Europe reaches the final goal of the session with a slight drop, indifferent to the in tune start of Wall Street where John Elkann and Carlos Tavares rang the opening bell and stellantis started with the turbo (+10,2%). The Old Continent appears to be held back by infections and by concern over delays in the delivery of vaccines by Pfizer, while Germany is preparing to extend the lockdown until February 14 and to impose the use of surgical or FFP2 masks, banning scarves or similar protections. Closing Frankfurt loses 0,2%; Paris -0,33%; Madrid -0,66%. London it is flat, -0,09%, although it records a record of 1610 deaths in 24 hours.
Business Square it closed with a decrease of 0,26%, on the day of the field vote of confidence in the government by the Senate and just as Matteo Renzi, the one who posed the political problem causing the ministers of IV to resign, holds his speech. If the spread can be used as a thermometer of the crisis, it must be said that the fever is low. The yield differential between 10-year BTPs and Bunds of the same duration fell to 111 basis points (-4,56%) and the rate on the Italian bond fell to +0,55%. However, the favorable performance of bonds is not reflected in the stock market performance of the banking sector. Lender stocks are mostly down as of Mediobanca -1,76% and Bper -1,43%. Bucking Unicredit +0,15%, also favored by the increase in the target price by JP Morgan, (to 9 euros from the 8 euros indicated previously), while the recommendation remains "neutral". The bank is still looking for a new CEO following the resignation of Jean Pierre Mustier. According to Reuters, Unicredit he would like to arrive at a decision by February 10, when the board of directors will be convened and among the names circulating those of Andrea Orcel and Fabio Gallia.
Sales hit Finecobank -2,53%; Telecom -1,94%; Ferrari -1,93%. Still in light today Diasorin +3,01%; stellantis +2,6%; Cnh +1,03%; Prysmian + 0,92%.
Overseas, on the eve of Joe Biden's swearing-in, the American indices instead proceed solidly in positive territory with increases of around half a percentage point, favored by the good performance of the accounts of the big banks, after the presentation of the quarterly numbers with profits higher than expected by Bank of America and Goldman Sachs. Meanwhile Janet Yellen, chosen by the president-elect as Treasury secretary, is speaking to the US Senate Finance Committee. In her speech, released in advance to the press, the former Fed chairman argues that interest rates at historic lows make it possible to "act big" against the crisis, even if this will lead to an increase in public debt. In essence, Yellen thus responds to the criticisms of those who fear that the 1900 trillion Biden plan could weigh on public finances and cause new taxes.
Among the most effervescent stocks, making its debut on the New York Square (closed on Mondays for holidays) is therefore Stellantis, the company born from the merger between FCA and PSA which yesterday debuted in Milan and Paris with an 8% leap about
In his first press conference, CEO Carlos Tavares claims that Stellantis is the beginning of “an exciting journey. A company well positioned to compete in global markets, with 39 electrified vehicles available by the end of 2021. A group of significant size and with consolidated commercial positions in Europe, North America and Latin America”. The merger will produce synergies of €5 billion, 80% of which will come from savings over the next four years.
"The good news for Italy is that Stellantis will act as a shield, as a protection for some plants, it does not represent a risk". The CEO also states that all brands will be protected and maintained.
On the currency market theeuro-dollar goes back to 1,21. Positive raw materials. The future Brent March 2021 rises by 2,12% to 55,91 dollars a barrel. The future gold February 2021 +0,6%, 1840,75 dollars per ounce.
