BAGS TO THE RESCUE FOLLOWING DRAGONS. SUPERSTAR BANKS, GUINNESS MPS
The Draghi effect managed to halt the dramatic descent of the European Stock Exchanges. In line with market and analyst expectations, the European Central Bank left interest rates unchanged at the end of the monetary policy council. But, above all, the president of the ECB anticipated that the Frankfurt institute will take every possible step in March to counter the fall in inflation, which could fall below zero. Furthermore, the Roman banker stressed that the ECB's requests to Italian banks are not aimed at capital increases or the strengthening of reserves.
In the wake of Draghi's words, Piazza Affari has turned its back on the downwards. The Milan Stock Exchange closed with a gain of 4,20%, overcoming the barrier of 18,500 points (the Ftse Mib index closed at 18.723). From the Guinness Book of Records the U-turn of the Mount Paschi: +43,14% to 0,73 euro, above Wednesday's lows.
The other European lists also performed well: Paris and Madrid +1,97%, London +1,77%. Frankfurt also performed well +1,94%, despite the sharp drop in Deutsche Bank -3,05%.
Even on Wall Street, the rebound becomes more robust as the minutes go by, also fueled by the earnings of energy companies, in turn supported by the rise in oil prices: WTI is up 2% to 29 dollars a barrel. Brent gains 3% to 28,7 dollars. In Milan Eni it strengthens in the final and closes up by 3% reaching 12,55 euros.
The S&P500 index, which dropped yesterday to its lowest since April 2014, gains 1% to 1877 points. The Dow Jones rose by 1,1% to 15.950 points, the Nasdaq by 0,8% to 4505 points.
Draghi's words held back the euro -0,7% against the dollar. The alarm on the eve of our government bonds has been silenced: the spread has dropped by 6 points to 110, the yield on the ten-year BTP has dropped to 1,56%. However, the climate of uncertainty continues to push purchases of German Bunds, whose yield has fallen to 0,4840%, and of gold, just below 1.100 dollars an ounce.
The sprint from Piazza Affari was driven by the securities of the banks supported, as well as by Draghi, by the reassurances of the Prime Minister, Matteo Renzi, and of the Minister of Economy, Pier Carlo Padoan, on the solidity of the sector. The titles run behind Mps Carige +29,84% followed by +11% of Bper and from +10,3% of Banco Popolare. The big names also make a clear comeback Understanding +4,9% and Unicredit +7,9%, and the popular ones: bpm+4,4% e Where's Banca + 5,7%.
In Piazza Affari, 38 of the 40 blue chips of the FtseMib bounce, a sign that the rise involves all sectors, especially the banking sector. Good rises for the Agnelli galaxy: Fiat Chrysler scores an increase of 6,37%, Ferrari salt by 3,59%. Well too Mediaset +5% and Telecom Italy +2,5%. Just against the trend Saipem, which lost another 6% on the day in which the board of directors is called to decide the price of the 3,5 billion capital increase which will start on Monday.
