It's a crackling end of the year for the stock exchanges, illuminated by one firework after another. In addition to the advance of vaccines, an unprecedented diplomatic activism contributes to the boom. After the Brexit deal it's the turn of the investment agreement between the European Union and China with which Angela Merkel could round off the semester of German presidency of the EU. The German stock market has reached its highest since February, the start date of the pandemic in Europe. But it is not the only record of the Bull, more unleashed than ever: the Nikkei of Tokyo, up by more than 2%, reaches its highest level since 1990. It is not surprising that the two most important world export powers take flight as Trump's tariff season draws to a close. And the markets are preparing to follow the last battle of the US election year: the vote in Georgia, decisive for control of the Senate.
NIKKEI +2,4%, ALIBABA STARTS AGAIN
The Japanese Stock Exchange rips: +2,4%, at the levels of August 1990. The other listings of the Asia-Pacific region also rise (+0,45%). Hong Kong's Hang Seng gains 1% also thanks to the 6% rebound of Alibaba, yesterday down 8% due to the investigation launched by the Chinese agency on monopolies. Positive, albeit with less extensive variations, were the Indian and Australian stock exchanges. The Korean Kospi is down slightly. The Chinese stock exchanges are lagging behind: Shanghai and Shenzen -0,3%.
By the end of 2020, the European Union and China could sign, after seven years of negotiations, a treaty to regulate investments between the two blocks. Beijing has made numerous concessions in recent days, with the clear aim of exploiting the changing of the guard in the US to score an important political coup. The treaty must serve to guarantee respect for intellectual property, to ensure equal access to the market, to impose transparency rules on public subsidies paid by the Chinese government.
Wall Street is also preparing to celebrate yet another record: the future of the S&P500 index is up 0,4%. The Dow Jones rose 0,64% yesterday; S&P +0,87%; NASDAQ +0,74%.
THE CHECK FOR US CITIZENS RISES TO 2.000 DOLLARS
Tonight the United States House voted on a bill that more than doubles (from $900 to $2.000) the overtime check to be sent to nearly all citizens. In theory, the measure should run aground in the Senate, where the Republicans have a majority, who in the past have sided against this kind of maxi-gratuities. However, in recent days Donald Trump has spoken out in favor of the maxi check: a position that could change the cards on the table. The question is very delicate, also in view of the next two ballots in Georgia, where the composition of the Senate is decided and Joe Biden's room for maneuver in the next four years is defined.
The two houses of the US Parliament have inflicted a slap on the President: for the first time the House and Senate have reached a qualified majority to overcome Trump's veto on the defense budget.
The index that compares the dollar with the world's major currencies is down 0,2%. Euro dollar appreciates to 1,224. Brent oil up 0,5%, to 51,3 dollars a barrel.
BREXIT PUSHES FRANKFURT TO THE TOP
The stock exchanges of the Old Continent dropped a trio yesterday: the agreement reached on the Brexit front, Trump's go-ahead for fiscal stimuli and, above all, the start of the European vaccination campaign. It was the German Stock Exchange that took full advantage of it. With London closed for Boxing Day, the overcoming of Brexit was especially felt on German equities. Germany, Britain's main auto supplier, celebrated with an all-time high. We will see today whether City will do the same: the euro-sterling exchange rate rose by 1% yesterday to 0,909. In the interview given to Daily Telegraph, Boris Johnson admits that, on relations between the City and the European Union, Great Britain has not obtained the freedom of maneuver that it would have liked.
MILAN +0,7%, BANKING MERGER IN SPAIN
Milan (+0,72%, to 22.288 points), proceeds with prudence in a context of thin exchanges. Further back Madrid (+0,57%). The meeting of the Boards of Unicaja and Liberbank is scheduled for today to approve the merger proposal which aims to create the fifth largest Spanish bank by assets. Toned Paris (+1,2%). Of note is Zurich (+1,88%). Pharmaceuticals stand out: Novartis +2,93%. After the signing of Brexit, the euro also rose against the franc.
The best place is Frankfurt (+1,54%), which returns to the record levels of February, before the health emergency. Germany has concluded a bilateral agreement with BionTech-Pfizer for the purchase of 30 million doses of vaccine, which will add up to the 55,8 million share destined for the Federal Republic in the distribution of the 300 million doses ordered by the European Union.
Commerzbank will record restructuring charges of 610 million euros in the fourth quarter, after reaching an agreement with staff for the previously announced workforce reduction.
BTP, RATE AT 0,51%, SPREAD 107. TODAY THE FIRST BOT OF 2021
The BTP closed a session in positive territory with light volumes, typical of the festive period. The ten-year rate settled in the 0,51% area, compared to 0,57% before Christmas. At the end of the session, the spread on the Bund on the ten-year segment closed at 107 basis points. Spotlight today on the Bot auction, the first with a 2021 currency, in which the Treasury will make 6,5 billion euros available in the semi-annual bill.
PIRELLI, THE RECOVERY CONTINUES. FLY MONCLER
The agreement on trade with the United Kingdom was celebrated in Piazza Affari by industrial stocks starting with Pirelli (+2,54%), which continued its recovery: since last October 29, the stock has recovered more than 30% . Prysmian (+2,66%) and Cnh Industrial (+1,56%) also performed well. FC +1%. Fly Technogym, one of the most exposed to business across the Channel. For Leonardo (+0,71%), London is worth 13% of the turnover.
Positive day also for luxury and utilities. The best stock in the main basket was Moncler (+3,15%), but among the best performances were those of utilities: A2A +2,21%, Terna +1,82% and Hera +1,7%.
RECORD FOR FINECO. “UNSATISFACTORY” OFFER FOR ATLANTIA
Among the financials, Fineco shines (+1,5%), which set a new record at 13,51 euros. The bankers held back in the final stages, but remained in positive territory: Intesa +0,75%, Unicredit +0,55%. The recovery of Bper continues (+1,5%).
In red Atlantia (-1,34%). The non-binding offer presented by Cassa Depositi e Prestiti was judged "unsatisfactory and likely to be rejected". This is the opinion expressed by the board of directors of the holding company.
Oil companies challenged: Tenaris loses 0,71%,
SAIPEM SELLS RESCUE FOR SUBMARINES TO THE NAVY
Saipem gains half a point: the Naval Armaments Directorate of the General Secretariat of Defense has acquired the underwater rescue system designed by the company together with Drass, which will be used as specialist equipment for the new ship for underwater operations and submarine rescue of the Italian Navy . In great evidence Maire Tecnimont (+6,3%).
CAIRO (+3,1%) MERGER ADVERTISING NETWORKS
ovs +5,5%. Morgan Stanley has exceeded the threshold of 5% of voting rights and does not rule out acquiring more in the next six months.
Strappa Beghelli, suspended on the upside after having scored +12,7%. Cairo Communication should be noted: +3,16% after the company and RCS (+1,45%) announced the merger of their respective advertising units into the NewCo "CairoRCS Media".
