The hunt for 24 points by Business Square, which closes the third consecutive session up (+0,46%, 23.925 basis points) and almost completely erases the collapses due to the pandemic. Covid 19 is still scary and the government is once again forced to take stringent measures to stem the infections, but the stock exchanges are looking further, to the economic recovery already present in China and ready to take off in the US thanks to mass vaccinations. The most feared risk is the change in monetary policy by central banks due to a surge in inflation. An issue that the ECB will also have to address tomorrow, in its monetary policy meeting, also in the light of the tensions that have arisen on government bonds. The data on US inflation intervened today to give confidence to the markets which, in February, appeared tepid and in line with forecasts. Consumer prices increased by 0,4% and the "core" figure, the one excluding the component of food and energy prices, grew by 0,1%, as estimated by experts.
After an uncertain morning, all European lists close higher Frankfurt it appreciates by 0,7%; it is even more toned Paris +1,1%, while Madrid e Amsterdam recorded fractional progress (respectively +0,34% and +0,43%). Practically flat London. Wall Street moves in green, after the good start and the Dow Jones records the third consecutive intraday record, with a growth of 1,3% so far. The Treasury bond market was stable, with the 1,53-year rate declining slightly to XNUMX%.
Theeuro dollar it is little moved, in area 1,189. Commodities retreat slightly, in particular the Brent it dropped 0,6% and traded at 67,10 dollars a barrel.
In Piazza Affari, two industrial stocks open and close the main basket Leonardo, started with a drop of 2,8%, in the end conquering the pink jersey, +5,56%. The quarterly report presented yesterday appeared disappointing, but today CEO Alessandro Profumo reassured investors on the business plan, which remains unchanged, and on the group's future. According to UBS analysts, who have a "buy" valuation on the stock with a price target of 8 euros per share, "the results and the 2021 outlook were in line with expectations and give relief looking at the current year ”.
Instead, he is in black jersey Prysmian (-3,72%), which closed 2020 with a 2020 net profit of 174 million euros, down 41,2% on 2019 and revenues of 10 billion euros, down 8,3%. "I am confident that the group can report a result in the upper part of the range of adjusted EBITDA forecasts for 2021 which is 870-940 million euros - said the CEO Valerio Battista, during the conference call with the analysts”, but uncertainty remains high due to the pandemic.
Among the best blue chips of the day Telecom +4,83%; Interpump +3,47%; Campari +2,51%; Atlantia +2,2%; stellantis +2,05%. The utility sector is doing well. Enel + 1,38%.
In decline stm -2,54% Recordati -1,82% Cnh -1,74%.
Fashion was also in the spotlight today, for better or for worse. Moncler it lost 1,41%, weighted down by the placement of 3,2% of the share capital by Ruffini Partecipazioni at a price of 48,8 euros, well below yesterday's closing price of 50,32.
It shines instead Ferragamo, +5,76%, on the back of better-than-expected 2020 results and despite the Covid-19 pandemic leading to the group's first annual operating loss since its flotation. Good start to the year driven by China and e-commerce. Broker Kepler raised the target price on the stock to 16 euros from the previous 15.
Positive Tod’s, +1,25%, awaiting results soon.
In Madrid Inditex (Zara) appreciates by 0,57%, despite the 70% drop in net profit in 2020 due to the various lockdowns, which forced the well-known brand to keep its shops closed for long periods.
In Milan, among the worst titles is la Juventus (-8%), which pays the price of elimination from the Champions League on the Stock Exchange. The 3-2 victory in yesterday's return match against the Porto team in extra time was not enough for the Bianconeri to get through the round of 10,5 and reach the quarterfinals. By not qualifying for the quarter-finals, Juve lose an income of XNUMX million euros.
Well tuned the bond: lo spread between Italian and German ten-year bonds it drops to 98 basis points (-1,08%) and the BTP rate stops at +0,67%.
On the primary side, the yields of the Treasury bonds assigned today by the Treasury were slightly higher: 6 billion 12-month bonds, maturing 14/03/2022, with a yield of -0,421%, up by 3 cents compared to the auction of the previous month. Demand was good, standing at 8,535 billion euros, with a supply-demand ratio of 1,42. The auction regulation falls on March 12th.
