Positive closure for the European Stock Exchanges, with Piazza Affari bucking the trend, -0,47%, while in Italy the political crisis holds the court. Today the spread is also rising, albeit remaining at very low levels: the yield differential with the ten-year German Bund rises to 119 basis points (+6,2%) and the BTP rate rises to +0,61%.
This is perhaps a modest sign of concern on the part of the markets, after the resignation last night of the two ministers of Italia Viva and the new ascent to Colle today by Giuseppe Conte. The premier went to the Quirinale in the mid-afternoon to update the President of the Republic on the situation and assume the powers of the resigning women, but also to express his intention to seek clarification in the courtroom. The president Sergio Mattarella "has taken note of these intentions".
Still on the political front, today is the news that the leader of Forza Italia, Silvio Berlusconi, has been hospitalized in the Principality of Monaco for heart problems. An event that prompted speculation on the Mediaset stock (+2,81%). On the main list, however, FCA shines (+2,9%), in its penultimate session with this name.
The climate of the day was variable, but in the end serene, in the rest of Europe: Frankfurt, a few minutes after the closure, marks + 0,4%, after yesterday recording a record 1.244 deaths from Covid. According to the statistical institute Destatis, GDP in 2020 will record a drop of 5%, in line with expectations and less serious than the -5,9% of the economic-financial crisis of 2009. Paris rises by 0,33%; Madrid +0,12%. Toned London, +0,83%.
Overseas Wall Street moves in tune waiting for the president-elect Joe Biden to reveal the details of his anti-crisis aid plan, which, according to press sources, could be worth around 2.000 billion dollars. However, the job data disappoints the unemployment claims which rose to their highest levels since August in the week ending January 9: +181, for a total of 965.000, against estimates for a rise to 800. Furthermore, Biden's swearing-in on January 20 is approaching with some concern, while yesterday Donald Trump became the first US president to be impeached twice; in favor of the impeachment, in addition to the Democrats, ten Republican deputies voted.
Now the match will move to the Senate, but when Trump is no longer president. As for the various stocks, BlackRock is down, after yesterday closing the sixth consecutive session higher thanks to the fourth quarter 2020 numbers above estimates, with profit up 19%. Well Johnson & Johnson, with its vaccine that would be safe and generate a promising immune response thanks to a single dose.
On the currency market, the euro-dollar moved little, 1,215. The greenback holds above its three-year low against a panel of currencies, as expectations of a fiscal stimulus from Biden drive up US government yields. The 2.000-year Treasury rate rose just as 'CNN' reported that the stimulus will be worth around XNUMX billion dollars, further propping up the dollar and weakening gold.
The February 2021 contract of the precious metal is currently trading down 0,36% at 1848,25 dollars an ounce. Some weakness permeates oil, with March 2021 Brent futures at $55,70 a barrel (-0,64%), amid OPEC believes global oil demand will remain subdued in Q2021 XNUMX due to the economic effects of the pandemic.
In Piazza Affari the session was particularly favorable to the Agnelli group. Fiat is queen of the price list, with the detachment of the dividend of 1,84 euros (today and tomorrow). The company specified that although the coupon will be paid on January 29, when Stellantis, the company born from the merger between FCA and PSA Peugeot, exists, it will only be due to FCA shareholders, who will thus have a return of more than 12%. In the wake of Exor +1,19%, but Cnh +0,85% is also in evidence. Instead Ferrari stops in the pits, -0,03%.
In the rest of the price list, purchases reward Tenaris +0,88%, Telecom +0,77% and Leonardo +0,75%. Profit-taking instead weighed on Hera -2,28% and Azimut -1,77%, after the rally on the eve. The banks were weak, with Bper -1,58% and Unicredit -1,41%. Outside the main basket, Unieuro appreciates by 3,72%%, after the announcement of revenues growing by 7,4% to €1,9 billion in the first nine months of the 2020/21 financial year, thanks to the positive performance of all the product categories. Mediobanca Securities confirms the 'Outperform' recommendation on the stock and brings the target price to 17,2 euros (from the previous 14,8 euros) based on its new estimates for 2021-2023.
