Wall Street rebounds convincingly in its first session of the week, after the long weekend, while the main European lists closed the day with a cautious rise and confirmed the positive attitude seen yesterday.
Milan rises by 0,39%; the most convinced is Amsterdam +1,03, followed by Paris +0,75%, London +0,56%, Frankfurt +0,22%. Madrid -0,59% goes against the trend.
Even the Asian stock exchanges, this morning, closed their first session in green after eight negatives in a row.
Investors looking for good deals?
The brightening seems global, although the panorama remains dotted with gray areas, from the war in Ukraine to the consequences on economic growth of the tightening by the main central banks, while expectations are growing for the speeches to Congress by Fed Chairman Jerome Powell, tomorrow and the day after tomorrow.
In light of the path traced by the stars and stripes central bank Goldman Sachs argues that there is now a 30% probability that the US economy falls into a recession next year, up from the previous forecast of 15%.
In the Eurozone, the post-election political situation in France and the contortions of the 5-star in Italy on foreign policy are new risks along the road to stability, while the heat and drought in Italy are also alarming on the electricity front.
Investors are probably taking advantage today of the massive declines seen since the beginning of the year and in particular last week, in the hope of scoring some good deals.
Piazza Affari over 22 thousand points; the spread is stable waiting for the shield
Piazza Affari appreciates by 0,39% and consolidates over 22 thousand basis points. They are confirmed well buy the banks, while the secondary floats waiting for news on the anti-spread shield from the ECB. The yield differential between 10-year BTPs and Bunds of the same duration remains at 192 basis points and rates rise slightly: +3,68% for the Italian bond, +1,76% for the German one.
Fitch notes that the "anti-fragmentation" program could reduce the risk of high-debt countries, but warns that i progress in debt stabilization and reduction itself will remain fundamental for the assessment of sovereign credit.
Meanwhile, the placement of the new Btp Italia, with demand adding another two billion in funding midway through the second day of supply.
Going back to the stock market: among the Italian blue chips Leonardo stands out, +3,51%, after the agreement for the merger between the US subsidiary Drs and the Israeli Rada, listed in New York and Tel Aviv, with the aim of reaching the listing of Drs within the year. An operation that is appreciated by analysts.
Il good performance of technology at the European level it favors Stm, +2,57%, toned up in the last part of the session also by the Nasdaq run in New York (+3%).
Among the banks, Banco Bpm +2,09% and Mediobanca +0,93% stand out. The automotive sector is progressing with Stellantis +2,5%, Ferrari +1,72%, Cnh +1,74%, Interpump +1,12% is also in evidence in the industry.
Stay in money Telecom, +1,77%, after yesterday's progress.
At the bottom of the basket is Recordati, -3,4%, also stopped due to an excess of decline during the session. The utilities suffer, in particular Italgas -3%, Terna -2,59%, A2a -2,33%, Hera -1,67%. The fund may be affected by government actions in the event of a gas emergency. “The interruption/reduction of consumption is a negative element for all retailers in terms of lost revenues for the shares corresponding to lower consumption and interruptions”, comments Equita Sim.
Also for Equita, the so-called "renewables" (literally "renewable energy") companies such as Enel (-0,44%) are outside this perimeter and enjoy a better positioning.
Oil on the rise, Russian gold in the sights of the EU?
Oil trades higher, con Brent showing a progress of 1,58%, 116 dollars a barrel, after the recent declines. They keep going up i gas prices, 124,4 euros per MWh (+3,1%).
Spot gold is down by 0,5% to 55,97 euros per gram, while Reuters, quoting a draft document seen by the agency, writes that "European Union leaders intend to continue to keep Russia under pressure at the this week, pledging to work further on sanctions, with gold among the assets that could be targeted in any next round of measures.
Sul currency market the euro shows a good tone against the dollar and trades in the 1,056 area, while the greenback index appears to be falling fractionally.
