The week of financial trading begins with a series of records for European stock exchanges. TO Frankfurt, dax 30 it rose mid-morning for the first time above the psychological threshold of 12 points (+1%, to 12.023,57), updating the all-time high for the umpteenth time in recent weeks.
A Paris the Cac40 stretches above 5 points (+0,77%, to 5.049,19 points) and marks the highest level since May 2008.
However, it is the Milanese price list that scores the best performance, with the Ftse Eb which travels up by 1,2%, to 22.982,29 points (after briefly touching 23), the highest since February 2010.
As regards the sectors targeted by investors, at the moment purchases in Europe mainly reward the car, financial services, retailers and the media sector.
The positive performance of the European Stock Exchanges is primarily explained by the Quantitative easing launched last week by the European Central Bank, the program for the maxi-purchases of public and private bonds on the secondary market.
With these operations, the Eurotower not only further lowers bond yields, inducing investors to move to the stock market, but also frees up a further and huge amount of liquidity in the banks' balance sheets, which - after having sold their State to the ECB – move towards more profitable investments.
Investors are also induced to move capital to the European markets by what is happening in the United States, where the fomc, the operating arm of the Federal Reserve, which must update the estimates on the US recovery and discuss when to start raising the cost of money.
Finally, another decisive factor for the markets is the performance of the Oil prices, that this morning updated the lows of the last six years, with WTI slipping to a minimum of 43,67 dollars a barrel and Brent down to 53,33.
