European stocks closed sharply higher today, rebounding after last month's sell-off, while government bond yields fell. The approval of the 1900 trillion dollar stimulus plan by the US House and the green light from the FDA for the third American vaccine, the single-dose one from Johnson & Johnson, are injecting optimism into the markets. The EMA, the European drug agency, should align itself with its American colleagues, for the approval of the new anti-Covid serum, around 12 March. Trust finds ample space a Wall Street: on the Dow Jones there are no stocks in red, while the Nasdaq presses the accelerator after an overall loss of 4,9% last eighth.
Warren Buffet, in his annual letter to shareholders, reiterated that he "never bet against America", confirming himself as a firm supporter of the US market. Berkshire Hathaway posted profit up 23% to $35,8 billion in the fourth quarter and said it repurchased approximately $9 billion of its shares in the fourth quarter, bringing its 2020 total repurchases to a record high. $24,7 billion. In bonds, the yield on 10-year Treasuries is declining and is moving around 1,4%, after last week hitting a one-year high of +1,61% on expectations of an acceleration in inflation and strong economic recovery. The fact that the Biden plan is coming to fruition, despite the vaccination campaign and signs of recovery, puts the markets in a good mood.
In Europe the best square is Amsterdam +2,05%, followed by Madrid +1,85%. Slightly further back Frankfurt + 1,64% Paris +1,57%; London + 1,59%.
Business Square gains 1,82% and rises to 23.264 basis points, driven by financial stocks. They do their shopping Azimuth +4,68%; Post +4,51%; Unipol +4,41%; Unicredit +3,58%; Mediobanca +3,46%; General Bank +3,4%. It also stands out in asset management Soul Holding, +5,13%, which closed 2020 with a net profit of 155,4 million (+7% on 2019). The normalized figure amounts to 197,1 million (+6% on 2019). The parent company recorded a result of 199,2 million (+34% on 2019). For Mediobanca the stock is "Buy" for Equita "Outperform" with a price target of 4,5 euros.
In other sectors it flies Leonardo (+3,92%) after the official decision to list a minority stake in the subsidiary Drs on Wall Street by the end of March. The Equita broker writes that "the cash-in for Leonardo will depend on the stake that will be placed, if it were 35% of the assumed valuation it would be around 0,86 billion".
Atlantia it is appreciated (+3,8%) for having rejected the offer of the Cdp-Blackstone-Macquarie consortium, considered too low. However, this is not a definitive no, in fact the company has given a mandate to the top management to negotiate to obtain an improvement proposal. For Il Sole 24 ore there could also be news coming from Spain, after the president of Acs, Florentino Perez, made it clear in recent days that he is ready to invest the 5,2 billion euros he will collect at the end of March from the sale of Cobra in Vinci on highways and renewable energies. Aspi could therefore be among the possible targets, as part of the demerger project which aims to bring 33% of Autostrade into the newco Acc and to sell the remaining 55%, in the event the operation with CDP does not go through.
Bene stellantis +3,65% ea per wheel Exor + 3,46%.
Instead, the bleeding continues Saipem, -1,9%, after the 2020 accounts and the 2021 forecasts still affected by the pandemic.
Letter about stm -1,75%, while Telecom it is pale red -0,33%.
Out of the main basket Piaggio it appreciates by 2,55%, after signing a letter of intent with KTM, Honda Motor and Yamaha Motor, to create a consortium to develop interchangeable batteries for motorcycles and light electric vehicles.
Improve the secondary: lo spread between the Italian and German 100-year bond it drops below 99 again to 1,93 basis points (-0,66%), while the BTP rate closes at +XNUMX%. Meanwhile, Prime Minister Mario Draghi decisively takes the reins of his government and the management of the pandemic. This afternoon the control room on the Covid dossier met with the competent ministers and the signing of the new Dpcm, which should regulate the situation until Easter, is expected for Tuesday. The Extraordinary Commissioner for the Covid emergency also changes. Palazzo Chigi chooses the General of the Army Corps Francesco Paolo Figliuolo and dismisses Domenico Arcuri, thanking him for the commitment and spirit of dedication with which he carried out his task in a moment of particular emergency for the country.
On the currency market theeuro it remains weak against the dollar in the 1,2 area, while in the pound it is confirmed to be tonic against the single currency and the greenback driven by a vaccination campaign that has already led Great Britain to give at least one vaccine injection to 20 million people.
The raw materials are shy. The Petroleum it is moving in fractional progress in anticipation of the OPEC+ summit, scheduled for March 4, which should decide on an increase in production in tandem with the recovery of the world economy. Brent is at 64,62 dollars a barrel (+0,3%), while Texan crude is flat at 61,50 dollars. The future is also practically colorless gold April 2021 at $1730,50 an ounce.
