Le European stock exchanges they proceed with caution on Women's Day, reflecting on the ECB's announcement regarding a possible rate cut in June and awaiting data on the US labor market. After the recent records reached both in the markets of the Old Continent and on Wall Street, the indices remain around parity at mid-session, but in no particular order: Milan records a +0,15%, Paris a +0,29% where Vivendi reduces the decline (now -0,63%). Also Madrid (+ 0,19%) and Amsterdam (+0,2%) are above parity while Frankfurt e London show a slight decline, of -0,02% and 0,25% respectively. Wall Street futures are weak, around parity, awaiting employment data.
The news of growth stable of European GDP in the fourth quarter of 2023, thus avoiding a “technical” recession, provided some support. This data, compared to the previous 0% recorded in the third quarter, confirmed a stabilization of the Eurozone economy.
Iveco rally on Piazza Affari, oil stocks doing well
To support Milan the forward sprint of Iveco Group (+5,56%), reported by rumors regarding Leonardo's interest in the company's Defense division. Other titles highlighted are those of Telecom Italy (+2,88%), which recovers but not enough after thud recorded in the previous session following the presentation of the new industrial plan and the devaluation of the share by Vivendi. Now Consob is called into question. The authority, under the guidance of Paolo Savona, will have to evaluate whether everything took place regularly, even in a highly speculative context, or whether there were some unclear maneuvers. While the black jersey goes to Azimuth, at the bottom of the list with a loss of 7,08% after the presentation of the rather disappointing 2023 accounts. Bad too Juventus FC (-0,13%) sets the details of thecapital increase of 200 million euros, including the premium, approved by the shareholders' meeting last November. Unicredit is also down (-1,5%), weighing heavily 2,8 million fine from the Privacy Guarantor.
Purchases of oil stocks are reduced, thanks to the drop in the price of crude oil: Saipem (+2,51%) ed Eni (+0,68%) which announced the discovery of an offshore hydrocarbon field (light oil, gas and condensates) in Côte d'Ivoire, in the second most important discovery after the Beleine field. Good performance Amplifon (+2,32%) fresh accounts. Also shop on Mayor (+1,78%) following an order worth over 1 billion in Algeria.
Spreads at minimums, the euro-dollar rebound continues
Lo spread between BTPs and Bunds it stands at 131 basis points, showing a slight increase compared to the 130 points of the previous closing but remaining close to the two-year lows. The yield on the 3,59-year BTP stood at 3,6%, slightly decreasing compared to the XNUMX% of the previous closing.
In the currency market, theeuro it is in slight drop, equal to 1,092 dollars. The price of Petroleum is falling: (WTI -0,52% to 78,5 dollars a barrel, Brent -.41% to 82,62 dollars. While the gas accelerates on the Amsterdam platform (+2,53% to 26,65 euros per MWh).
Asia: Tokyo closes higher but held back by the yen
La Tokyo Stock Exchange recorded a modest increase of 0,23% in the Nikkei index and 0,3% in the Topix index, supported by positive developments on Wall Street but held back by the stronger yen.
Chinese markets, on the other hand, ended the day with some volatility, but managed to finish in positive territory thanks to a rally towards the end of the session. The Shanghai Composite index gained 0,61%, while Shenzhen +1,07%.
In China, positive signals also come from the data for the first two months of 2024: the surplus rose to 125,16 billion dollars compared to 103,8 billion the previous year. Exports recorded growth of 7,1%, beating forecasts of 1,9%, while imports increased by 3,5% versus the expected +1,5%.
