Change of mood on the markets, in the wake of the easing of restrictions in China to contain the Covid-19 epidemic and pending the green light for the stimulus plan for the economy by the US Congress, while the Fed yesterday decided on unlimited Qe. The European stock markets closed an effervescent session, after the excellent performance of the Asian markets, while Wall Street appears euphoric (Dow Jones +9,7%) in the aftermath of huge losses.
Piazza Affari rises by 8,93% to 16.948 basis points, with almost all the blue chips on the rise. Frankfurt is in the pink jersey, +11,40%, but the climate is similar to Paris +8,39%, Madrid +8,33%, London +9,35%, Zurich +7,86%.
On the market, after the Fed's move, the hunger for dollars decreases a bit and the euro recovers 1,08 against the greenback (currently the cross is 1,078). Gold is stepping on the accelerator, which flies to 1655,20 dollars an ounce. Goldman Sachs recommends buying the ingot in the belief that it will be able to reach higher peaks (target 1800 dollars an ounce).
The session is tuned for oil, also supported by statements from the United States on a possible US-Saudi Arabia deal. The idea would be to replace OPEC+, or the agreement between OPEC and Russia, with production agreements between the USA and Saudi Arabia. Brent gains 1,33% and rises to 27,39 dollars a barrel, while American crude marks +1,2%, 23,64 dollars a barrel.
In short, a 360-degree improvement, despite the fact that the new coronavirus pandemic shows no sign of abating and the WHO fears that the United States will be the next epicenter of the infections. But Donald Trump is worried above all of the economic repercussions and does not rule out quickly loosening the control rules, while inviting Congress to approve the decided stimulus measures by today. A possibility confirmed by the speaker Nancy Pelosi.
The massive dose of injections of liquidity and stimuli restores calm also to Piazza Affari, which is celebrating i timid signs of a slowdown in the curve of infections of the last few days, awaiting today's Civil Protection press conference which hopefully will confirm this trend
On the main list, more than ten titles recorded a double-digit increase. Starting from Exor +21,61%, which returns to portfolios after being sold with both hands in the last few sessions "also on fears related to possible problems in the negotiation to sell PartnerRe to the French Covea, fears that are disappearing today", observes a trader speaking with Reuters.
Progress Nexi +17,08%; Eni +14,93%; Buzzi +14,69%; Leonardo +14,38%; Stm +14,44%; Mediobanca +13,91%; Moncler +13,46%; Banca Mediolanum +12,09%; Fiat +12,87. The Italian-American company confirms that it will produce one million masks protective caps a month to do its part in the fight against the coronavirus, announcing that it will distribute them to emergency services in North America. The big banks did well: Unicredit +9,99%; Understanding +9,3%. Only one stock is in red: Diasorin -1,37%.
Out of the main basket Mediaset gains 2,94%, after the subsidiary Mediaset Espana announced yesterday that it had increased to 9,75% of ProsiebenSat1, bringing the group's overall share to 20% of the German broadcaster.
Spread down to 190 basis points (-2,16%), with the Italian 1,57-year yield at XNUMX%. Yesterday the Ecofin confirmed the suspension of the stability pact, tonight the decisions of the Eurogroup are awaited, even if there does not seem to be an agreement on the role of the Mes and that the discussion can be postponed to Thursday, at the meeting of the heads of state and of Government.
