The European lists close in recovery, despite missing the final with a bang due to a partial slowdown on Wall Street, perhaps due to the uncertainty on the tenor of the speech expected in the evening by President Donald Trump who will speak to the nation, probably to declare the national emergency from the coronavirus. At the moment the Dow, Nasdaq and S&P500 gain more than 3 percentage points: in the end the Dow Jones closed up 9,36&, the highest increase since 2008. In Europe: Frankfurt +0,77%; Paris +1,83%; Madrid +3,73%; London +2,62%.
Piazza Affari is the best and rebounds by 7,12%, retracing to 15.954 basis points, after having reached much higher peaks in the session, which gave hope for a total recovery of yesterday's serious losses (-16,92%). The words of the president of the EU commission, Ursula Von der Leyen, contributed to giving new life to the Milanese price list: “For Italy, ample room for maneuver and maximum flexibility on the rules relating to state aid and in the framework of the Stability Pact". Furthermore, Consob has banned short selling for 85 shares for today and according to the chairman Paolo Savona the rebound demonstrates that the collapse in prices on the eve does not reflect the worsening of the economy's fundamentals.
Even the ECB corrected the shot afterwards the ugly gaffe of the ECB president Christine Lagarde yesterday. Philip Lane, chief economist of Eurotower, today writes on his blog that the institute "is ready to do more and to intervene if necessary" with all the tools "to ensure that the high spreads we see, due to the acceleration of the coronavirus , do not endanger the transmission of our monetary policy in all the countries of the Eurozone”. For the governor of Bank of Italy Ignazio Visco then, the ECB "if necessary will act again" and yesterday's decisions "are not the last word".
Scrambled by all this news, the differential between the ten-year Italian and German remains unchanged: 238 basis points (-0,4%), with the yield of the 10-year BTP at +1,75% and that of the Bund at -0,63%.
On the currency market, the euro is down against the dollar and trades at 1,1069. Among raw materials, gold loses more than 4% and trades at $1520,70 an ounce. Oil, while remaining very volatile, appreciates: Brent +2%, 33,88 dollars a barrel.
Piazza Affari closes with all blue chips on the rise. The banks put in a splendid performance starting from Bper +22,4%; Bench Bpm +15,06%.
Recordati also in the top ten +18,72%; Azimuth +15,37%; Hera +15,22%; Moncler +14,23%; Cnh +12,02%; Pirelli +11,7%; Juventus +11,56%; Finecobank +11,36%. Well Leonardo, +5,77%, after 2019 results and Generali +2,33%.
