All according to forecasts: the ECB confirms interest rates at an all-time low (0,25%, the last cut dates back to November 2013) and Mario Draghi reassures the markets with an expression already used in the recent past, remaining optimistic but vague about the next interventions: "We are resolute and determined to maintain a high degree of monetary accommodation and to act promptly", said the number one of the Eurotower, assuming in practice the possible purchase of public or private securities, "as well as numerous other measures such as a new cut in interest rates, a reduction in the bank overnight deposit rate and an extension of the unlimited volume modus for refinancing auctions”.
That was enough, therefore, to push the Stock Exchanges after the volatility of the morning: after the words of Draghi Piazza Affari, which in the morning had also fallen into negative territory (also dragged along by the bad day of luxury), to surge around +0,8, 15% shortly before 22 pm, approaching 2 thousand points. The president of the ECB, as usual, benefits above all from banking stocks: in particular Bpm, Intesa Sanpaolo and Unicredit, with gains close to or greater than 17%, while the Generali rally continues which, in the wake of the Barcelona convention, it overcame important technical resistances, approaching the psychological threshold of 170 euros. Luxury still suffers: Yoox, Moncler and Luxottica are the three worst of the Ftse Mib. The Btp-Bund spread is confirmed below the threshold of 167 basis points, even reaching XNUMX points in the morning.
On the other hand, Wall Street opens uncertainly – according to futures – which after four consecutive days of increases, it seems to want to take a break. The US markets are worried by the new requests for unemployment benefits, which rose by 16.000 units (more than estimates) to 326.000 in the last week, while the budget deficit widened in February with exports down by 1,1 ,XNUMX%.
