Resurrect the Petroleum and tows the energy stocks with it. Yesterday WTI crude returned above the 50 dollar barrier with a jump of more than 10% in the last two sessions, while Brent rose to 53 dollars (+11%). The rebound of crude oil, together with that of other raw materials, favored the rebound of the lists.
A Tokyo the Nikkei index recorded a rise of 0,3% followed by the other Asian stock exchanges. The stronger the reaction of Wall Street: the Dow Jones index increases by 1,14%, S&P 500 +1,3% and Nasdaq +0,89%. The announcement of the launch by Apple Lossless Audio CODEC (ALAC), of a new bond in 5 tranches of 5 billion dollars. A figure lower than the major issues concluded by the company, but higher than the last placement in November.
They closed in positive ground Paris (+ 0,5%) Frankfurt (+ 1,2%) and London (+ 0,49%). Business Square he eliminated the losses towards the end of the session and closed an uncertain day on parity, conditioned by the problems of Mediterranean Europe. The effect triggered by the Greek elections continues to weigh on the markets. Yesterday morning fear infected the Stock Exchange Madrid, impressed by Saturday's demonstration of the Podemos movement. At the end of the morning Bankia and Bankinter lost 4%, -2,8% for Santander and Banco Bilbao. The day ended with an overall loss of 0,9%.
Best made at Borsa's Athens (+4,6%), in the wake of statements in London by Finance Minister Yannis Varoufakis, who said he was optimistic about an agreement with the EU. Syriza's proposal, according to the Financial Times, provides for the replacement of the current debt with new bonds linked, as far as the yield is concerned, to the profits of the investments financed in this way. Greece's 10,65-year bond fell, with the yield climbing to XNUMX%.
THEeuro it strengthened against the dollar to 1,134 (from 1,129) and to 1,05 against the Swiss franc (from 1,03).
Positive signals are finally arriving from the Italian economy. L'PMI index the manufacturing sector rose to 49,9 in January from 48,4 the previous month, while forecasts did not go beyond 48,8. The PMI is based on a survey of company purchasing managers (in this case from industry) who express their views on what they expect in the next three to six months. A figure greater than 50 indicates growth, less contraction. The eurozone PMI remained unchanged at 51, in line with expectations.
On the government bond market, the yield of ten-year BTP it was little moved to 1,61%, from 1,59% on Friday. The yield on the Bund is stable at 0,30%, the all-time low hit on Friday.
The recovery of crude oil has also awakened the energy sector of Piazza Affari. L'Eni earn 1,2%, Saipem + 5,1% Tenaris +2,7%. Traders are wondering about the nature of crude oil's sudden reversal. Among the causes is the higher-than-expected drop in the closure of American shale oil extraction plants. An important role was also played by contango, ie the phenomenon that occurs when, as happens in this period, short-term prices are lower than those of futures on longer maturities. Operators, according to this thesis, are selling the oil bought in the future with a sure profit.
The banks affected by the Madrid stock market crisis were under fire in the morning. In the afternoon, however, the sector recovered positions: Unicredit + 1,3% Understanding -1,3% MontePaschi +2,8%. Among popular banks, Banca Pop.Milan -1,7% Ubi + 0,1% Banco Popolare + 1,7%.
The black jersey of Eurostoxx belongs to the telecommunications sector. Also in this case the storm comes from Spain: Telefonica it falls by 3,5% on the wave of rumors about a forthcoming capital increase, in the order of at least 5 billion to rebalance the debt exposure.
Also in sharp decline Telecom Italy (-2,5%), not so much due to the feedback effect of news on Telefonica as due to an interview by Marco Patuano with a Brazilian newspaper: we stick to Tim Brasil, said the CEO, but the conditions for agreements with other competitors on the carioca market. Thus the hypothesis of an alliance with Oì vanishes.
Finally, industrial stocks are down: Finmeccanica drops by 0,3%, Pirelli -0,4%. Worth noting is the sharp rise in Buzzi (+3%). Expected today for the reactions to the brilliant performance of the car market in January (+10,91%): Fiat Chrysler (yesterday +0,3%) increases the share to 29%.
