Business Square starts off on the right foot again this week and closes up 0,78% to 24.802 points, thanks to the banks, well bought after the quarterly reports and in view of a new aggregation season. Queen of the price list is Unicredit +5,39%. The other European markets are contrasted and the start of Wall Street is mixed, where the Dow Jones however updates its historical highs and for the first time exceeds 35 thousand points.
Madrid appreciates by 0,93%, Paris, Frankfurt e London they are flat, back off Amsterdam -0,91%. In New York, in the first hours of trading, the 30 blue chip index soars, while the Nasdaq yields 1,5%. Big tech is down and also Tesla loses 3,5%, after number one Elon Musk said on TV that he suffers from Asperger's syndrome.
On the crest of the wave it moves Biontech (+5,46%), which closed the first quarter with 2,08 billion euros in revenues due to the sale of anti-covid vaccines developed with the US Pfizer (+1,2%). To meet the great demand for serums based on messenger RNA (mRNA) technology, the two partners will build a new production site in Singapore.
On the currency market theeuro dollar it moved little, in the 1,21 area, while the pound strongly strengthened against the single currency and the greenback.
Raw materials also remain in the spotlight, starting from Petroleum, after the cyber attack that hit Colonial Pipeline, the most important fuel transportation infrastructure on the American east coast, last Friday. After an upward start, futures prices deflated slightly: Brent -0,1%, 68,20 dollars a barrel; Wti -0,2%, 64,75 dollars a barrel.
Also metals they are trading at very high levels, after the gains of the last few sessions which brought copper to a new record above 10.600 dollars. Gold rises above 1841 dollars an ounce.
The trend in commodities favors the shares of mining, energy and steel companies and leads to some concern about inflation in the USA, but the disappointing data on jobs published last Friday (266 more jobs in April against expectations of one million) strengthens the belief that the Fed will maintain its ultra-accommodative monetary policy for a long time and therefore rates at historic lows and a massive bond purchase program. The US 1,57-year yield is currently down slightly in the XNUMX% area.
On the Italian secondary market, the rate of BTP years falls to +0,88% (it was +0,91% on Friday) and the spread with the Bund at 109 basis points (-3,26%). Last week Moody's confirmed its “Baa3” rating on Italy, just one step above the junk level, with a stable outlook. The rating, according to the agency, is supported by the country's economic strength, rated with "a3", which "reflects a large and diversified economy and low private sector debt", but at the same time also discounts "a weak performance growth and major structural challenges, including low productivity growth, an inefficient legal and administrative system, and wide regional divergences. The assessment also reflects a "very high" public debt-to-GDP ratio which is set to increase following the pandemic shock.
In equities, the climate of confidence on the Italian paper favors banks, also driven by better-than-expected quarterly results. The progress of blue chips is led by Unicredit +5,39%, thanks also to increases in target prices by Ubs and Morgan Stanley. They shine Bper + 3,87% Bpm bank + 2,76% Understanding +1,16% and Mediobanca + 1,34%.
Among the oil stocks shines Tenaris +2,62%. Raise your head Telecom + 2,15%.
Buzzi Unicem it appreciates by 2,15%, after confirming the 2021 guidance and in the light of a quarterly report with revenues of 683 million euros. Technological sales penalize stm -2,6%. In red nexi -1,41% and Amplifon -1,65%.
Out of the main basket Aedes rises by 9,19%, close to the new tender offer price of Nuova Argo Finanziaria at 28 euros (25,6 euros the previous one) announced last Friday with extension of the acceptance period to 24 May compared to today's deadline.
It goes down instead Juventus, -5,02%, after yesterday's 3-0 defeat at home against Milan, which puts qualification for the Champions League at risk. The Juventus team also risks being excluded from the Serie A championship if it remains in the Superlega, according to what the president of the Football Federation Gabriele Gravina said during an event. Juventus is one of three teams, along with Real Madrid and Barcelona, that have not yet formally abandoned the project.
