Mega rebound for the European stock exchanges which, after hitting their lowest since 2016, raise their heads driven by three key factors: the restart of production in the province of Hubei, the Federal Reserve's bazooka, but above all the hopes for the Eurogroup which will meet by videoconference today, March 24, at 18.30 pm to find a strong, but above all unitary, response to the economic crisis deriving from the spread of the coronavirus in the old continent.
to 11.20 Milano marks the best performance in Europe, with the Ftse Mib up by 6,5% well above the 16 peak mark. The other price lists are also on the rise: Frankfurt (+ 6,3%), Paris (+ 5%), Madrid (+ 4,63%), London (+ 4,39%).
On the other hand, it was the Asian Stock Exchanges with the Nikkei which gained 7,13%, Hong Kong 4,43%, Shanghai 2,34%, Shenzhen 2,11%, Sydney i4,7% and the South Korea which closed up 8,6%. A few hours after the opening, the futures on Wall Street (+ 4%).
On other markets, theeuro trading at 1,082 against the dollar against 1,073 on the eve. Also recovering Petroleum, with Brent nearly 28 dollars and crude above 24,4 dollars. Down it spread between ten-year Italian and German. By mid-morning, the differential stood at 191 points (-1,1%), while the yield on the 10-year BTP was 1,586% (-2,15%).
Returning to the stock market, purchases are raining down in Milan. The best title is Exor which earns 19,2%. Boom by nexi (+ 14%) and stm (+12,69%). Double-digit increases also for Salvatore Ferragamo (+ 11%) and Moncler (+ 10,4%).
On shields Poste Italiane (+ 8,56%) and Leonardo (+8,5%). Well the oil: Eni (+ 8,49%), Saipem (+7,60%). It stands out in the banking sector Mediobanca (+7,8%), but the big names also perform very well: Intesa Sanpaolo (+ 6%), Unicredit (+ 5,8%), Bpm bank (+ 4,79%).
No Ftse Mib shares down.
A word on the macro data: as expected, there is a crisis for European manufacturing activity, affected by the lockdowns and closures established in the main countries of the old continent. In March, the PMI collapsed to a minimum of 31,4 points from 51,6 points in February 2020, marking the heaviest drop since 1998, when the indicator was born. The decrease even exceeds the consensus, equal to 38,8 points.
