Piazza Affari revives slightly, +0,33% (17.928 basis points) at the end of a volatile and nervous session, conditioned in the afternoon by Wall Street's negative start after yesterday's rebound. Above all, the banks are raising their heads, in view of tomorrow's ECB meeting and with the new measures to support the economy that the government and the EU intend to put in place. "Right now - says the president of the EU Commission Ursula von der Leyen - we are all Italians".
Positive sentiment pours into bonds: the spread drops to 193 basis points and the Italian 1,18-year yield falls to 0,75%, while that of the Bund rises from the new lows reached yesterday at -19%. Meanwhile, Lombardy, where the highest number of cases of Covid-XNUMX is recorded, he asks the government to be able to apply the Codogno model to the whole region, that is, everything is still except for food and pharmacies.
In the rest of Europe: Frankfurt -0,37%; Paris -0,57%; Madrid -0,33%. In the black mesh is London, -1,52%, on the day in which the BoE cut the interest rate from 0,75% to 0,25%, with coordinated action with the British government which announced a package £30bn of measures to tackle the growing threat to the economy posed by the spread of the coronavirus. Italy, which is the European country most affected by the epidemic, is bringing the resources to be used to stem the damage of this situation to 25 billion. It is an "extraordinary sum - says Prime Minister Giuseppe Conte - not to be used immediately, but certainly to be used to deal with all the difficulties of this emergency".
Positive news also comes from Brussels. “25 billion could be mobilized very quickly for the entire EU”, claims the president in a video message, and “several billion could be channeled towards Italy'. The decisions precede tomorrow's meeting of the ECB, from which further stimuli are expected for the countries and banks of the euro area. According to Bloomberg, in tonight's conference call with EU leaders, the president of Eurotower Christine Lagarde explained that the central bank will look at all available instruments, including very low-cost financing and liquidity. To European leaders, Lagarde called for urgent action against the effects of the coronavirus emergency, otherwise we risk "a scenario like that of the great financial crisis of 2008".
The steps taken by central banks at the moment do not seem to shake the euro-dollar too much, which is stable and trades at 1,1269. Among the commodities, gold moved down to 1647,15 dollars an ounce. Oil travels in reverseas Saudi Arabia and other OPEC countries ramp up production and the global slowdown due to the coronavirus, while US weekly inventories come in higher than expected. Brent crude dropped 2,66% and fell to 36,23 dollars a barrel.
In Piazza Affari it is Diasorin, +8,24%, who leads the increases in the main price list, after yesterday's announcement of a new kit to respond more quickly to coronavirus swabs. The company closed the 2019 financial year with a record net profit of 175 million euros (+11%) and will propose the payment of a dividend of 0,95 euro per share.
Banks forward shot, after the very heavy losses of the last period. Bench Bpm +7,65%; Ubi +6,08%: Intesa +4,12%; Mediobanca +2,84%; UniCredit +2,72%. Telecom is also in the top ranking today, +3,95%, with the return to the dividend and after announcing that it has started negotiations with Telefonica, for Oi's mobile business. Asset Finecobank 4,51%; Pirelli +3,11%; Ferrari +2,91%.
The biggest drops of the day on the main list are those of Juventus -2,84%; Enel -2,74%; Moncler -2,59%; Camparis -2,57%.
