The long wave of the Turkish earthquake, after Erdogan's dismissal of the central bank governor, sinks Madrid -1,7%, but moderately laps the other European lists, which close in contrast.
Business Square it appreciated by 0,26% to 24.262 basis points, led by Classic Ferrari for sale +4,88% and stm + 3,89%.
The climate is analogous to Frankfurt 0,29%, despite the concrete possibility that the lockdown in Germany will be prolonged and the economy will suffer. The Bundesbank warns that “the economy is likely to experience a sharp contraction in the first quarter of 2021… especially in the contact-intensive services sector”, due to the anti-Covid containment measures. The German government will also suspend tax-tight rules again in 2022 and will have to take on more debt than expected in 2021. However, the shares of automakers continue to travel strongly, in particular Volkswagen + 5,9%.
In the rest of Europe well London +0,27%, down Paris -0,49%. The worst crash, however, is that of the Ibex 35%, overwhelmed by the sales of bbva (-6,88%), a bank that makes about 14% of its profits in Turkey. In the morning, Istanbul lost almost 10% and the Turkish lira plunged as much as -17% against the dollar due to the dismissal of Naci Agbal, in office for less than 5 months, after he had raised rates more aggressively than the expected.
At the moment the Turkish currency is recovering and yielding about 7%.
Sul currency market the euro appreciates against the greenback at around 1,193. Meanwhile, Jerome Powell rejects cryptocurrencies and, speaking at the Bank for International Settlements' innovation summit, defines them as "more a speculative instrument than a means of payment". The Fed is in no hurry to adopt a digital dollar, which will need political backing and broad public support. Private cryptocurrencies, he adds, are not a substitute for central bank money and are not a “good safe haven”. Bitcoin doesn't take it too much and loses 1% against the dollar, trading at 56.687.
The president of the US central bank will again be the protagonist this week with testimony before two congressional committees, tomorrow and Wednesday.
In the meantime, after a random start, the main indexes of Wall Street, driven by the Tech sector. Tesla gains 6,4%, given that Cathie Wood's Ark Invest has set a three-year target price of $3.000 and its performance acts as a driving force for the S&P500 and the Nasdaq. Among the highlighted stocks is AstraZeneca, which jumped 3,3% (same performance in London) after its coronavirus vaccine proved safe and 79% effective in preventing symptomatic disease in US clinical trials involving more than 32.000 people, according to reports from the pharmaceutical company, which it claims has not experienced any increased risk of serious blood clots and will soon seek emergency authorization for use of its vaccine in the United States.
The yield of T-Bonds is falling and prices are rising due to the collapse of the Turkish lira which fuels fears of a new currency crisis. The 1,68-year rate is around 3%, down XNUMX% from the previous closing.
They are little moved raw material. The Brent future, May 2021, yields 0,5%, 64,20 dollars a barrel.
Returning to Piazza Affari, the Ferrari race led the way for purchases also on Exor +2,06%. Instead in red Stellantis, -1,12% and Cnh -1,06% after last week's gains. In the automotive sector it suffers Pirelli -2,3%.
Banks file a weak session: Bper -2,51%, still paying tribute to the decline in passion for Banco Bpm (+0,12%), by the CEO Unipol (-0,5%), Carlo Cimbri. It should be remembered that the insurance company is the main shareholder of the Modena bank. Mediobanca (-0,57%) believes that M&A is “the main issue in Italy for almost all medium-sized banks, including Bper. We see a potential merger between Bper and Bpm creating benefits for all parties involved from an industrial and financial point of view”.
Unicredit it loses 1,18%, but recovers in the final from the lows reached following the Turkish alarm.
In the lower part of the price list too Diasorin -2,03% and Leonardo -1,88%.
Saipem it lost 1,48%, despite the announcement of a billion dollar contract in Qatar.
On the rise stm, on the ex-dividend date of $0,42 per share. Well Amplifon +2,07%. Savings managed with are appreciated Post +1,6%; Finecobank +1,46%; General Bank +0,79%; Azimuth + 0,68%.
Out of the main basket suffers the Juve(-0,76%) after the home defeat against Benevento and the increasingly difficult race for the Scudetto.
The secondary is stable: lo spread between the ten-year Italian and German it closes unchanged at 96% ((-0,06%) basis points, with a yield on the BTP of 0,65%. The ECB's Pepp purchases were 21,05 billion in the last week.
