Draghi's ECB Qe gives stock markets a boost and brings down euros, bonds and spreads

Stock markets are up sharply, the euro is ever closer to parity with the dollar, yields on government bonds and increasingly low spreads: this is the effervescent response of the markets to the launch of Draghi's ECB Qe which will start on Monday 9 March – Very Draghi's upward estimates on the GDP of the eurozone are appreciated – Luxury and the banks set Milan on fire.

EURO AT LOW, SPREAD AT 92. LUXURY CELEBRATES THE DRAGHI SHOW

The European stock exchanges are galloping, led upwards by Piazza Affari (+1,32, Ftse Mib index at 22.004) The yield on the ten-year BTP is down, 1,32%, and the spread down to a minimum of 93 points, which takes us back to spring of 2010. Above all, the euro slipped down to 1,004 against the dollar, at the beginning of 2003.

These are the effects on the financial markets of the official launch of the Quantitative Easing, confirmed for Monday 9 March. The market reaction was amplified by Mario Draghi's statements after the ECB's away meeting in Cyprus: the ECB's strategy, he said, is already bearing fruit. The negative spiral towards deflation has been halted, estimates on growth in the eurozone must be corrected upwards as of 2015 (+1,5% against the 1% estimated in December).

The other European Stock Exchanges are on positive ground: Paris +0,93%, Frankfurt +1,03% and Madrid also gains 0,68%%. The Draghi effect is also transmitted to Wall Street, despite the fact that unemployment claims are higher than expected: the Dow Jones gains 0,2%, the S&P 500 0,1%, the Nasdaq gains 0,3, about XNUMX%.

Luxury takes off on the catwalk of Piazza Affari. In the spotlight, after the positive balance Moncler +10%% driving upwards drum, the investment company that indirectly owns 4,5% of the Moncler down jacket company Salvatore Ferragamo salt of 1,6%, Tod’s + 7%.

Positive too Yoox +2,2% and Luxottica + 2,4%. sapphire +2% after announcing an agreement to produce glasses under license from Givenchy. The banks are also doing well, both the Big ones Understanding + 2,2% Unicredit +1,5% that the Popular, from Ubi +2,5% to Banking Pop Milan +2,1% and Banco Popular + 2,1%.

Weak Telecom Italy -0,4%. In reverse Mediaset gains 2,1% while the subsidiary does better eiTowers + 3%. It also dates RaiWay +2%. This morning in a hearing in the Senate, the president of Rai Way, Camillo Rossotto, reiterated that the company is not contestable. For his part, the CEO of EiTowers, Guido Barbieri, said he could not answer the question of whether the condition of validity of the takeover bid will be changed, which sets a minimum level of participation at 66,7%.

Lastly, among the industrial stocks StM + 1,8% Prysmian +1%. They also shine Pirelli +1,4% and Fiat Chrysler +1%. Strong rise in cement manufacturers after good results by Italcementi + 4,1%. Buzzi salt by 3%.