Le European stocks hit rebound in the last session of the week, thanks to powerful injections of public money to relaunching the economies (from Germany to China) and the possibility that US should avoid “shutdown”, the partial shutdown of government activities due to lack of funds. Meanwhile, the Bear is moving away from Wall Street despite the collapse of consumer confidence, who fear a resurgence of US inflation due to tariffs.
In Europe Frankfurt leads gains and closed with a progress of 2,11%, at 23 thousand basis points, followed by Business Square +1,73% (at 38.655 basis points). It is mainly investments in defense that are driving the sector's stocks, from the German Rheinmetall (+6,21%) in Italian Leonardo (+7,13%). It shines a little less Paris +1,13%, due to the Kering's slip-up -11,88% who welcomes with this enthusiasm the Appointment of Demna Gvasalia to new artistic director of Gucci. Well Madrid + 1,46% Amsterdam + 0,85% London + 1,1%.
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German Investments Galvanize Europe
In Europe the good morning was seen from the morning in the wake of the Asian Market Performance as China announces new monetary stimulus on Monday. Sentiment then strengthened with the news that in Germany CDU-CSU, SPD and Greens have reached an agreement on investment unlocking. The Constitutional Court also rejected several opposition parties' challenges to the future government's plan. The decision paves the way for the Bundestag to convene next week to consider the proposals of the election winner, Friedrich Merz, to reform the constitutional rules on debt and to establish a 500 billion euro infrastructure fund.
In the background there is also the hope of a truce between Russia and Ukraine, with the mediation of the United States, even if there still seems to be a lot of progress to be made.
Today then they did not register (for now) more shocks on duties, while the warning from the president of the ECB has arrived Christine Lagarde. “If we were to go into a real trade war that would lead to a severe slowdown in trade,” Lagarde said, “that would have serious consequences for growth around the world and for prices around the world, but particularly in the United States.”
Wall Street Celebrates Despite Collapse in Consumer Confidence
Even in New York the things they are doing well in the American morning and the main indices seem set to close the day with a smile (DJ +1,39%, S&P 500 +1,79%, Nasdaq +2,32%) after having cried tears for 5.280 billion dollars of capitalization lost in the last three weeks. Yesterday the S & P 500 closed in correction, -10,1% overall from the record of February 19.
It has helped restore some confidence in the star-spangled market Chuck Schumer, a leading Democratic figure in the Senate, declaring that will vote for it of a Republican bill for temporary funding. Investors are therefore muting their disappointment for consumers, whose morale is low because of the tariff war. The confidence, according to the index compiled by the University of Michigan, fell in March to the lowest level in the last two and a half years (57,9 from 64,7) while inflation expectations rose (to 4,9% from 4,3%).
La The Fed will meet next week which, in this context, will probably take its time before adjusting rates.
Gold hits $3000, then falls
The risk is attractive, but thegold is a guarantee. So in these turbulent days investors have decided to put their gold bars in their vaults. Spot gold has today surpassed the $3000 threshold, touching an all-time high of $3004,95 an ounce today, although prices have now deflated a bit to $2982,69 (29994,01 for the April 2025 contract).
È little moved the oil, with Brent at $70,33 a barrel.
On the currency market theeuro remains below 1,09 although showing a slight upward trend.
Piazza Affari, Merz turbocharges the stock markets
Le blue chip of Piazza Affari seem to be seduced by the new plans of the future Chancellor Merz. This is how the stocks of companies that can benefit from this change of register are celebrating, such as Iveco +7,18% (which could sell its military activities to Leonardo), Buzzi + 7% Leonardo. The effects are also visible outside the main basket with Fincantieri +10,51% and Avio +5,99%. The group that produces propulsion systems for space vehicles and missiles yesterday announced slightly better-than-expected fourth-quarter results and analysts remain positive on 2025 thanks to the possible growth, above guidance, of the order book.
Returning to blue chips, another rally session is over Telecom Italy (+6,19%), driven by good analyst ratings. In particular, the stock is “Buy” for Kepler Cheuvreux, which sees a target price of 0,39 euros from 0,35 previously. Barclays also raised the target price to 0,40 euros, confirming the 'overweight' rating.
Among the banks it stands out Unicredit +3,25%, which the ECB gives green light to acquisition of a direct participation at Commerzbank up to 29,9%. The approval of the German Federal Competition Authority is now awaited. Also under special observation Bpm bank (+2,37%), which yesterday received the approval from Consob for the takeover bid on Anima, which will start on March 17.
Stocks that moved against the trend on the positive day were Diasorin -2,67% Snam -1,39% nexi -1,07% Amplifon -0,87%.
He finds no reason for optimism Campari -0,48%, sunk yesterday by Donald Trump's threat of 200% duties on alcohol.
The accounts do not support cucinelli, -0,09%.
Stable spreads
The secondary registers a bit of a storm, but then closes in green. It spread between a 10-year BTP and a Bund of the same durationfalls to 106 basis points, with the Italian stock seeing a yield of 3,94%, while the German one at closing is indicated at 2,88%.
