European stock exchanges take a break, while Wall Street gets back into gear and the Bitcoin exceeds $50 for the first time in history.
These are, in a nutshell, the financial news of the day at the close of the European stock exchanges which stop slightly down, thanks to profit taking and the prolonged lockdown in Germany for fear of the variants of the coronavirus, which are also putting a strain on some Italian areas.
Frankfurt it lost 0,32%, despite the Zew index on confidence in the German economy in February with results above expectations.
They float Paris +0,1% and London -0,09%, while the losses are more consistent a Madrid -0,58% and Milano -0,69%.
The weakness of utilities weighs heavily on Piazza Affari, especially a giant like Enel -1,91%, but also A2a -2,01% Italgas -1,93% Terna -1,72% Snam -1,66% Ivy -1,65%. Some achievements on banks are also being felt, Bper -1,46%. Going against the trend in the sector Ps, +1,25% after the weakness on the eve.
Oil stocks are mixed, good Saipem +1,61% and Tenaris +0,16%, while going into red Eni -0,48%. Out of the main list, it attracts attention Saras +13,73% after signing a memorandum of understanding with Enel Green Power to start the decarbonisation of the Sarroch refinery in Sardinia. For the broker Bestinver, the current levels of the stock are "very depressed and represent an interesting investment opportunity with a medium-term perspective". According to a trader, “Fund portfolios were quite empty of this stock due to the low level of the shares”.
Progress for Campari + 0,73% stellantis + 0,72% nexi + 0,97%.
On the debt market it is spread between Italian and German ten-year bonds, it drops to 89 basis points (-1,76%), with a slight increase in rates (Btp +0,54%). Sentiment remains favorable as we wait for Prime Minister Mario Draghi to gain confidence in Parliament, even if we can already see numerous cracks in the vast majority. On the primary side, in the first sale of bonds in the Draghi era, record requests were recorded for the new 10 and 30-year BTPs which, according to what Radiocor writes, would have exceeded 130 billion euros.
On the money market theeuro-dollar it is little moved, in area 1,21.
While traditional currencies move within a narrow range, the bitcoin even today it shows off special effects and flies over $50 for the first time in history, reaching a peak of $50.302, before falling back below $49. A year ago the most famous cryptocurrency wasn't even worth $6000, after a sudden drop at the start of the pandemic. Impressive is therefore the gallop made in the space of 12 months and the acceleration of the last few weeks, due to the support of some heavyweights: Tesla, which announced that it has invested 1,5 billion dollars in bitcoin and accept payments with this currency digital for its cars; the US bank BNY Mellon which will offer a bitcoin custody and trading service for its customers; Mastercard, which is reportedly considering allowing the use of digital currency for some transactions.
A Wall Street the stocks of cryptocurrencies and blockchain-related companies including Silvergate Capital Corp, Riot Blockchain and Marathon Patent Group benefit from this situation. The US stocks update their highs overall as investors bet on stocks sensitive to the economy, on hopes that more fiscal stimulus could contribute to a rebound. Highlights include financials, mining and energy stocks. Instead, the technology index slows down and the Nasdaq is currently moving below parity.
Il Petroleum is little moved, after the recent gains. Brent moves just above 63 dollars a barrel, while Texan crude trades upwards, approaching the threshold of 60 dollars, also following the grip of the frost that is gripping and the Taxas blocking the activities. Gold in decline: the April 2021 future loses about 1% and trades at 1803,40 dollars an ounce.
In the macroeconomic sphere, Eurostat reports that in the last quarter of 2020, the euro area economy contracted less than initially estimated and employment increased compared to the previous three months despite the lockdowns due to the pandemic. The bloc's GDP contracted by 0,6% on a quarterly basis in the October-December period, down by 5,0% on an annual basis. Eurostat had previously estimated a contraction of 0,7% on a quarter and 5,1% on a year.
Furthermore, according to the statistical office of the European Union, employment grew by 0,3% on a quarter in the last three months of 2020, after a quarterly increase of 1,0% in the previous three months, although still 2% drop from a year earlier.
