The real Easter surprise is about the Bitcoin. The cryptocurrency remained above $30 this morning, for the first time since last June. Since January XNUMXst, heedless of scandals and crack, Bitcoin is up 82%, much more than gold (+9%), the safe haven par excellence. Even so speculation bets that the rate hike trend is winding down. But, these days, it is very risky to engage in strategic bets. He knows something Magnus Billing, the president of the most important Swedish pension fund, fired this morning for the losses suffered on the shares of US banks in crisis: 2 billion dollars. A news that coincides with the start of the process of the Swiss Parliament for the rescue of the Credit Suisse.
Def in the Council of Ministers
The Italian government today brings to the Council of Ministers the Economic and Financial Document (Def) in which he intends to cut the economic growth estimates for 2024, which are weighed down by the negative impact of the rate increase and the difficulties in spending the funds of the Pnrr.
The Treasury expects GDP to grow by 1,4% next year, down from the 1,9% projection made in November. But the GDP target for 2023 should be raised to 1% from 0,6%: behind the revision there is the better than expected performance of the services sector, in turn due to the mild climate which favored the tourism.
Piazza Affari rises, eyes on inflation in the USA and Germany
In this climate, Piazza Affari, in the recovery after the long Easter weekend, allows itself a sprint start with the money pouring into all sectors. Around 12 Milano it rises by 0,84% to 27.441 points. Good too other lists of the Eurozone.
Among the most awaited appointments by investors this week, there are data on theMarch inflation in the United States, expected for tomorrow, and in Germany, to be published on Thursday.
Oil prices rise, Saipem leads the Ftse Mib
Among other things, the new rise in the Oil prices on expectations that inventories in the United States, the world's largest consumer of crude oil, are expected to fall and on signs that demand in emerging markets, starting with India, will remain positive. Saipem, the best stock in the main list, jumped by a good 3% after Berenberg raised the target price to 2 euros from the previous 1,45. Up too Eni and Tenaris.
Piazza Affari: the car is racing, the other titles highlighted
The car sector is well collected: salt stellantis up 2,5%, also in anticipation of the record dividend that will be distributed on April 24th: just over 8% at today's prices. They also advance Cnh (+ 2,8%) and Iveco (+2%). The European sector index jumps by 0,7%. Well too Pirelli (+2,2%). Banks also rose, with the big Unicredit and Intesa up by 0,9% and 0,55% respectively.
Enel +0,7% reached an agreement with the Chinese CSGI for the sale of two assets in Peru, for a total value of 2,9 billion dollars.
Bounces 2,5% Diasorin. The Equita broker reports a roadshow with top management "from which overall positive messages about the business emerged".
A special note concerns the Lazio (+8%) exalted by the victory over Juventus which opens the doors of the Champions League to the club. However, the title of the Biancoceleste club comes from a sharp drop last Thursday following the news of searches by the Guardia di Finanza in the headquarters of the football team as part of an investigation into the buying and selling of players.
Among the minors also worth mentioning San Lorenzo (+2,8%) after the announcement of the non-binding Memorandum of Understanding with Mike Simpson to evaluate the entry of the company into the group Simpson Marine and other related companies.
Wall Street futures
The index future S & P500 Wall Street is up slightly. US jobs data released on Friday raises the chances of a quarter-point hike in interest rates by the Federal Reserve.
Il Treasury Notes a ten-year trade at 3,39%, down two basis points. Bund at 2,23%, +5 basis points. construction sector to 4,09%, +8 basis points. Euro up on the dollar to 1,088.
