
The number of blue chips capable of bringing positive performance back from January XNUMXst to seven: Diasorin, Nexi, Recordati, Ferrari, Terna, Enel and Fineco.
FRANKFURT AT THE TOP, THE NEW LUFTHANSA TAKES OFF
Frankfurt is even more toned (+3,82%). The government coalition managed to find an agreement on the new family support plan: VAT rates will be reduced from 19 to 16% from 2020 July for all of XNUMX.
Lufthansa shines on the Dax (+5%). The VC pilots' union has spoken out in favor of the state-funded bailout which has already been approved by the executive board and supervisory board. The agreement provides that the airline will receive 9 billion euros from the German stabilization fund and that the government will become a 20% non-managing shareholder.
AXA (+9%) GIVES A DIVIDEND, RENAULT RISES TO DOUBLE FIGURES
Paris is also making a big splash (+3,36%). In the spotlight Axa (+9%): the insurance company intends to cut the dividend to 0,73 euros per share, compared to the expected payment of 1,43 euros, to maintain liquidity during the coronavirus pandemic. However, Axa added that it could consider the proposal of an additional payment for shareholders in the fourth quarter, for a value of up to 0,70 euros per share, in the event of an improvement in market conditions. Renault also went into orbit (+10,49%) after the go-ahead for a 5 billion state loan. Peugeot +5,95%.
Madrid is also in the running (+2,95%). Outside the euro area, London +2,66% and Zurich +2,33%.
BOOM OF BOOKINGS FOR THE NEW BTP
Requests boom for the new Btp 10 years placed through a syndicate, a sign of renewed confidence in the Italian system: demand has exceeded 108 billion euros, according to what was reported by a lead manager. The yield on the bond maturing on 2030 December 9 was set at 2030 basis points on the August XNUMX BTP.
On the secondary market, the 1,55-year yield travels around 192%, with the spread at 0,35 basis points compared to the Bund, traded at -XNUMX%.
DEUTSCHE BANK'S GREEN BOND IS LIKED
In Germany, the launch of the first green bond issued by Deutsche Bank received excellent feedback. The 500 million euro bond, with a six-year maturity and a 1,375% coupon, recorded requests almost ten times higher, for a total of 4,75 billion euro.
STM AND LEONARDO SUPERSTARS IN MILAN
In Milan, almost all the blue chips finished strongly higher. At the top of the list Stm and Leonardo, both +8%. The improvement in the guidance for the American Microchip sector for the first quarter of the next fiscal year contributed to supporting the Italian-French joint venture.
Cnh Industrial (+5,71%) and Fiat Chrysler (+5,16%) also shine, which is carrying out tests in Turin for a project that allows plug-in hybrid vehicles to switch automatically to electric mode when entering crowded historical centres.
MEDIOBANCA/GENERALI CONTINUES THE MARCH, TIM BRAKES DOWN
The entire banking sector closes on the rise. Mediobanca (+5,43%) is still rallying together with Generali (+5,8%), Unicredit is running (+5,16%). Ubi (+4%), Bper (+3,21%) and Intesa Sanpaolo (+2,97%) also performed well.
Oil stocks contributed to fueling the rally: Tenatis + 4,99%, Saipem +3,59%, Eni + 2,6%.
Among the few titles in the red Tim (-0,99%): talks between Iliad and Open Fiber to negotiate the conditions of access to the fixed network, which have been underway for some time, are speeding up. Diasorin is also slowing down (-3,02%).
THERE IS DRUMS BEHIND THE IMMUNI APP
Among the mid caps, Fincantieri (+8,87%) and Sogefi (+8,5%) did well.
Drums -0,8% after the debut of the Immuni App chosen by the government to contain the Covid-19 epidemic, which has already climbed the ranking of the most downloaded applications on iPhones. Immuni was produced by Bending Spoon, a company owned by Tip.
On Aim, money on Sciuker (+4,39%), after the company signed a technological partnership agreement with Enel X, the Enel Group company active in the Italian market for energy efficiency services.
