Piazza Affari rises, the Btp-Bund spread falls. The first stock market test is positive for the Conte government and the market appreciates that a phase of strong uncertainty and institutional chaos that has kept investors in suspense in recent days has come to an end, at least for now. To reassure the general picture there is also the probable replacement of the Spanish premier Mariano Rajoy, popular leader, with the socialist Pedro Sanchez. It is no coincidence that the Milan and Madrid Stock Exchanges shine in the map of increases on European stock exchanges, the former growing by 2,76% and the latter by 1,25%. Also the other stock exchanges of the Old Continent are healthy, with Paris growing by 1,13%, Frankfurt by 0,72% and London by 0,68%. In Milan, the leading sector is that of banks (+4,6% in the sector), thanks also to the drop in the spread. Banco Bpm flies (+6,9%) after transfer of the Npl package. The euro is stable at 1,16 dollars.
The other positive news, in fact, concerns the spread between the BTP and the German Bund, which fell sharply in the first trading sessions of the session. The yield spread falls below 220 basis points to 218, with the 2,56-year Treasury rate at 117%. And the spread on the two-year maturity also fell, falling to 0,51 basis points with the rate at 343%. At the peak of the institutional crisis, just three days ago, the spread between the two-year BTP and the corresponding German security had shot up to 2012 basis points, marking the highest since 230. During the session, the spread hinted at some upward movements but still well below the 10 mark at 40:XNUMX on Friday morning.
Asian markets, on the other hand, closed the session in the red. Despite the détente between the US and North Korea, investors are fearful of US President Donald Trump's decision to extend tariffs on steel and aluminum to Europe, Canada and Mexico. Instead, the Italian issues remain in the background, with the end of the gestation of the government. In the wake of Wall Street's negative close, Tokyo dropped 0,14%. Chinese stock markets also fell, with Shanghai losing 0,9% and Shenzhen 1,45%, while Hong Kong was down 0,16%. Sidney down, down 0,32%. Seoul, on the other hand, is growing, gaining 0,64%. Futures for both the European Stock Exchanges and for Wall Street were also positive. The euro was essentially stable, at 1,1674 against the dollar, against 1,1689 yesterday after Wall Street.
