European stocks closed mixed, but moved away from the lows of the session in the final thanks to the rally in oil, while Wall Street appears unstable. After a shaky start, all three of New York's major indexes are currently up slightly.
The attention of world markets is currently directed to what the president of the Fed, Jerome Powell, will say (today at 18 pm Italian time) at the Wall Street Journal's Jobs Summit. Will a strong recovery of the economy, thanks to the Biden administration's large vaccination campaign and the new $1900 trillion maxi aid plan, lead to a surge in inflation and force the central bank to change its monetary policy? Powell has already talked about it, giving reassurances, but investors are not convinced, also given the growth in bond yields. Today will be the last public speech by the central bank president before the March 16-17 policy meeting.
In the meantime, the Treasury rate currently appears to be frozen at the previous day's levels of 1,471%. The Federal Reserve's Beige Book yesterday confirmed that economic activity in the United States continues to grow at a "modest" pace in most of the country, but there is optimism over the next 6-12 months. Meanwhile, the weekly data on unemployment claims disappoints. The number of Americans filing for new benefits has soared, likely due to brutal mid-February storms in the densely populated South.
Business Square closed up 0,2% to 23.093 points, with sales of technology, fashion and banks offset by purchases of utilities and oil.
Tenaris leads the way with an increase of 3,55%. It finally bounces Saipem, +3,49% and also Eni it shows an increase of 2,24%. Among the best blue chips of the day Enel, +2,85%, after a series of negative performances. Utility in dusting with Ivy +1,79% and Italgas +1,6%, the latter in the wake of the awarding of the tender for Atem Torino 1.
Telecom (+2,58%) is supported by the positive assessments of Kepler analysts following the 2021-23 plan.
Sales penalize stm, -3,59%, down like the whole semiconductor sector at European level.
Down Moncler -2,24%.
After the recent gains it deflates Unicredit -1,49%. There will be 13 new directors and among these the board of directors has proposed Pietro Carlo Padoan as chairman and Andrea Orcel as managing director. From the communications released by Consob on 3 March 2021, we also learn that on 23 February the German giant Allianz increased its stake in the capital of the banking group from 1,132% to 1,255%.
Down Bpm bank -0,95% and Bper -1,05%. New seat in red for Amplifon -1,62%.
On the secondary salt lo spread to 105 basis points (+0,61%) and the yield on the ten-year BTP which grows to +0,74%.
In the rest of Europe Frankfurt loses 0,18%; Amsterdam -0,86%; London -0,35%. Flat Paris, in progress Madrid .
Oil gallops on the day of the OPEC+ meeting. The rally was triggered by Saudi Energy Minister Prince Abdulaziz bin Salman's call for caution over cutting cuts. According to press leaks, the participants in the meeting have decided not to increase production by 500.000 barrels a day in April, which will therefore remain unchanged. Brent gains more than 5% and trades at 67 dollars a barrel; similar progress for Texan crude, which moves above 35 dollars.
On the currency market, the euro-dollar exchange rate is around 1,2.
On the subject of vaccines and the war on vaccines, the press news (first published by the Financial Times) was recorded today that Italy and the European Commission have blocked the shipment to Australia of 250.000 doses of AstraZeneca vaccines produced at the Anagni plant.
The Italian executive rejected the export request received from the pharmaceutical group with the support of the European Commission, Reuters sources say. Meanwhile, the EMA, the European pharmaceutical authority, announces that it has started the evaluation of the Russian vaccine Sputnik V.
