Fed chairman Ben Bernanke did not disappoint market expectations and, partially correcting his latest announcements, he confirmed in front of the US House of Representatives that the US central bank's monetary policy will remain non-accommodative but ultra-accommodative for a long time to come. Which means that the Fed will continue to buy bonds and inject liquidity into the financial system.
These reassurances were enough to give the Stock Exchanges a boost which, especially on this side of the Atlantic, have regained altitude after a nervous morning. Banks and insurance companies were the assets that benefited the most from the statements of the head of the Fed.
Business Square, which has always been bank-centric, was the Stock Exchange that was most positively affected by the Fed effects, resulting in the best stock market in Europe with an increase that exceeded 1% (+1,06%). The Italian Stock Exchange was particularly driven by Fondiaria, which was not affected by the sensational arrest of the Ligresti family (+4,7%) and Mediolanum (+2,8%) but also banks such as Bper (+3,6 %), Ubi (+3%) and Unicredit (+2,1%).
For now, Piazza Affari does not seem to be affected not only by the Ligresti effect but not even by the winds of crisis which, after Renzi's surge against Alfano, are once again shaking the political scene. Just in the morning, meeting the operators of the City in London, Prime Minister Enrico Letta had declared that the margins for interventions on VAT and Imu are reduced due to the armoring of the 2013 public budget but he received applause from the audience when he guaranteed that the government intends speed up the reforms and reopen the divestment dossier from the autumn.
Among the titles that shone the most in Piazza Affari there is also Pirelli (+2,3%), despite the sentence inflicted on Marco Tronchetti Provera for the turbulent Krol affair. Among the minor titles, the increases of Indesit Risparmio (+7,8%), Alerion (+7,2%), Bioera (+6,8%), Seat (+6,2%), Screen Service (+ 5,7%), Stefanel (+4,6%). Instead they went against the tide Aegon (+9,2%) Parmalat (-1%), Fiat (-1,3%) and Banca Popolare di Milano (-1,4%), which in recent days had recorded significant increases. Mediobanca (-1,1%) and Diasorin (-0,9%) also fell. Rcs is in free fall (-4,9%) due to the disappointment of the market in registering the absence of new strong shareholders after the capital increase. Monrif (-5,3%), Caleffi (-5%) and Premafin (-5,2%) are also bad.
Together with the Italian Stock Exchange, positively closed all the European lists who have gained on average half a percentage point. Wall Street's opening tone was also good with the Dow Jones opening in positive territory (+0,2%) and with the Nasdaq gaining 0,3%.
The spread between the BTP and the Bund remained substantially stable, remaining below 300 basis points. On the currency front, the euro trades at 1,3087 against the dollar. Oil trades at 106,09 dollars a barrel.
