[ad_1]
Milan, February 3, 2021 – Draghi effect in Italy Stock Exchange. Mall today It flies after the position that Mattarella gave to the former governor of the ECB. After an opening in sharp rise, the Milan Stock Exchange travels rapidly and reaches peaks of + 3%, while spread Btp-Bund it falls to the 105 basis point area, a sharp drop compared to the 117 at yesterday’s close. After Draghi’s speech at the Quirinale, the Ftse Mib scores an always encouraging + 2.6%.
The other places are much more cautious: Frankfurt gains 0.54%, London remains unchanged and Paris rises 0.25%. In Milan, bank shares are always on the card, with – in the early afternoon – Poste (+ 6.5%) Unicredit (+ 5.4%), Intesa (+ 5.48%), Bper + 5 , 51%) Banco Bpm (+ 5.25%).
Premier Draghi: what’s up now
Smeared
The drop in the spread continues. Yields on 10-year BTPs have reached 0.57%, a two-week low. Its differential with respect to the equivalent rates of the German Bund is just over 100 basis points. The issues of the Italian government stood out in the session due to their sharp drop in rates compared to an outlook without changes or slight increases in those of the rest of the eurozone countries. In these types of securities, returns move in the opposite direction to price: they go down when price rises and vice versa. The government crisis had raised the ten-year BTP axes to 0.70%, the highest in nearly three months. Meanwhile, the yield on 5-year BTPs has dropped to zero, with a spread that falls to 69 basis points, while on 2-year BTPs, rates fall by at least 0.37% with a limited spread to 32 basis points.
© All rights reserved
