Last weak and volatile session for the European stock exchanges a semi-festive climate characterized by fewer trades. After resisting sales for almost the whole day, Piazza Affari finally dropped 0,12%, stopping at 22.232 points, bringing home an annual balance of the main Milanese stock exchange in the red of 5,2%, despite the remarkable recovery from negative peak in March. Frankfurt, which instead updated its all-time highs in recent days, is down today by 0,34% in a session that ended early; Paris -0,22%; Madrid -0,23%. London is even more backward -0,7%, due to profit-taking after the gains on the eve and due to a pound in progress against the euro and the dollar after the green light for the AstraZeneca vaccine in the United Kingdom. In fact, with a new leap forward, Great Britain is the first country in the world to give its ok to the medicine developed by the pharmaceutical company together with the University of Oxford.
Risk appetite prevails on Wall Street, which opened higher and is currently trading higher led by the energy and materials sectors, although the chances of an increase in subsidies for US citizens have waned after the leader of the Senate majority Mitch McConnell blocked a snap vote to support President Donald Trump's call to increase the scope of anti-Covid-19 aid. Overall, the MSCI global stock index is up 14% year-to-date recovered 70% from its March lowswhen the pandemic broke out.
The dollar moves to the lows of the last two years against the main currencies, in the perspective that vaccines can finally pave the way for recovery next year, despite yesterday the US recorded a peak in infections (over 247 cases) and deaths ( over 3.700) and today a case of the more contagious English variant has been identified. The euro is trading up against the greenback and after touching 1,23, it is now moving in the 1,228 area. Bitcoin takes a new leap and rises to $28.145, after touching its record above $28.599.
Oil is uncertain, which is currently trading not far from yesterday's levels, with Brent at 51,23 dollars a barrel. The February 2021 gold contract remains well tuned, 1890,55 dollars an ounce. In Piazza Affari it is Saipem, +1,53%, who ends today's race in the pink jersey. The oil service company announced a joint venture contract for the development of a urea fertilizer plant in Australia. The total value of the contract is approximately 2,4 billion dollars e Saipem's share amounts to approximately 1,2 billion. Unfortunately, the strong performance does not erase a year in which the company's shares fell by 49,61%.
Among the best blue chips of the day also Diasorin, +1,31%, which instead boasts an increase of 46,78% in the current year. The subsidiary Diasorin Molecular has received US federal funds from the Biomedical Advanced Research and Development Authority (Barda) to request 510(k) certification of the Simplexa Covid-19 Direct molecular test. Good Stm +1,36% and Interpump +0,75%. Campari down -1,29%; Leonardo -1,17%; Cnh -1,05%; Telecom, -0,89%. Weak banking sector, one of the hardest hit by sales in this long and difficult 12 months. The worst action today is Unicredit, -0,62%, followed by Mediobanca -0,48%. Intesa -0,36%, boasts the most traded stock in 2020.
Out of the main basket Fincantieri, +1,01%, celebrates the extension on Stx. In fact, the French government proposed to the Italian group, which accepted, to extend the finalization of the acquisition of the Breton shipyard Chantiers de l'Atlantique (formerly Stx) by one month. In the 2020 Market Review of Borsa Italiana, on data updated to 28 December, we read that the overall capitalization of companies listed on the Stock Exchange stands at 607 billion euros, equal to 37% of GDP, down compared to 2019 when the capitalization had reached 655,6 billion. The session is positive for bonds. The spread between Italian and German ten-year bonds fell to 108 basis points (-1,68%) with a BTP rate of +0,51%.
