The first session after the Easter holidays closed in contrast in Europe, while it appears well in tune on Wall Street, in the American morning.
Business Square is in the red and loses 0,36%, stopping at 17.558 points, thanks to the increase in spreads and the consequent backlash on the banks: Unicredit -4,53%. The spread The yield on ten-year Italian and German bonds rose by 9,98% to 215 basis points, with the yield on the BTP rising to 1,76%. The Italian card pays for the economic crisis from Covid 19 and the price of the controversies following the meeting of the Eurogroup on 7 April, with the no also to the Mes without conditions and awaiting the meeting of European leaders on 23 April.
On Eurobonds, today there is a favorable statement from Vitas Vasiliauskas, a member of the European Central Bank. “We should use all ESM tools but also think about further steps if needed and by that I mean Coronabonds first and foremost,” the Lithuanian central bank governor told Reuters. But this is not enough to lift the spirits while the calendar of the review of the ratings by the main European agencies is looming (for Italy the dances will open on April 24 with S&P, BBB negative), while the International Monetary Fund estimates that the Belpaese will pay the highest price for the pandemic in terms of GDP. The Fund defines the 'Great Lockdown', the great closure, the worst recession since the Great Depression of the 30s and worse than the 2008 crisis (GDP -0,1%), therefore estimates that world GDP will drop by 3% in 2020 ; in the Eurozone the negative rate will be 7,5% per cent e Italy will be in the queue, -9,1%, together with Greece -10%.
Going back to the daily performance of the price lists: also closing Frankfurt loses a few hits, but remains the strongest +1,33%, followed by Paris +0,38% and Madrid +0,51%. In red London, -0,82%, which should lengthen the lockdown by three weeks.
Wall Street moves up, despite the fact that the first quarters of a new series are undoubtedly disappointing due to the pandemic. JpMorgan Chase's profits and revenues fell more than expected; while Wells Fargo saw profits plummet to 653 million, one cent a share, due to an increase in provisions for possible credit losses.
In the area of currency i'EUR it appreciates against the dollar and the exchange rate rises to 1,096. The greenback weakened against major currencies in a more risk-averse market, following China's March trade data showing a less bleak-than-expected economic outlook. Chinese exports last month saw a decline of 6,6% on year, against expectations for a 14% drop, while imports saw a reduction of less than 1%, compared with expectations for a -9,5, XNUMX%.
Among the raw materialsgold is still on the rise, beyond its 7-year high, around 1767 dollars an ounce, while the Petroleum back down after celebrating the largest production cut to date (minus 9,7 million barrels per day from May). Brent yields 5,83% and trades below 30 dollars a barrel.
In the business square Diasorin +4,95%, it is among the blue chips with the highest growth and in the session it also updated its historical highs, on the possibility of producing a rapid test for Covid 19.
In pink knit nexi +5,9%. Shop on Atlantia +3,51%; Moncler + 2,59%.
Generali it appreciates by 2,06%, after the confirmation of the dividend albeit in two tranches. It also shines Unipol +2,08%-
At the bottom of the list are the financial securities: in addition to Unicredit, Bper -4,47%; Mediobanca -4,19%; Bpm bank -3,86%: Azimuth -3,52%; Understanding -2,69%. Below Buzzi -3,72%
Bad oil: Eni -1,51%.
