Il European price lists confirm their rally, hit new records and closed on the rise again today, driven by corporate profits and in particular by the retail sector, where Inditex (Zara), +8,13%, makes Madrid the queen of the day, with a jump of 1,61%.
Well Milan, which also sees a sharply declining spread.
Piazza Affari rises with Leonardo, Eni and banks
Business Square it appreciated by 0,39% to 33.885 basis points afterwards having exceeded 34 thousand points in the session base thus updating new highs since 2008. They shine on the price list Leonardo (+3,45%) and the largest banks, Understanding (+ 1,31%) and Unicredit (+1,29%), the latter also supported by the words of CEO Andrea Orcel who said he was confident in using part of the excess capital to make purchases or weddings.
The best blue chip of the day is Leonardo, in an increasingly heated geopolitical context that favors the sector globally. The defense giant also appreciates itself following the presentation of the plan to 2028 with objectives of alliances and acquisitions.
Archive a session on shields Eni, +1,95%, driven by increases in crude oil. Furthermore, the six-legged dog concluded the buyback program launched last May, purchasing shares worth approximately 2.2 billion euros.
Bene Azimuth +3% and cucinelli +1,13%, while Telecom (+0,71%) finds its positive sign again after the recent and massive losses.
The results are stunning Erg, -4,93%, penalized by weaker than expected estimates for the year.
It is still letter for A2a, -2,58%, which in recent days presented the accounts and the strategic plan to 2035. Mediobanca Securities lowered the target price on the stock to 1,87 euros, with a Neutral rating "which above all reflects the acquisition of the assets on electricity distribution in Lombardy by Enel which, with significant multiples, reduces the value of the stock by 5%.
The electric giant, on the other hand, increased by 0,94%.
They retreat stm -1,94% and stellantis -1,28%.
Spreads down
The Italian card closes a brilliant session: lo spread between BTPs and Bunds ten-year duration drops to 124 basis points (-4,43%), with the Italian bond seeing the yield drop to 3,57%, while the German one is at 3,34%.
Una injection of confidence on the next monetary policy moves came today from the governor of the Bank of France and ECB member Francois Villeroy de Galhau, who said the European Central Bank will likely start cutting rates in the spring, between April and June, as a “victory” against inflation is in sight.
Europe in record zone
The mood on continental stock markets was buoyant today despite the decline in industrial production of the euro zone (-3,2% in January compared to the previous month) and theWall Street's uncertain start, which only slightly cooled the boiling spirits.
The square thus participated in the general euphoria Paris, which stops above 8.100 points, with a gain of 0,62%.
Frankfurt during the day it went beyond 18 thousand points, a level never seen before, to close at 17.981 for an increase of 0,22%. The 2023 accounts and 2024 forecasts contributed to moving purchases and sales. In particular, those attracting attention were Zalando + 19,16% E. Hon + 6,57% Adidas +3,66% and Volkswagen, -5,52%, the latter declining despite a maxi dividend.
London it appreciates by 0,31% and Great Britain also records a slight increase in GDP in January (+0,2%).
Uncertain pace on Wall Street. The ban on TikTok is getting closer and closer
Wall Street moves with an uncertain pace and retreats due to the sales on technology stocks (Nasdaq -0,5%), which suffer from the rise in government bond yields. The movement in Bonds began yesterday, with realizations prevailing after February's better-than-expected consumer price data.
Yesterday, however, new records were reached, thanks to purchases of securities linked to artificial intelligence starting from Nvidia (which is currently losing 3,5%), while today the favorable vote of the Chamber for ban Tik Tok in the USA, suspected of espionage. China promises retaliation against Washington.
However, the securities linked to the companies remain in cash cryptocurrency, after bitcoin exceeded 73 thousand dollars overnight (currently 72.456).
Dollar down slightly, oil rally
Inflation remains tough in the United States, but not so much as to further postpone market forecasts of a first rate cut by the Fed, seen again in June.
In this context today thedollar index is down slightly as investors brace for tomorrow's US data on retail sales, producer prices and jobless claims, looking for further evidence of the economic slowdown.
THEeuro changes to progress around 1,094.
Among raw materials oil runs: Brent, May 2024, rises by 2,2% to 83,72 dollars a barrel; Texan crude oil marks +2,4%, 79,46 dollars a barrel.
shine againgold and spot gold is up 0,6% at $2.172,43 an ounce.
