Le European stocks hit rebound today and close in progress at Frankfurt towing (+3,45%), after the agreement between CDU, CSU and SPD on an upcoming tax reform in Germany that should give new impetus to the economy by loosening the brake on debt. The German push favors a Euro rise of 1,4% against the dollar to an exchange rate of 1,076, the highest since November 2024, but the pressure on the region's government bonds is increasing. eve of the meeting of the ECB's monetary policy. The German Bund rate rose by 31 basis points, the highest in 30 years.
Piazza Affari recovers 2,08%, returning to 38.519 basis points, in a roller-coaster week, with the main index breaking above 39 basis points on Monday and plunging below 38 on Tuesday. benefit from the news that arrive from Berlin on Ftse Mib are titles like Buzzi +16,3% (the company produces cement), while among the banks Unicredit resumes its run and soars by 7,42%, in a context of a possible increase in public debt in Europe that could clip the wings of a dovish ECB. Enthusiasm returns for defense stocks, with the European rearmament race, while auto stocks recover while waiting to understand the EU plan and developments on American duties.
Earnings are robust at Paris +1,56% and Madrid +1,43%, while Amsterdam yields 0,5% e London is flat, sitting only marginally touched by the enthusiasm of the eurozone.
"Whatever it takes", said the German Chancellor-designate yesterday Friedrich Merz, quoting the famous phrase by Mario Draghi. And if even Germany is preparing to loosen the brake on debt and launch a special fund of 500 billion euros over ten years for investors there is reason to celebrate.
READ MORE: Stock Market, today's live broadcast March 5
Wall Street, disturbed climate
Overseas the climate is much colder, after President Donald Trump's first State of the Union address to Congress. The market does not share the tycoon's enthusiasm for the all-out trade war and is moving cautiously, even though the US Secretary of Commerce, Howard Lutnick, told Fox News that the president could find a Tariff Compromise with Canada and Mexico and that an announcement to this effect could be made today.
Meanwhile, the star-spangled economy is showing new signs signs of tiredness and private employment data disappoint, ahead of the more comprehensive February report due on Friday.
According to the monthly report compiled by Automatic Data Processing (ADP), the agency that prepares pay slips, 77.000 jobs were created in February, compared to the previous month, while the forecast was almost double (148.000).
“Political uncertainty and a slowdown in consumer spending may have led to layoffs or a slowdown in hiring over the past month,” he commented. Nela Richardson, chief economist of ADP. In addition, growth in the US service sector accelerated in February (53,5 points from 52,8 in January), in parallel with an increase in 'input' prices which, together with the recent surge in raw materials, indicates the possibility of a rise in inflation in the coming months.
As for Ukraine, the stock exchanges are also hoping for a Resumption of dialogue between Trump and Zelensky, although today's confirmation is that the United States has decided to to interrupt even sharing intelligence information with Ukraine.
Oil Crash
Among the raw materials while thegold stays in tune well over 2900 dollars an ounce, in a picture that remains uncertain in many respects, the crude oil gets worse the losses already seen yesterday. Also putting pressure on prices are higher-than-expected weekly oil inventories in the United States. Brent and WTI futures are down about 4%, with prices retreating to $68,65 a barrel and $65,47 a barrel, respectively.
The price of the April futures slips by about 5%. gas in Amsterdam, for a price around 41,335 euros per MWh.
Piazza Affari, Buzzi, Unicredit, Iveco Campari soar, utilities retreat
The main list of Piazza Affari records brilliant performances for stocks that benefit from the news of the day. Buzzi goes into orbit on the expectations of the German infrastructure fund of 500 million euros to invest in transport, energy networks and housing, in addition to defense spending. Another Italian cement company is also benefiting from this possibility, Cementir (+ 7,84%).
On the main index, massive purchases of banks have returned, led by Unicredit. The performance was fueled by rumours of a possible growth in Generali (+1,07%) to a threshold close to 10%. Furthermore, according to Il Messaggero, the bank's CEO, Andrea Orcel, he would not be in a hurry to launch the takeover bid on Banco Bpm (+5,08%) which in the meantime has obtained the Bank of Italy gives green light to takeover bid for Anima (+0,43%). The top ten of the day also includes Ps + 4,33%.
Hopes of a tariff deal have supported the automotive sector: Iveco + 6,62% Stellantis + 4,51%.
Campari sparkles + 7,01 % after the accounts. Finally grabs a rebound too stm + 5,53%.
Prysmian +4,95% is among the best blue chips after having won a four-year agreement, plus two optional extension periods of two years each, to supply ultra-high voltage underground cable systems to Statnett, the transmission system operator in Norway and a key player in the electricity system in Northern Europe.
The defense sector is back in the spotlight on expectations of strong investments in Europe, Leonardo + 3,68%.
The sector that has instead the utilities suffered the most, weakened by the rate hike: Snam -4,45% Terna -4,3% Hera -4,08% Italgas -3,77% Enel -2,07%.
Oil stocks also fall today Eni -0,9%.
Spreads down, but yields rise
The strong sales on the Bund favored a green closing for the Italian paper today: the spread between the 10-year BTP and its German counterpart it falls to 106 basis points, but the yield also rises for the BTP to 3,84%, against the 2,78% of the Bund.
