European stocks close sharply higher supported by better-than-expected quarterly results and growing optimism about a possible peace in Ukraine, which has agreement reached with the US on rare earths with the US, in view of the new meeting between leaders scheduled for Sunday in London, but also of the summit on March 6 in Brussels, the day in which the EU Commission will present a first document for the relaunch of common defense that includes the use of the national safeguard clause to separate the expenses of each member state from the deficit and the increase in private investments with the support of banks, starting with the European Investment Bank. In the meantime, the United Kingdom has announced an increase to 2,5% of defense spending from 2027.
Investors are also keeping a close eye on the United States, where stock indices Wall Street are recovering after the fourth consecutive decline of the S&P 500 and Nasdaq, awaiting the Nvidia quarterly, arriving in the American evening, after the markets are closed, which will give important indications on the health of the sector even in the face of "low-cost" alternatives such as the Chinese DeepSeek.
Milan tonic above 39 thousand points, the highest since December 2007, despite the collapse of Stellantis after the accounts. Campari and the banks with Intesa, Unicredit and Bper are pushing the price list up. Saipem, which started off with a strong rise, reduces its earnings and closes in the red despite a positive 2024 balance sheetThe difficult time continues stmicroelectronics, weighed down by concerns about chips and AI, and nexi after Worldline's accounts.
In other markets, the spread between BTPs and Bunds is down to 105 basis points, with the yield on the Italian benchmark ten-year at 3,49%. The currency is stable, with the exchange rate euro/dollar in the 1,05 point area. Contrasted the Petroleum, the falls gas.
