Shopping day in Piazza Affari, which rose by 1,08% to 21.720 basis points, new 2019 record and the highest since August 2018. Financials are appreciated, in particular Unipol +3,92% and Unicredit (+2,73%). Azimut (+2,71%) brings its earnings for the year to +65,79%. Stm's rally continues (+5,79%), closing the fourth session on the rise. More money on Pirelli (+3,4%) and in the automotive sector Cnh stands out (+2,85%).
The other European markets are picking up steam, encouraged in the morning by the positive closure of the Asian markets and, in the afternoon, by the matching start of Wall Street. Frankfurt +1,76%; Madrid +1,25%; Paris +0,84%. London +0,38% is behind, reaching its highest level since the beginning of October yesterday. The bulls are fueled by talks on duties between the US and China and the hope that trade peace is imminent, with the resumption of dialogue today in Washington. A series of macro data also partially calms fears of an economic slowdown.
The indicators of the services of China and Europe are on the rise and this time the good news also concerns Italy, which has exceeded expectations. Add to that that even Downing Street offers some hints of optimism, after Prime Minister Theresa May opened up to the possibility of a soft Brexit by seeking a compromise with the opposition leader and saying she wants to ask the EU for a postponement beyond April 12, but no later than May 22. In the US, on the other hand, the jobs created in the private sector in March, which grew at the slowest pace in 18 months, are disappointing and the employment report that the government will release on Friday is now awaited.
The data on weekly US oil inventories, unexpectedly up, is not very encouraging. Crude therefore loses momentum, after flying high: Brent -0,4%, 69,09 dollars a barrel; Wti -0,59%, 62,24 dollars a barrel. Gold tarnished slightly, moving around 1290 dollars an ounce. Euro in modest recovery against the dollar, with the exchange rate in the 1,123 area.
On the secondary side, the yield on the Italian 2,54-year bond remains stable at 255% and the spread with the Bund drops to 258 basis points, from 4 yesterday evening. Reuters, referring to XNUMX government and political sources, writes that the Italian government will in all likelihood reduce the 2019 growth target to +0,3 or +0,4%, while net borrowing will be set at 2,3% of GDP. The new targets will be contained in the Economic and Financial Document (Def), expected in the Council of Ministers on Tuesday 9 April,
In Piazza Affari, sales mainly affect utilities such as A2a -2,61%, after the publication of the results and the 2019-2023 strategic plan; Hera -1,09%. Amplifon -0,79% and Ferragamo -0,87% are down.
