European stocks fail to rebound e Business Square it is the worst: after the crash the day before, it loses another 3,28%, falling to 17.870 basis points. The banks are unable to raise their heads and the spread remains on the levels reached yesterday at 224 basis points; while the yield on the Italian 1,38-year bond is +0,87%, that of the Bund flies ever lower, -XNUMX%.
On the other hand, the Italian situation is frightening, with the country burdened by a huge debt, by very modest growth even before the Covid-19 cataclysm and now brought to its knees by the epidemic that has attacked the most productive part of the country. To win the war against a sneaky enemy like the coronavirus the government has decided to extend the containment measures to the whole national territory and Italy has become entirely a protected zone. But for Lombardy, which is paying the highest price in terms of human lives, infections, the health and economic system, it is still not enough, it takes the closure of all activities for 15 days, with the exception of pharmacies and grocery stores. The executive will probably evaluate the request, but in the meantime hopes come from one of the blue chips in Milan for a much faster coronavirus test than the current one. It's about Diasorin, which has completed studies on this new kit and in fact scores an increase of 3,37%. Purchases also come back up Buzzi +2,37%; Ferrari +0,64%; stm +0,81%; Eni +0,8%; Leonardo + 0,64%.
They provide a ballast for the price list Atlantia -8,18%; A2a -7,17%; Finecobank 7,17%; Post -6,86%; Mediobanca -6,87%.
The other markets in the euro area also closed negatively: Frankfurt -1,46%; Paris -1,51%; Madrid -2,8%. More contained damages a London -0,27%; Zurich -0,41%. Nervousness also inhabits a Wall Street, volatile but currently in progress. The fiscal stimulus measures promised by Donald Trump contribute to move hopes and disappointments, even if sources close to CNBC have stated that the plan is not yet ready.
In any case, it is not possible to get out of the short circuit triggered by the Covid-19 epidemic, after yesterday's sales on all the markets also due to the collapse of the Petroleum. Today black gold rears its head, thanks to Russia's willingness to negotiate with Opec: Brent +9,28%, 37,55 dollars a barrel. Instead, the race for bullion weakens: -1,35%, 1653,20 dollars an ounce. On the currency market, the euro is in reverse against the dollar at 1,13, pending the ECB Governing Council meeting on Thursday. A very different appointment than usual considering that almost all central bank staff are working remotely after an employee tested positive for the coronavirus and that the governor of the Bank of Italy Ignazio Visco himself will participate in the discussion of the governors by video conference. Observers believe that a further cut in interest rates on overnight deposits by 10 basis points to -0,60% and measures to guarantee further liquidity to the economic system through the banking channel will be probable.
