The European stock markets closed positive, at session highs, driven by the optimism of Wall Street, for which the shock from Coronavirus already seems a memory. The S & P500, after the highs reached yesterday, aims to pulverize a new record, while the pharmaceutical sector raises the morale of the Nasdaq. Momenta Pharmaceuticals Inc gains almost 70% following the news that Johnson & Johnson (+0,8%) will pay approx 6,5 billion dollars for the acquisition of the company. In the sector there is also an understanding between regenerate (+ 2%) and Roche (+2% in Zurich) on a drug against Covid-19. Meanwhile Apple Lossless Audio CODEC (ALAC), (+1,2%) touches the light figure of 2 trillion of capitalization.
Business Square it closed with an increase of 1,06% and once again exceeded the psychological threshold of 20 points, lost in the last few sessions. The banks support the list. At closing Bpm bank, Mediobanca e Unicredit they are up respectively by 2,8%, 2,2% and 2,06%. He rears up Monte dei Paschi which earns almost 6%. Well Telecom +1,96%. The sales are above all sinking oil stocks: Tenaris -0,98% Saipem -0,87%. On the first day of the OPEC+ summit the Petroleum it is declining (Brent -0,7%, 45,10 dollars a barrel) held back by fears of a rather slow economic recovery in the face of a war against Covid 19 that will not be won until a safe and effective vaccine is found. Many laboratories in various countries are working on it and Cuba will also start the first phase of clinical tests of its serum on August 24, the results of which will be available in January 2021.
In the rest of Europe they close in green Frankfurt +0,74%; Paris +0,79%; Madrid +0,67%: London + 0,6%.
Wall Street, after a tepid start, is heating up as retailers Target and Lowe's performed better than expected, even though Amazon is slightly negative today. Oracle remains in the spotlight after President Donald Trump mutilated his support for the company to buy TikTok's US operations, over which Microsoft is in talks with parent company ByteDance.
The US stock market rally does not seem to have come to an end yet, despite the ongoing tensions with China and the stalemate in the aid plan. Today (tonight in Italy) the minutes of the last meeting of the Fed will be published, from which it is hoped to draw indications for the future. In any case, it is the opinion of many observers that the recovery of the US market in record time was made possible by the unprecedented fiscal and monetary stimulus of central banks and the strength of mega cap tech stocks.
On the currency market theeuro-dollar is down slightly to 1,19. The recovery of the greenback slows down gold, which trades from the top of 2000 dollars to 1960 dollars an ounce.
The Italian bond market is stable: lo spread 10-year Btp-Bund remains at 139 basis points, with declining yields on both. Indeed, the Italian 0,92-year rate closes at +0,93% (from XNUMX% yesterday).
With the end of the lockdown, foreign purchases on the tricolor card also returned. In June, the portfolio of foreign investors in Italian government bonds rose by 11,6 billion euros, after having dropped by one billion in May.
Meanwhile, today the Bundesbank in Germany placed 1,249 billion euros of securities with a thirty-year maturity, at an average rate of -0,05%, from the previous -0,06%. Demand exceeded supply by 2,9 times, against 2,4 in the previous auction.
