After a morning of caution, in the early afternoon the stock markets headed more decisively on the upward path. At 15 pm Milano earn 0,8%, Paris 0,7% and Frankfurt 0,5%. More timid London (+0,15%).
The positive outcome of the last auction of government bonds affects the performance of Piazza Affari. The Italian Treasury placed this morning 10-year BTP for 3 billion euro, the maximum amount offered, with interest rates falling below 4%. The average yield fell to 3,81%, from 4,11% at the analogous auction in December. Demand was stable, with a coverage ratio of 1,32.
Also placed all the 4 billion euro of the new 5-year Btp (May 2019) with an average rate falling to an all-time low of 2,43%, from 2,71% in December. Demand is improving, with the coverage ratio rising to 1,49 from the previous 1,28.
The Ftse Mib is driven by the rebound of the banks, on which sales have been unleashed in recent days (including Banco Popolare +4,43% and Mediobanca +2,15%), and the good performance of Telecom Italy (+2,2%, on which the Egyptian tycoon Naguib Sawiris confirmed his interest for the company) Fiat (+2,3%), Tenaris (+ 2,4%) and stm (+4,37%). At the bottom of the list they travel Pirelli (-6% later the denial of Tronchetti Provera on a possible interest from Goldman Sachs) e Tod’s (which he posted disappointing accounts, cashing in several downgrades from brokers).
Good news for the markets comes from the US economy United States, than in the fourth quarter of 2013 grew by 3,2%, fully hitting the analysts' estimates. US consumer purchases and exports in the fourth quarter offset declines in government and real estate spending. In 2013 the growth was 1,9%.
The positive numbers also gave momentum to Wall Street. In the aftermath of a session characterized by new tensions coming from the emerging markets and the Fed's decision to reduce the bond purchase plan, today at the opening the Dow Jones advanced by 72 points (+0,47%), the S&P 500 by 15 points (+0,83%) and the Nasdaq by 50 points (+1,22%).
Il Petroleum in March, it jumped 1,17%, to 98,55 dollars a barrel, while thegold in April it dropped 1,73%, to 1.240,40 dollars an ounce.
