Il European rearmament pushes today the bags from the Old Continent to close on new highs, thanks to the powerful Defense stocks earnings, while Wall Street for now it remains at the stake waiting for the duties for Mexico, Canada and China which are due to come into effect tomorrow.
Square Business, +1,07%, regains 39.069 basis points with Leonardo in orbit at 44,78 euros per share and an increase of 16,13%. The mood of the Milan stock exchange was not affected by the fact that 2024 growth stopped at 0,7% according to Istat, against the 1% estimated by the government.
Frankfurt achieves a new historical record above 23 thousand basis points (+2,91%), led by Rheinmetall +15,08%. Waiting for tomorrow's President of the European Commission, Ursula von der Leyen, present the “Rearm Europe” plan, The German press also contributed to giving a boost to the sector today, according to which the CDU and the SPD, the parties negotiating for the new government, are considering two special funds of 400-500 billion euros for defense and infrastructure.
In the rest of Europe Paris it appreciates by 1,09%, Amsterdam + 0,92% London + 0,75% Madrid + 0,44%.
In the star-spangled stock market, it attempts a rebound Tesla (+1,42%), after the promotion of Morgan Stanley.
They also run the Capri Holdings (+5,82%), following press rumours according to which Prada (+3,47% in Hong Kong) is reportedly getting closer to the acquisition of Versace (owned by Capri) for approximately 1,5 billion euros.
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Inflation under control in the Eurozone, according to the ECB
In Europe The start of the day had been uncertain, but the risk appetite strengthened as the hours passed, also leveraging the news that the EU Commission to give car manufacturers three years, rather than just one, to reach the CO2 emission targets in 2025. Inflation in the bloc also seems under control (2,4% in February, against 2,5% in January, but expected to be 2,3%) in view of the Thursday ECB meeting, which is expected to result in another rate cut of 25 basis points. For the future, the European Central Bank will have to find a difficult squaring of the circle, in a context of great uncertainty, between the Russian-Ukrainian war and the potential US trade war, which should soon turn words into actions.
In the US, theISM Manufacturing FebruaryThe index held steady, but producer prices jumped to a near three-year high and materials took longer to arrive, suggesting that import tariffs could soon hamper production and accounting for much of the grumbling on Wall Street.
The euro strengthens
The foreign exchange market is strengtheningeuro, which is once again approaching 1,05 against dollar.
The cryptocurrency boom, which was ignited yesterday by the intention of Trump to create a US strategic reserve in digital currencies. Bitcoin is currently trading at just over $90.
Among raw materials, purchases on thegold (spot gold +1%, 2.888 dollars per ounce), while the Petroleum.
Finally, we appreciate the gas on the Amsterdam Square, which is approaching 45 euros, after the failure of the Trump-Zelensky meeting and with peace in Ukraine moving away. The market does not seem to give too much importance to the FT rumors that hypothesize the reopening of Nord Stream 2 (for Russian gas to Europe), with the support of American investors.
Piazza Affari, banks in evidence
The top of the list today goes to Leonardo and Iveco (+6,15%), but also the banks are once again in evidence on Piazza Affari.
The most popular sector title is Unicredit +2,69%, on the day of the CEO's visit Andrea Orcel in Rome for a series of meetings with government officials. On the other hand, there are many dossiers opened by the bank that are liable to evolution, from the public exchange offer on Bpm bank (+1,33%), to the strengthening in Generali (+0,95%) on the climb on the German Commerzbank (+4,15% in Frankfurt).
Other stocks of banks involved in various capacities in the ongoing banking Risk complex are also highlighted. Among these Popular of Sondrio + 1,84% Ps + 2,06% Bper +1,96%. It also shines Understanding + 1,52%.
Also in the top ten of the day Buzzi + 2,34%.
The blue chips that are losing ground are Amplifon -2,46% Saipem -2,18% Prysmian -1,51% Diasorin -1,43%.
Weakness also for utilities starting from Enel -1,05% and Terna -1,04%.
Outside the main basket, the rally continues Juventus + 12%.
Spreads down, but rates rise
Eurozone government bonds fell slightly today, ahead of the ECB meeting and the prospect of massive new public investment.
Lo spread between 10-year BTPs and Bunds of the same duration, it closes with an improvement, at 105 basis points, in a context in which the Italian bond is doing better than the German one. At the close, the yield of the BTP is indicated at 3,54%, while that of the Bund is at 2,49%.
