The desire to restart infects the Stock Exchanges, which today throw their hearts over the obstacle and celebrate the end of the lockdown in many countries, but also the hope of a vaccine for Covid 19. The European price lists, well tuned since the morning, take the flight in the afternoon with the positive start of Wall Street and close higher, led by Frankfurt +5,6%. They follow Paris +5,16%; Madrid +4,84%; London + 4,29%.
Business Square lagged slightly, +3,26%, 17.401 points, due to the coupon detachment by nine heavyweights which weighs 0,86% on the list: Generali -1,15% Italgas -4,12% A2a -2,8% Azimuth -1,55% Eni + 1,61% Buzzi + 5,83% Recordati -0,89% Prysmian + 5,99% Saipem +7,16%. As far as government bonds are concerned, the reception of the new Btp Italia is triumphant.
It bounces Unipol, +8,63%, which puts Friday's bad session behind it, following the quarterly accounts. On the occasion, the CEO Carlo Cimbri confirmed the 2020 guidance and reiterated his willingness to distribute the "suspended" dividends due to the IVASS recommendations. In great dust fca, +8,19%, in line with the automotive sector at European level, the protagonist of the day together with mining and energy. The Lingotto stock is not affected in the least by the controversy over the ongoing dialogue with the government and the Entente for a three-year 6,3 billion credit line assisted by a state guarantee, provided by Sace.
The performances of are brilliant Tenaris, + 7,61%, Cnh +6,53%. Phase 2 raises morale in fashion, Moncler +5,38. Well the banks: Mediobanca +6,92%; Unicredit + 5,91%.
It should be noted that Consob has suspended the ban on assuming or increasing net short positions, bets on share price reductions prohibited since 17 March, "in the light of the progressive normalization of general market conditions". The stock market authority guaranteed that it "will continue to closely monitor the general trend of the financial markets" after observing a "progressive normalization of the general conditions of the market, which however has been associated with a reduction in liquidity".
The fever is also lowering on the spread, while the debut of the new one is a record BTP Italy intended to contribute to the costs of Covid. In the first day, retail demand has already reached around 4 billion euros and there are still two days left for retail. In the entire October 2019 edition, the billions totaled were less and equal to 2,9 billion. Good news also from Europe, at the end of the bilateral agreement between Angela Merkel and Emmanuel Macron. The top two eurozone economies propose a 500 billion euro 'recovery fund' able to grant the countries most affected by the pandemic not loans but non-repayable aid, naturally in compliance with Community legislation.
Thus the secondary closed with clear progress, with the yield differential between the ten-year BTP and the Bund of the same duration at 216 basis points and the Italian bond rate down to 1,68%.
The higher risk appetite in Europe accentuated after the positive opening of Wall Street, which continues to rise, also thanks to the good news from the biotech company Modern (+25,5% in New York), which would have verified promising results for its coronavirus vaccine after the first tests on humans. Yesterday Jerome Powell, in an interview with CBS, said that the US economy should recover from the second half of the year while a full recovery is expected in 2021, especially if a vaccine is discovered. Powell also stressed that 'there are no limits' to what the US central bank can do to support the economic recovery. On the corporate front, the increases are generalized and involve the sectors most exposed to the effects of the pandemic, such as airlines and cruise groups. Well the banks.
The general euphoria involves the Petroleum, which finds its lifeblood in the restart for a more sustained demand. Purchases are also driven by the news on Energy Intelligence Monday according to which OPEC and its allies, the so-called OPEC+, could continue the cuts decided this spring until the end of the year. July 2020 Brent contract trades at $35,38 a barrel, up 8,86%; Texan crude, also in July 2020, moved around 32,70 dollars a barrel, +10,75%.
takes a breathgold, which is leaving the field around 1,2% and trades at 1735,20 dollars an ounce.
THEeuro-dollaro leans in favor of the single currency, with the cross at 1,089.
