The spread soars, but Piazza Affari closes flat (-0,02%, 21.719 points) a sluggish session, with few trading and the banks closed for Liberation Day. Juventus raises its head: +8,2%, while oil stocks are weak. The other European stock exchanges were mixed, following the mixed performance of Wall Street in the afternoon, where Microsoft (+3,8%) and Facebook (+6,7%) are flying after the accounts, but 3M collapses (-10%) , the well-known manufacturer of post-its. With closed markets, Amazon (+0,5%) will reveal the quarterly.
Frankfurt loses 0,22%; suffer Deutsche Bank (-1,8% ) and Commerzbank (-2,69%) after the stop the talks for any wedding. Down London -0,5% and Paris -0,33%. Fractional earnings for Madrid +0,52% and Zurich +0,4%.
The euro remains flat against the dollar, in the 1,14 area. After yesterday's disappointment with the Ifo index on German business confidence, today the ECB writes in the Economic Bulletin that growth in the euro area will remain sluggish and the need for a large degree of monetary accommodation remains. Furthermore, the stability of the euro area is at risk due to the failure to recover the structural deficit of some countries, including Italy. Even the elections in Spain, next Sunday, are an unknown factor that weighs on the prospects of the single currency.
In this climate, the Italian paper pays its price, but does not lose its bearings in anticipation of the S&P rating scheduled for tomorrow. Currently the rating is 'BBB', two steps above the 'non investment grade' level, with an outlook that changed from stable to negative in October. The 2,69-year yield rises to XNUMX% and the spread with the Bund widens to 270.30 basis points (+1,92%).
Signs of a global slowdown also penalized Asian stock markets this morning. Tokyo finally closed up (+0,48%) thanks to the Japanese Central Bank which will keep its expansionary monetary policy unchanged for at least another year. A choice connected to downward forecasts and the failure to achieve inflation targets. Furthermore South Korea estimates a contraction in the first quarter and this depressed Shanghai (-2,4%) and Shenzen (-3,4%). Investors are waiting for the US GDP for the first quarter to be released tomorrow, to see if the US economy continues to be stronger than that of other countries.
Gold tries to regain its role of safe haven and rises by 0,22% to 1278,13 dollars an ounce. Oil travels at two speeds. Brent appreciates by 0,56%, to 74,99 dollars a barrel; while in New York the WTI is down by 0,11% to 65,82 dollars a barrel.
In Piazza Affari, oil stocks are confirmed as weak, in particular Tenaris -2,12%. Stm loses share, -1,6%, after yesterday's rally. Buzzi does the same, -0,94%. Volatile Fiat, -0,81%, following the opening of the CEO of Peugeot to possible extraordinary operations even if there are no particular groups in the crosshairs.
Juventus aside, purchases reward Banca Generali +2,45% and Azimut +2%. In fact, President Giuliani confirmed that he wants to reach or exceed 300 million in profits in 2019. Banks are closing in random order. Good Bper +1,63%; Unicredit sells 0,45%. The bank skidded in the afternoon after the declarations of Lyxor asset management, a shareholder of Commerzbank, which opened the hypothesis of involving the Italian bank or Bnp Paribas in a merger with the German bank given the shipwreck of the engagement with Deutsche Bank.
