The tensions between Russia and Ukraine in the Crimea weighed on the markets which closed weakly despite the good data on confidence in the Eurozone and the fall in the unemployment rate in Germany. Janet Yellen's words partially lift the price lists on the end of the session: continue with continuity, the tapering will be moderate and is not on a predetermined path.
Business Square it closed down 0,38% after filing a 3,5-year rate on today's BTP auction that fell below 2006%, the lowest level since January 191. The fall in the yield on the bund also had an impact on the yield. The BTP-Bund spread closed at XNUMX basis points.
The Treasury then sold all the 3 billion of the maximum offer on the five-year BTP and the four billion of the new 2024-year BTP in September XNUMX at auction today. The yield fell to 2,14% on 5 years, a record low, and to 3,42% on 2005 years, the lowest since XNUMX.
The data on confidence released by Istat is good: business confidence in February marks another rise, the fourth in a row. The index goes to 87,9, the highest value since October 2011, or more than two years. The improvement is widespread across all sectors. In the meantime Renzi receives the applause of the IMF which, however, is waiting to see the facts. For the Fund, the unemployment rate in Italy is a pressing issue: the reform of the labor market is "key".
Weak Europe: Paris unchanged, London +0,16%, Frankfurt -0,76%, Madrid -0,5%.
In Spain, fourth-quarter GDP rose by 0,2%, less than the 0,3% initially estimated. In Germany the number of German unemployed fell in February for the third month in a row, marking -14.000 to 2,914 million for an unchanged unemployment rate at 6,8%. German inflation, according to preliminary estimates, rose by 0,5% quarter on quarter in February and by 1,2% yoy (+1,3% in January), slightly below expectations.
The ECB found that bank loans to households and businesses in the Eurozone fell by 2,2% in January against -2,3% the previous month.
After a weak opening, a Wall Street the Dow Jones rose by 0,2%, the Nasdaq by 0,25% and the S&P500 by 0,22%, weighed down at the start by contrasting macro data. US durable goods orders fell 1% in January while US jobless claims rose by 14.000 to 348.000 last week, a one-month high and above expectations. For the Fed, with Yellen in the Senate hearing, it is difficult to measure the recovery due to the uncertainty caused by the wave of bad weather. The euro-dollar exchange rate rose by 0,21% to 1,3716 while WTI oil dropped 0,66% to 101,091 dollars a barrel.
Telecom Italia thud in Piazza Affari -4,29% on the day of the board of directors on governance. In a difficult day for the telecommunications sector, the stock paid for Fitch's note that the telecommunications group should "significantly slow down the decline in gross operating margin in 2014 and 2015" in order to avoid a rating downgrade, while maintaining its debt to EBITDA ratio below 3,5.
Ansaldo Sts -2,19%, Prysmian -2,16%, Cnh Industrial -1,74% also down. Fiat -1,4% after accounts with group net profit of 1,95 billion. In evidence A2A +2,9% thanks to the accounts and the opinions of analysts. At the top of the Ftse Mib are the banks: Mps +2,6%, Ubi +1,7%, Bpm +1,6% and Mediobanca +1,33%
