Joe Biden's victory and Pfizer and Biontech's anti-Covid vaccine (more effective than expected) are the muleta that unleashed the bull on the world stock exchanges today and gave oil wings. Gold, on the other hand, collapses and government bonds suffer, while on the currency market the euro-dollar, after the progress of the single currency, hangs in favor of the greenback and the exchange rate orbits around 1,189.
The European lists archive a stellar session and review the levels of the beginning of March, while Wall Street opens in record area. Frankfurt salt 5%; Paris +7,6%; Madrid +8,7%; London +4,66%.
Business Square it gains 5,43% and returns to 20.750 basis points with a rush of purchases that rewards industrial, banking and oil stocks. Six blue chips see gains of more than 10%. Queen of the list is Leonardo, +16,27%, who recovers last week's crash with interest. They follow Pirelli, +14,22%; Bper +14,17%; Unicredit +13,72%; Eni +12,78%; Saipem + 12,31%.
Not everyone celebrates though. In particular Diasorin drops by 16,5%. The diagnostics company that has raced with anti-Covid tests and virtually doubled its share value since March 9, is suffering at the prospect of an effective vaccine quickly. In fact, the market prices that molecular tests, which represent about 30% of Diasorin's revenues, will gradually run out immediately after the serum is distributed on a large scale.
They are also negative Inwit,-3,9%; Finecobank -2,21% (after a quarterly report in line with expectations); Amplifon -2,52%; Recordati -0,84%.
Out of the main basket stands the Roma +49,8%, after the takeover bid with the objective of delisting by the US tycoon Dan Friedkin at a price of 0,11 euro, lower than the prices expressed by the shares in the sessions in which the offer. Autogrill euphoric +34,7%. There couldn't have been a better debut for Tecma Solutions at Aim Italia. The title marks a progress of 20%.
With worries about a relentless pandemic relegated to the background, markets focused today on the US announcement Pfizer (+8,4%) of the Covid vaccine developed together with the German Biontech (+14%) which demonstrated efficacy in preventing contagion in 90% of the volunteers admitted to phase 3 of the tests, clearly above expectations, which were 75%. The vaccine, the pharmaceutical group has announced, could be ready by the end of the year. Pfizer and Biontech believe they can deliver 50 million doses worldwide this year and 1,3 billion in 2021.
“Great news – tweets Ursula von der Leyen, president of the European Commission – European science works! The Commission will soon sign a contract for up to 300 million doses. We continue to protect ourselves ”.
The hope of a light at the end of the pandemic tunnel has turbocharged the automotive sector and that linked to the air and maritime transport sector. The buildings are good too. In London Rolls Royce for example which jet engine manufacturer marks an increase of more than 43%, while in Paris they celebrate Airbus 18,6% e Vinci+18,8%. Carnival Corp, Norwegian Cruise, Royal Caribbean, United, American Airlines, Delta are rallying on Wall Street. On the other hand, some of the so-called 'stay-at-home' titles such as Zoom Video, Amazon Netflix, are losing ground.
Euphoria overwhelms the Petroleum, with Brent gaining 7,7% and trading at 42,5 dollars a barrel. Instead, he suffersgold, which drops 4,8% moving around 1857,2 dollars an ounce.
Risk appetite weakens bonds and the ten-year Bund yield rises to -0,51%. It then reduces it spread with the 10-year Btp, 122 basis points (-0,77%), although the rate of the Italian bond also rose from the lows reached last week and closed at +0,72%.
In any case, the first day of placement of the new Btp Futura was a success, which by mid-afternoon had already exceeded 2 billion orders.
