Final recovery for the main European lists, at the end of a volatile session conditioned by the collapse of oil. Business Square resets the losses, +0,05% and thus saves the 17 points. salt Frankfurt +0,37%, on the day of the partial reopening of schools for exams. Well Paris +0,65%; London +0,56%. It remains in red only Madrid -0,62%, with gloomy recession forecasts. Also Wall Street improves, after a negative start and the Nasdaq is now moving in the green, above all thanks to the rises of Netflix and Amazon, companies to some extent favored by the lockdown at home of billions of people.
The economic fallout from the Covid 19 pandemic was still largely shaking the session. In particular, the Bundesbank considers a rapid recovery for Germany unlikely, after the severe recession induced by the lockdown, considering that many restrictions could remain in force for a long time. The Spanish central bank, on the other hand, estimates a drop in GDP for the Iberian country of between 6,6% and 13,6%, depending on when phase two can be launched.
The global crisis also overwhelms the Petroleum, after the IEA, the international energy agency has sounded the alarm for the risk of saturation of storage facilities in the world. The news sent the WTI contract to the bottom in May, which expires tomorrow, even dropping below 11 dollars a barrel, with a drop of almost 40%. The damages for the future of crude oil maturing June 2020, -9%, 22,77 dollars a barrel and for Brent, -5,3%, 26,59 dollars a barrel were more contained.
Uncertainty favorsgold, which is currently progressing at $1710,15 an ounce
The currency market is flateuro-dollar, exchange rate 1,10875, at the start of a field week for the single currency area. The focus remains on Thursday's EU summit, when the heads of government will have to decide which common economic response to give to the epidemic.
In the meantime, the Italian paper remains under pressure, with lo spread with the German 238-year bond rising to 5,33 points +2% and the yield of the BTP coming close to 1,93% (6%), while on Friday evening SXNUMXP will update its rating on Italy. However, Milano Finanza reports that UBS is betting on the Italian stock: “We are overweight in investment grade and high yield corporate bonds and emerging government bonds. Among European government bonds, BTPs are among those we prefer”, says Matteo Ramenghi, investment manager at UBS Wealth Management Italy in a report this morning dedicated to credit opportunities in this context.
In any case, the tensions on government bonds eased during the session, allowing the banks to catch their breath and close slightly positive. The best is Ubi, + 1,29%.
News arrives from Brussels that the Commission is not allegedly working on a European bad bank, to remove NPLs from the budgets of institutions, after the Financial Times he had written that the ECB was discussing such a hypothesis with the leaders of the area.
In the rest of the list the best title is Amplifon, +10,8%. It also flies Diasoirn, +6,23%, after the go-ahead of the CE marking of the serological test capable of identifying the IgG antibodies of the new SARS-CoV-2.
leap of Buzzi +3,66%; Pirelli +3,34%%; Cnh + 3,01%.
Sales penalize Campari, -3,17%, on the ex-dividend date as Ferrari, -2,02%.
In decline Terna, -2,44%, with the change at the top at the door.
Eni -1,781%, folding with the drop in oil prices in the week in which it will lift the veil on the results of the first quarter. Below Tenaris -0,59%, while Saipem rises by 1,42%, after this morning Rete Ferroviaria Italiana (FS Italiane group) and the Cepav due consortium, of which Saipem is a part, started the construction of the second construction lot of the Brescia Est–Verona high-speed section, for a value of approximately 514 million euros. Saipem's share is approximately 304 million.
In decline nexi -1,93%.
Outside the main list, the rumors of the transfer market and the hope of a resumption of the championship send la into orbit Juventus + 12,22%.
