The European stock exchanges start the week with the wind in their sails on a day without two important points of reference: the Chinese market is closed and will remain so until Wednesday, while Wall Street is at a standstill on Presidents' Day.
However, European moods are lifted by the generalized drop in infections from Covid-19, despite the spread of variants, and the Japanese market, which has reached new highs since 1990 after the good data on GDP, which rose in the fourth quarter of the last year by 12,7%. On the shields also the Petroleum which is on the rise, due to the frost that is affecting the northern hemisphere of the planet: the Wti, contracted for delivery in March, rises by 1,6% to 60,44 dollars a barrel, while Brent gains 1,14 .63,14% to XNUMX dollars a barrel. On the front of you change, the euro changed hands at 1,2140 dollars, strengthening from last Friday's 1,2120.
As regards today's market movers, according to Eurostat data, in December industrial production in the euro area fell by 1,6% and in the EU by 1,2% compared to November (+2,6% and +2,3% respectively). Compared to December 2019, the decrease is 0,8% and 0,4%. The annual average for 2020 compared to 2019 recorded a decrease of 8,7% in the euro area and 8% in the EU.
In this context Business Square celebrates the new government led by Mario Draghi, marking an increase of 0,89% to 23.614 basis points, while the spread it continues to fall, reaching 90 basis points (-1,59%), with the yield on ten-year BTPs rising very slightly to 0,51%. The Premier and the ministers have sworn in on Saturday at the Quirinale, while the vote of confidence in Parliament is expected on Wednesday. “Although the risk to Italy's public finances remains high, we believe that Draghi's appointment as prime minister, his international credibility and the ECB's continued support for purchases will drastically improve Italy's risk profile and could shift capital on Italy and the European Union”, explained Luigi De Bellis, co-head of the research office of Equita Sim, underlining that Draghi's leadership will make relations with the ECB and the EU easier and closer. “Since the mandate to form a new government last February 3 – continued De Bellis – the BTP-Bund spread has reduced by around 25 basis points (from 113 basis points to 90 – to the lowest level in the last 5 years, with the BTP at 0,48%), but we see room for a further reduction”.
The other European price lists are also galloping with Madrid leading the way (+1,43%) followed by London (+ 1,43%), Paris (+ 1,07%) and Amsterdam (+0,7%). More shy Frankfurt, which rose by 0,3% just over an hour after the start of trading.
Returning to Milan, the scene today is all about oil stocks. At the top of the Ftse Mib there are Tenaris (+ 6%) and Saipem (+4,06%), while Eni regains the threshold of 9 euros per share, rising by 2,3% pending the accounts (and decisions on the dividend) which will be published on Thursday. Eyes also on Poste Italiane which meets the Board of Directors on Tuesday to approve the 2020 budget.
Also shop on Finecobank (+ 2,19%) and Leonardo (+1,95%) which last week consolidated its presence in the airport sector by signing two important contracts with SEA and SACBO, respectively the management company of the international airports of Milan Malpensa and Milan Bergamo, the second and third busiest airports in Italy.
Positive performance also for big banks: Bpm bank salt of 1%, Intesa Sanpaolo earns 1,55% after the accounts of Eurizon which closed 2020 with a consolidated net profit of 512,9 million euros and a margin from commissions of 835,4 million. Raise the slope too Unicredit (+1,58%), after the setback last week, when the institute published the worst-than-expected 2020 accounts due to a redundancy of 2,8 billion euros.
Counter the utilities: Enel (+ 0,07%), Ivy (+ 0,38%), That (-0,39%). On the downside, Interpump (-1,81%), Diasorin (-0,7%), Amplifon (-0,5%) and Prysmian (-0,3%) remain at a standstill.
Outside the Ftse Mib, the performance of Pierrel (+20,7%), a global supplier to the pharmaceutical and life sciences industry specializing in research and development, contract pharmaceutical manufacturing of medicines and the development, registration and licensing of new drugs or formulations.
A look at the near future: news is expected from the US on the possible introduction of new stimulus measures by the Biden administration, while on Wednesday the Federal Reserve will publish the minutes of the last meeting. The first estimates of the IHS-Markit PMI indices for February will instead be released on Friday.
