A wave of purchases it poured out today on European stock exchanges, which close around and above their recent highs, despite theWall Street's cautious trend. What ignites the propensity for risk is a earnings season to be framed, while the awaited arrives rate cut by the central bank of england, government bond yields fall and there is a temporary calm on tariffs.
Business Square updates its top since 2008 e grabs 37 thousand basis points (37.121), with a growth of 1,48% due largely to purchases of financial securities and on Buzzi, + 7,02%.
Frankfurt is a record, 1,61%, at 21.899 basis points, dragged by Siemens Health (+5,9%), which exceeded expectations with the fourth quarter results.
Paris soars by 1,47% and Madrid of 1,68%, while it is more cautious Amsterdam + 0,62%.
London, +1,18%, scaled back its gains at the end of the session, although it still marked all-time highs that during the day even touched 8.767 basis points. The Bank of England has cut today interest rates of 25 basis points, bringing them to 4,5%, after a couple of months of pause and concerns related to the latest disappointing British macroeconomic data and the small rise above the 2% threshold. The decision of the British central bank weighs on the pound, also because the institute has practically halved its economic growth forecast for the country this year (to 0,75% from 1,5%).
The market remains on the sidelines with regards to news relating to conflicts. Lukewarm winds of peace begin to blow from Moscow, with Russian media reporting that preparations for the meeting between Putin and Trump are well underway. In the Middle East, however, theEgypt warns that Israeli support for Trump's plan for the displacement of Palestinians from Gaza threatens negotiations on the second phase of the ceasefire and for the return of the hostages.
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Wall Street opposed
Di Wall Street is in a less bubbly mood after the first few hours of trading, with the Dow Jones which is moving in negative territory (-0,27%) with some disappointing estimates such as those of Honeywell -4%, which presented full-year guidance below expectations and announced the split of the conglomerate into three independent companies. They suffer furthermore i semiconductor sector stocks after the publication of the accounts: Qualcomm e Arm -4,8% and -6,8% and Skyworks Solutions -25%. Back off Ford Motor (-4%), who yesterday defined the year ahead as difficult.
Against Ralph Lauren flies (+15%), which presented a better-than-expected quarterly result and a full-year guidance revised upwards. Amazon (+0.66%) will present its earnings after the markets are closed, but awaits the appointment with cautious optimism.
From the macro front we look at the increase in the number of workers who filed for unemployment benefits for the first time in the week ending February 11.000, (+219.000 Units to 214.000, expectations were for a figure of 208.000). The previous week's number of claims was also revised to 207.000 from XNUMX.
Dollar rises, gas runs
On the currency market the dollar appreciates against the main European currencies. In particular, after the BoE's cut, the pound lost ground, falling by 0,7% to an exchange rate of 1,2416, while theeuro depreciates of 0,3% against the greenback and sees a cross of 1,0367. More indications on monetary policy in the eurozone could come future, when the ECB to publish its estimates updates of the so-called neutral interest rate.
In the meantime, however, some concern about high prices is induced by the gas prices rise, while in the background remain the concerns about tariffs.
Today in Amsterdam the prices of methane future briefly topped €55 per MWh, hitting a two-year high, as colder-than-expected weather pushed up demand and depleted stocks. Temperatures in northwestern Europe are also expected to drop, accelerating the depletion of stocks. Currently, the gas storage is around 51% of capacity, up from 69% a year ago.
The prices of the are also currently showing a fractional increase. Petroleum, while the 'gold retreats slightly from the new highs reached, but remains above $2849,25 an ounce.
Piazza Affari, everyone's crazy about banks
I Financial stocks are the protagonists of the Piazza Affari session and it is above all the banks that are driving investors crazy.
Ps closed at +1,43% a volatile session, in which the stock was on a roller coaster ride with the fourth quarter results above market expectations. In the call with analysts, the top management also returned to the issue Mediobanca (+3,18%) but without providing much additional detail.
Maximus Doris he said theSiena's ops on Piazzetta Cuccia it was for him "a nice surprise”. The number one of Banca Mediolanum (+2,89%) released the comment on the occasion of the results of the savings management company that were better than expected. Banca Mediolanum among other things, he is a historic shareholder of Mediobanca with a 3,49% share and does not seem so willing to don the armor of the white knight to defend Piazzetta Cuccia from the Sienese.
On this occasion Doris examined the complex bank risk being defined. Asked whether other actors could enter the field, he declared: “anything can happen given the domino effect of operations that have taken place in recent months. It started with Unicredit on Commerzbank, then Banco Bpm on Anima, Unicredit on Banco Bpm up to Mps on Mediobanca". As for the operation of Generali-Natixis, the entrepreneur sees no “consequences for our business”.
The stocks mentioned by the entrepreneur are almost all at the top of the Ftse Mib today: so Unicredit it appreciates by 3,54% e Bpm bank of 4,89%. They also archive a cash session Bper + 4,36% Pop from Sondrio +4,1% and the reference shareholder of both Unipol +2,91%. Well too Understanding + 2,98% Generali +1,57%, while Anima limits gains to 0,5%, after the rally on the day before.
A Energy stocks are losing ground e Leonardo -2,83%.
So they retreat A2a -2,21% Snam -1,15%. Enel -0,86%, Hera -0,83%, just to mention the most significant drops.
Spreads and rates falling
The green also shines on the secondary, where it spread between Italian and German decennial retreats to 107 basis points (-1,66%) and rates are falling. In particular the BTP yield drops at 3,45% against the Bund's 2,38%.
