It shows no signs of abating Piazza Affari rally, which closes today with an increase of 1,07% at 32.700 basis points, enlivened by press rumors on the possible birth of a large European financial hub formed by the triangle Unicredit + 1,81% Mediobanca + 5,24% Generali +3,27%. The main Milanese stock exchange closed its fifth consecutive week on the rise, in which it rose by around 3% overall.
The other European lists are more cautious, such as Paris + 0,7% Frankfurt + 0,28% London +0,32%, while Amsterdam yields 0,3% e Madrid 0,09%.
Wall Street cautious, Nvidia hits two thousand billion
Wall Street is apparently taking a breather (Nasdaq -0,16%), but we must take into account the fact that the technological price list is moving at record levels (16 thousand points) and in the meantime Nvidia it reaches two trillion dollars in capitalization for the first time.
In this context, the projects of the central banks take a backseat, even if the idea of a postponement of the timing of a rate cut by the Fed weighs on oil, which interrupts a series of two positive weeks and is currently moving in loss. The Brent it loses almost two percentage points and trades around 82 dollars; Texan crude loses 2,3% to 76,80 dollars a barrel.
Euro-dollar flat. For Lagarde everything will depend on the data
On the currency market theeuro-dollar remains at or near 1,08. Today the president of the European Central Bank Christine Lagarde he reiterated that the choices of the ECBs will depend on the data and certainly not on the choices of the Fed.
“The fourth quarter payroll data is obviously encouraging,” he said Lagarde – but the Governing Council needs to have greater confidence that the disinflation process we are observing is sustainable and leads to the medium-term objective of 2%.” May wage data and inflation data will be important.
Piazza Affari in rally with the banks
A lot is moving or is hypothesized to move around the banks and Piazza Affari benefits from the speculative appeal in the sector. Among the best stocks on the list is Mediobanca, with the market believing in the scenario drawn by the Foglio, which sees a plan prepared by a large international bank to ccreate a bancassurance giant of global dimensions. The hypothesis pushes Generali, Banca Generali +2,73% and Unicredit.
Leader of the day is Banco Bpm, +5,4%, possible cornerstone of a banking consolidation together with Monte Paschi +2,16%. The stock of the bank led by Giuseppe Castagna benefits from Bofa's Buy which underlines the excellent positioning of the institution in an M&A scenario, together with the undervaluation of the stock by the market.
In the wake Bper + 2,16% Banca Popolare di Sondrio +3,61%, the latter being a candidate, among other things, to enter the Ftse Mib with the next quarterly review (which will be announced next Wednesday), an entry that will further strengthen the specific weight of the sector on the basket of blue chips.
Furthermore, the biggest increases of the day include Recordati + 2,32% nexi +1,77% and Tenaris +1,86%, the latter returning from the previous jump thanks to quarterly numbers that amazed the market.
The biggest reductions are for Campari -2,01% stm -1,68% Fincobank -0,83% Snam -0,73%.
Declining spread waiting for the new Btp Valore
Yields are falling and the spread on the Italian secondary market is narrowing, waiting for the start on Monday third issue of the BTP Valore, intended for small savers. THE guaranteed minimum rates they are 3,25% from the first to the fourth year and 4% from the fourth to the sixth, furthermore there will be a loyalty bonus of 0,7% for those who hold the title until maturity.
As regards the progress of the government bonds today, the ten-year rate drops to 3,76% against 2,34% of the Bund of the same duration, for a spread of 142 basis.
