“Enough of uncivilized warfare,” Joe Biden urged in Inauguration Day speech. Then he moved from words to deeds. The President has signed 17 executive orders that mark a change of pace with respect to the Trump administration. They concern the fight against the pandemic, climate change, immigration and the obligation to wear a mask in areas of federal jurisdiction. Stop the construction of the wall with Mexico, canceled the construction of the Keystone XL pipeline and there is the return of the USA to the Paris climate agreement. But what has exploded the euphoria on Wall Street is the wait for the smooth approval of the President's 1.900 trillion dollar aid plan. Trump left the scene, the tones of the Republicans have changed: Senate leader Mitch McConnell said he can't wait to work together with the President with whom he shared 46 years of parliamentary activity.
INAUGURATION DAY HAS NEVER BEEN SO GOOD SINCE 1937
The US stock markets recorded the largest rise ever seen on the day of a president's inauguration since 1937: S&P 500 +1,4%, Dow Jones +0,83%, Nasdaq +2%. Indexes are at their all-time highs.
NETFLIX GOES INTO ORBIT
Fly Netflix (+17%): thanks to the increase in subscribers, the streaming giant will no longer have to resort to issuing bonds to finance productions.
Morgan Stanley, which ended the fourth quarter of 2020 with profits of $3,39 billion, confirmed plans to repurchase 10 billion shares this year.
Enthusiasm has infected Asia, chasing new records.
THE BOJ RAISES ITS ESTIMATIONS ON GDP
The MSCI Asia Pacific index rises to the highest levels. The CSI 300 index of the Shanghai and Shenzen stock exchanges is up 2%. Hong Kong's Hang Seng broke the 30-point barrier.
Tokyo's Nikkei is up 0,8% as the central bank governor's press conference begins. The Bank of Japan left the monetary policy procedures in force and revised the forecast on GDP for the next fiscal year to +3,9%, from +3,6%.
Brent oil is down 0,3% to 55,9 dollars a barrel, penalized by indications on crude stocks in the United States: the American Petroleum Institute estimates them up by a couple of million barrels.
The euro pushes the dollar down to 1,213. The single currency also weakens against the pound, which reached its highest level since May 2020 in the session (0,886 at the moment). Gold is back to being noticed, at 1.874 dollars an ounce, +1,7% yesterday at the close.
COUNT TRY TO STRENGTHEN THE MAJORITY
After congratulating Biden, Prime Minister Giuseppe Conte went to Colle for an interim conversation with the President of the Republic, Sergio Mattarella, to whom he communicated his willingness to strengthen the majority with the creation of a new centrist and pro-European group in the Senate .
CARS LEAD EUROPE: DAIMLER +4,5%. TODAY THE ECB
Not even the time to absorb the expansion of Stellantis (+10% approximately in the first three days of listing) and here is the response of the German battleship entrusted to Daimler: +4,51% on the day of the Eqa test in the center of Immendigen in Baden Wuttemberg where the electric thrusters of the house of the Star take shape. In short, a flare-up of the real economy, which pushes the automotive sector up by 2,5% on the eve of the meeting of the ECB directorate.
MILAN +0,9% LUXURY STARTS AGAIN: BURBERRY AND MONCLER AT THE TOP
Milan gains 0,93% and does better than the other European lists, in any case in positive territory despite the pressure of the pandemic: Frankfurt +0,81%; Paris +0,53%; London +0,44%. Flat Madrid (+0,06%).
To support the price lists contribute luxury and technology. The recovery of Chinese demand favors the recovery of Richemont: +2,80% after a negative first part of the year. Burberry flies (+3,86%), supported by sales in Shanghai and Beijing. On the rise in Piazza Affari Moncler: +2,14%.
THE EUROPEAN TECH AT THE HIGHEST EVER: STM +2,2%
Asml (+3%) stands out in Amsterdam, a major supplier of Samsung and Taiwan Semiconductor, at all-time highs. The Dutch company is a world leader in photolithography systems for the semiconductor industry and manufacturer of integrated circuit machinery and has shredded expectations by providing indications on the performance of the first quarter of 2021 well beyond analysts' expectations. Stm (+2,26%) and Infineon (+2,11%) also rose sharply.
The Stoxx index of the European technology sector reaches its highest levels since the now distant 2001.
THE BTP SUFFERS: SPREAD TO 118
The BTP closed in negative territory, weighed down by the uncertainties related to the political situation. In closing, the Italy-Germany yield differential on the ten-year segment is 118 basis points, from 114 on the eve. The 0,62-year rate stood at 0,58%, after closing at XNUMX% the previous session.
A2A +3%: 16 BILLION INVESTMENTS. FOR AKROS IT'S BUY
Good reception of the market to the industrial plan to 2030 of A2A (+3%), which expects operating profit (Ebitda) to more than double to 2,5 billion euros at the end of the period. The utility also expects minimum dividends to grow by an average of 3% per year, with 16 billion euros of investments, of which 10 billion in energy transition.
Banca Akros assigned the stock a buy rating and a target price of 1,6 euro per share. Also for Equita sim the rating is buy with a target price of 1,55 euro per share. Experts judge the Plan's medium-term objectives to be better than expected.
LEONARDO RUNS, UNICREDIT ON THE SCUDI
On the main basket of Piazza Affari stands Leonardo (+4,37%), who looks with interest at the agenda of the new US President.
Still in evidence Unicredit (+4,15%), while the maneuvers for the succession of Mustier are in full swing. A solution for the Bank, which benefits from the promotion of Société Générale to hold da sell, could be found by 11 February, the day on which the board of directors will meet to approve the 2020 accounts. I'm the former number one in the running of the Ubs investment bank, Andrea Orcel, the general manager of Fincantieri and former CEO of Bnl and Cdp Fabio Gallia and the co-chief operating officer of Unicredit itself, Carlo Vivaldi.
AGREEMENT BETWEEN BPM SHAREHOLDERS, POSTE SHOPPING IN CHINA
Among the financials, Generali (+2,1%) and Mediobanca (+1,65%) also shine. Bank Bpm +1,5%. Three large private shareholders – the entrepreneurs Girondi, Veronesi and Tommasi – who hold shares totaling 6,68%, have formed a consultation pact which could be increased up to 9,9%.
Poste Italiane did well (+1,03%): the group announced that it recorded a 40% increase in digital payments over the Christmas period compared to 2019, with a peak of +70% in e-commerce transactions. Furthermore, a binding framework agreement was signed for the strengthening of the partnership in the e-commerce market between Italy and China which provides for the acquisition of 51% of the capital of Sengi Express.
STELLANTIS +0,53%. THE CO-CEO OF PIRELLI RESIGNS
New rise, the third in three days, for Stellantis (+0,53%). Pirelli climbs (+1,93%), after the general manager and co-CEO Angelos Papadimitriou leaves his office.
TELECOM BOUNCES, ATLANTIA SALTS
Telecom rebounds (+2,2%), after three consecutive sessions of substantial decreases on the day in which the first board of the year is held which, among other things, took stock of the progress of the various dossiers, from constitution of FiberCop to the single network, passing through the launch of the new data center company.
Atlantic +0,5%. Negotiations with the consortium of investors led by CDP are dragging on, according to three sources, and it is probable that the timing of a binding offer for the subsidiary Autostrade will slip beyond January.
THE GOLD OF FOPE SHINES
Lastly, Fope's advance (+3,92%) on the Aim should be noted. The Vicenza goldsmith closed 2020 with consolidated net revenues of 26 million euros, above estimates.
