Gold shines, at a seven-year high, confirming that uncertainty reigns supreme at the time of the pandemic raging in the Americas and taking possession of the most important German slaughterhouse. But the Stock Exchanges are consoled, with Apple (+2,7%) at new highs on the day in which the new products that mount the chips made in-house by the giant make their debut. Driven by Apple, but also by Netflix, Amazon and Microsoft, the Nasdaq (+1,11%) sets a new record at 10.056 points.
On the geopolitical front, awaiting the release today of the anti-Trump book by former security adviser John Bolton, the President has denied his intention to denounce the agreement reached with Beijing in December as anticipated by the hawkish Peter Navarro. After the interview, US futures had lost 400 points, only to recover when the denial came out.
Asian stock exchanges celebrated the narrow escape. In the final session, the Nikkei was up 0,9%, Hong Kong's Hang Seng 1%, the Shanghai Composite 0,2%, Seoul's Kospi 0,4%. India's stocks opened up 0,4%.
Nothing happened yesterday in the video conference between the leaders of the European Union and those of China. Brussels has reiterated its request for greater guarantees in trade with China.
The sprint of technology stocks has also infected the other US markets: the Dow Jones closes at +0,59%, S&P 500 +0,65%.
Tyson food thud (-2,8%): China has suspended purchases of poultry from the company after the emergence of pandemic cases.
Brent oil moved slightly to 43 dollars a barrel, from +2% yesterday at the close: North Sea oil is at the levels of early March 2020.
Eurozone PMI data released this morning. The governor of Bank of Italy Ignazio Visco has cooled the expectation of a VAT cut that the country cannot afford.
WEAK STOCK MARKETS, EUROZONE PMI DATA THIS MORNING
European stock markets started the week lower in the absence of macro stimulus and after Friday's European Council which was interim in nature. At the next meeting, the leaders of the European countries will find Angela Merkel to guide the work in person. Meanwhile, to stay in Germany, the rift between the government and the Constitutional Court has been partially mended over the government bond purchase program of the European Central Bank. “This is not an unsolvable drama. We will soon see a painless solution achieved,” Finance Minister Olaf Scholz said via link from Berlin at a conference. But Peter Huber, the constitutional judge who wrote the ruling on Qe's compliance with German law, called the pandemic-related securities purchase plan (Pepp) "a redistribution program".
IN MILAN (-0,7%) THE COUPON DETERMINATION WEIGHTS
Piazza Affari dropped 0,71% and fell to 19.478 basis points, penalized by the coupon detachment of many blue chips, which impacted the main index by 0,31%. The securities involved are Snam (-5,94%), Terna (-6,07%), Leonardo (-3,05%), Exor (-0,86%), Poste (-1,78%) and Stm (-2,11%).
GRILLO WANTS MORE CDP IN TIM, CONTE LISTENS TO HIM
Coupon also for Telecom Italia (-0,05%) hit by Cyclone Grillo: the share of CDP, claims the comedian in his blog, must rise to 25% to the detriment of Open Fiber and to the advantage of the creation of a single fiber optic network . For Giuseppe Conte it is "a good idea: it is one of the paths that we are evaluating even if I cannot give concrete solutions now".
PARIS -0,6%. FOR FCA/PSA CASH FLOW OF 15 BILLION
Weak session also in Paris (-0,62%), at the start of the week of the meetings of PSA (+3,6%) and FCA (+1,36%) the Redburn broker argues that, after the merger between PSA and FCA , the new company will record $15 billion of free cash flow.
Down also Madrid (-0,92%) and London (-0,76%). Bank of England Governor Andrew Bailey said the BOE would significantly reduce its balance sheet before raising rates. One way of explaining that it will not tolerate a high level of debt.
WIRECARD: 1,9 BILLION MISSING FROM THE APPEAL
Frankfurt -0,75%. Spotlight on Wirecard (-47%). In three sessions, the fintech specializing in electronic payments has lost 87%: the Bank's executive committee confessed in an official note that 1,9 billion euros are missing. Indeed, perhaps they never were. The auditors of Ernst & Young are also in the dock.
THE BTP TAKE FLIGHT AFTER THE PEACE WITH THE GERMAN JUDGES
The BTPs close in positive territory, accelerating towards the end, with a better performance than the rest of the sector. The 1,28-year bond trades at 5% (-173 points) on the lowest since the end of March. The Italy-Germany yield differential at 178 basis points from XNUMX at the start of the session.
The recovery was supported by the easing of tensions in Germany between the government and the Constitutional Court over bond purchases.
INTERPUMP AND INWIT CELEBRATE ENTERING SERIE A
In Piazza Affari, both Interpump (+5,6%) and Inwit (+2,4%) celebrated their arrival in the Ftse Mib index. Ferragamo, on the other hand, was sold (-1,1%), leaving the main Borsa Italiana index.
After last Friday's boom debut, an adjustment session for GVS, the Bolognese company active in the supply of filtration solutions and industrial masks. The stock dropped 1,53% after reaching a new all-time high of 10,62 euros compared to the IPO price of 8,15 euros.
FAR AGREEMENT FOR ATLANTIA (-2%). BACK AUTOGRILL
Neglected Atlantia (-0,3%) waiting to understand how the dispute with the government on motorway concessions will evolve, which should find a conclusion by the end of June. Autogrill does worse, down by 1,8%.
SPREAD OF IREN (+3%), TENARIS -1,7% DESPITE THE BUY OF GOLDMAN
Among the utilities, Iren leapt (+3,1%) after it won the tender for the acquisition of Unieco, a company active in the waste sector, beating the competition from A2A (-1%).
Tenaris falls (-1,7%) despite the promotion of Goldman Sachs.
TODAY THE AUTHORIZATION OF OPS INTESA/UBI
The banks moved little: Intesa San Paolo -0,14%, awaiting authorization for the Ops on Ubi. Unicredit -0,17%. the president of the Supervisory Board of the ECB, Andrea Enria, interviewed by Il Sole 24 Ore is open to new banking combinations.
SAFILO (-1,8%) BREAKS WITH MAX MARA
Safilo still down (-1,8%) after the halt to the licensing agreement for the sun and optical collections with Max Mara, which generated 2019% of Safilo's sales in 2.
Leap for Mondo TV (+4,8%), which has reached an agreement with Huawei to offer 58 animated television series in 26 countries via the Chinese giant's online platform.
EDISON WILL LIGHT UP TRIGORIA: ROME +1%
AS Roma +1% (the only share in the positive sector), after the agreement with Edison Energia which will work on the construction of a photovoltaic system to power the Trigoria site and the charging stations for electric cars.
