The rises in oil prices and the rush of luxury are not enough to lift the mood of the European stock exchanges which close a session uncertainly still dominated by concern for the progress of the vaccination campaigns after the suspension of the J&J serum in the USA. "The EMA is accelerating the evaluation of the Johnson & Johnson vaccine and currently expects to issue a recommendation next week", the Agency says in a statement, underlining that "the benefits of the vaccine in preventing Covid-19 outweigh the risks of the effects collateral".
On the other hand, Wall Street continues to rise, driven by the quarterly reports of the big banks, on the day of Coinbase's debut on the Nasdaq.
THE US STOCK
From the USA came the news of the death at the age of 82 of Bernie Madoff, the financier who built the largest Ponzi scheme in history, defrauding over 37 thousand people in 136 countries for an amount equal to about 65 billion dollars. Madoff passed away of natural causes, reports theAssociated Press, in the federal prison in Butner, North Carolina, where he was serving a 150-year sentence.
On Wall Street, while awaiting Governor Jerome Powell's speech at the Economic Club in Washington, the quarterly season. Breaking the ice were JP Morgan, Goldman Sachs and Wells Fargo, three bigwigs in the banking sector who today released their first quarter results.
After a colorless opening, the Dow Jones lengthen the pace, driven precisely by energy stocks and by Goldman Sachs, which gained more than 5% after closing the first three months of the year with profits up 498% and revenues more than doubling compared to last year's first quarter. Travel downwards (-0,34%) instead JP Morgandespite the quarter beating expectations with earnings up 399% to $14,3 billion, $4,5 a share, and revenues up 14% to $33,119 billion. Count above the estimates also for Wells Fargo, which closed the first quarter of 2021 with profits of 4,742 billion dollars against 653 million last year and a turnover of 18,063 billion (from 17,717).
Above par lo S & P 500 (+0,07%) which updated its intraday record, thanks to the performance of Occidental Petroleum (+ 4,6%), Halliburton (+ 3,8%) and Diamondback energy (+ 3,3%).
THE DEBUT OF COINBASE AND THE RECORD OF BITCOIN
Turn the negative instead Nasdaq (-0,36%), on the day of the debut of Coinbase, the group that controls the world's most used cryptocurrency exchange platform. The stock, whose quotation takes place via "direct listing", seems to be on its way to a record opening: 360 dollars per share against a reference price of 250 dollars. The capitalization could therefore reach 94 billion dollars, an implicit value more than three times higher than that of the Nasdaq exchange operator.
The Coinbase listing euphoria also involves the bitcoin, which updated its all-time high again during the day, touching $64.829. Other cryptocurrencies are also on the rise with Ether which updated its record: the 17% increase in the last week brought it up to $2.397.
ECB: EUROZONE GDP +5% WITH EU NEXT GENERATION
"It is of paramount importance that the Next Generation EU becomes operational without delay, as it would allow member states to restart their economies, strengthen their resilience and fuel innovation," said ECB Vice-President Luis de Guindos.
According to the Eurotower, the plan could have an impact equal to 5% of the GDP of the Eurozone. To make this happen, however, "it is very important that everyone's concern is to proceed as quickly as possible with vaccination campaigns throughout the world, not in just one region, because the world will not be safe until vaccinations will not have been done globally ”. This was stated by the president of the ECB, Christine Lagarde, speaking at a webinar organized by Reuters.
In this context it is spread it stands at 103 basis points with the yield on the Italian ten-year bond falling to 0,73% from 0,76% on the previous day.
THE EUROPEAN EXCHANGES
Business Square closed the session down by 0,1% to 24,574 points despite the exploits of oil stocks. Similar trend (-0,14%) for Frankfurt, while Paris e Madrid they closed well intonation, scoring respectively +0,42% and +0,76%. Outside the Union, London continues to celebrate the reopenings, closing the day with an increase of 0,74%.
LUXURY AND OIL
Two sectors are taking over the European scene today. On the one hand, there is luxury, which is looking more courageously towards recovery after i accounts records di lvmh. The shares of the French giant gained 2,86%, exceeding the 300 billion capitalization mark for the first time. The whole sector benefits from it and in Milan purchases pay off Moncler (+ 0,76%), Tod’s (+ 2%), Salvatore Ferragamo (+ 2,5%) and Brunello Cucinelli (+ 1,84%).
The oil companies are doing even better, with Tenaris which flies to the top of the Ftse Mib with an increase of 4,83%. In great dust too Eni (2,56%) and Saipem (+2,06%). To drive the titles is the rise in the price of petrolium (Brent +4,32%) after the American Petroleum Institute announced it expects a drop of 3,61 million barrels in US reserves last week.
THE WORST
Instead, they are placed at the bottom of the Ftse Mib Campari (-1,72%) And Amplifon (-1,48%). Also benefitted on Enel (-1,3%) And Diasorin (-1,26%).
The banks suffer, with Unicredit e Bpm bank which both lost 1,1%. It saves though Understanding (+0,3%). Outside the main price list, the Banca Popolare di Sondrio on the eve of the State Council hearing on the law reforming cooperative banks (terms expire at the end of 2021) which obliges cooperative institutions with more than 8 billion in assets to transform into SPAs
