Despite Russian nuclear threats and banks still walking a razor's edge, European markets today find the strength to rebound and close the session on a positive note. The discounted prices of some stocks and some positive news, such as the growth in German business confidence (the Ifo index rose surprisingly in March to 93,3 points from 91,1 in February and expectations to 90,9 points) and the fact that, in the USA, First Citizens (+ 5,09%) will buy the deposits and investments of the bankrupt Svb by the Federal Deposit Insurance Corporation.
However, the climate remains variable and Wall Street, after a tuned start it now moves countered. The Nasdaq loses 0,3%, though Tesla it appreciates more than 2%, as analysts expect a record number of shipments in the first quarter.
Green wave in Europe
Milano rose 1,2% to 26.206 basis points, with industrial stocks. The green wave on European markets starts from Zurich +1,46%, where Credit Suisse and the buyer ubs show progress of 0,71% and 0,81% respectively, on the day when the president of the Saudi National Bank has resigned (CS shareholder), whose comments triggered the crisis in the European banking sector. To give tone to the Swiss price list is above all Novartis (+7,88%), thanks to the successes of its breast cancer drug which has been shown to reduce the risk of recurrence in an early stage disease.
In the rest of Europe they earn more than one percentage point Madrid +1,43% and Frankfurt, +1,16%. The German Deutsche Bank it appreciates by 4,14%, after last Friday's 8,5% plunge. Following Paris + 0,9% London + 0,89% Amsterdam + 0,56%.
Banks are generally positive, but cautious. In an interview with a German newspaper Jose Manuel Campa, president of the European Banking Authority (EBA), said that the sector remains very vulnerable after the measures taken to stem the consequences of the crises of Silicon Valley Bank and Credit Suisse. On the other hand, rising interest rates continue to weigh on financial markets and the EBA is monitoring unrealized losses on banks' balance sheets.
Oil bounces
Il Petroleum rediscovers polish and Brent and Wti futures rise by around 1,5%. Second Reuters the black gold benefits from Putin's plans to place tactical nuclear weapons in Belarus.
"The move represents one of Russia's clearest signals on nuclear power and a warning to NATO for the military support offered to Ukraine, which, in response, has requested a meeting of the UN Security Council". NATO has criticized Putin for what he called "dangerous and irresponsible" nuclear rhetoric.
Salt also the gas price, over 42,3 euros per MWh. On the currency market the euro trade in slight progress against the dollar, around 1,078.
Piazza Affari, industry doing well and cautious banks. In red Diasorin and Mps
The Borsa Italiana website went haywire in the final, but industrial stocks starting from were well bought nearing closing Saipem + 3,62% Iveco + 3,34% Prysmian + 2,75% Leonardo +2,86%. In the pharmaceutical sector it advances Recordati +2,94%. Among the utilities they stand out Terna +2,18% and Italgas +2,78%. The blue chips in red are few and the black jersey goes to Diasorin -3,97%, which pays tribute to the forecasts for the current year after the presentation of the 2022 accounts.
Banks are mixed: it's down sharply too mps, -1,81%, a cautious but positive banking sector. The decline in Monte Paschi seems to be attributable to the greater volatility of the stock and does not seem linked to the fact that yesterday the Ministry of the Economy filed the list of candidates for the renewal of the board of directors, confirming the CEO Luigi Lovaglio and appointing Nicola Maione to the presidency .
They earn Unicredit + 1,23% Understanding +0,38%. In managed savings, it shines Finecobank +1,32%, with Morgan Stanley starting hedging the stock, citing attractive stock valuations and earnings growth expectations for the next few years thanks to the bank's hybrid model in an environment where the peak of rate increase.
In the prize car Ferrari, +1,27%, with the EU planning to exempt e-fueled cars from the ban on new combustion engine vehicles from 2035.
Spreads down
The session penalizes government bonds in the euro area a little, which see yields rising slightly. The ten-year BTP at the close it is indicated at +3,95 (from 3,9% on Friday). The Bund is worse at +2,18% (from 2,08%).
