Piazza Affari ends a session of profits in Europe in the dark, conditioned by the negative start of Wall Street after the strong gains on the eve. Concerns about the growth of infections and the slow-moving vaccination campaign are also rekindling in Italy, while new restrictions are affecting large areas of the country. The measures of the Dpcm will be presented shortly, the first of the Draghi era, which will come into force on March 6 and will be valid until April 6, with rules and bans also at Easter and Easter Monday. The Ftse Mib drops 0,78%, but maintains its share of 23 thousand points. On the secondary, however, the spread rises above the threshold of one hundred: 103 basis points, with the BTP rate at 0,68%.
Currently sales prevail on Wall Street, with disappointing macro data, after the session on the first day of the month in which the S&P 500 recorded the largest rise since June with the go-ahead for the Johnson&Johnson vaccine (which will also be produced by Merck) and the green light from the House at a $1,9 billion coronavirus relief package. The Senate will start discussions on the stimulus this week and the Democrats want to implement a maneuver known as "reconciliation", for the approval of the bill by a simple majority. On the one hand, the new injection of liquidity satisfies the markets, on the other it rekindles fears about inflation and keeps attention high on government bonds whose yield, for now, appears to be under control after last week's flare-up, when the rate of XNUMX-year Treasuries had risen to its highest level in a year.
The February inflation figure for the eurozone holds no big surprises. According to Eurostat it is stable compared to January at 0,9%. Furthermore, the ECB continues to send reassuring messages on its monetary policy. According to board member Fabio Panetta, the ECB should increase bond purchases or even increase the entire budget allocated to such purchases if necessary to keep yields low. On the currency market the euro appears to be slightly recovering against the dollar, but always floats in area 1,2.
After yesterday's wave of purchases, the other lists of the Old Continent are contrasted: Amsterdam and Madrid drop 0,2%, while Frankfurt rises by 0,16%, Paris +0,3%, London +0,38%. The oil majors lose, while oil travels slowly with Brent losing 0,1% and trading at 63,62 dollars a barrel, while Texan crude is colorless. In the sector, the focus is on the OPEC+ meeting which could increase production from April. The group is set to meet on Thursday, and could discuss putting up to 1,5 million barrels of oil a day on the market. "There are signs that the physical market isn't as tight as the futures market would suggest," he said. reads in a note from Ing Economics.
In Piazza Affari, the shares of the sector are mixed, also in light of the 2020 accounts and the 2021 forecasts presented in recent days: Tenaris (+1,63%) is the best blue chip on the list, while Saipem (-2,64%) it is still among the worst today. Eni loses 0,72%.
Bringing up the rear of the Ftse Mib is Atlantia (-3,69%) which, after yesterday's exploits, pays a pawn on the uncertainties about the future of Aspi, after the no to the offer from Cdp-Blackstone-Macquarie, judged too low and in view of a resumption of negotiations to raise the proposal. Letter also for Stm -2,16%. Utilities close in the red starting with Terna -2,14%; Enel -1,82%. Purchases reward Nexi +1,21%; Interpump +1,19%; Diasorin +0,79%.
The banks are in no particular order. Good Banco Bpm +0,79%; Mediobanca decreased -1,03%. Outside the main basket, Creval closes with a timid 0,12% increase. According to the latest communications, Credit Agricole Italia has bought another 1,14% of the capital in blocks. The potential stake held in the bank's shareholding is therefore now 17,7%.
In the automotive sector Stellantis limits damage to 0,22%, after the data on registrations in Italy in February, down by 12,34% to 142.998 vehicles and a market share of 41,3%. According to Bestinver, “this is negative news as the market fell in February and Stellantis lost market share in France and, to a lesser extent, also in Italy”. The 2020 results of the giant born from the merger between Peugeot and Fiat Chrysler are expected tomorrow.
