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The Milan Stock Exchange closed today slightly below parity on the day of ECB meeting. By confirming the cost of money, the institute led by Christine Lagarde has pushed the stimulus to the economies of Euroland.
In particular, it highlights the increase from 500 to 1,850 million euros in purchases of securities from the Pepp program, which will be extended for nine months at least until March 2022, and the extension of the third tranche of Tltro, long-term liquidity operations, with more favorable conditions and a duration that goes from June 2021 to June 2022.
At the close of trading in Europe, the Eurodollar rose to 1.21148 (+ 0.29%) while Brent futures registered the third consecutive rise, to $ 51 per barrel (+ 4.3%).
Milan Stock Exchange today, update at 17:40: Ftse Mib weak, Btp at all-time lows
In the end, the Ftse Mib stopped at 21,915.51 points, -0.25% compared to the previous figure, while the spread fell almost one percentage point to 114 basis points.
Good news for today’s Italian paper comes from the performance of the 3- and 7-year BTPs, fell at auction to record lows. The three-year term, placed at 2.75 billion (requests at 3.879 billion), marked a decline in performance of 11 cents per -0.3%. Allocated by 3 billion (demand at 4.193 billion), the 7-year return saw it fall by 16 basis points in the 0.19%.
In the prime basket, the gains from the oil sector’s shares stand out: Tenaris closed with + 1.52%, Saipem with + 2.81% and Eni with + 1.05%.
Money in Prysmian (+ 1.16%), on which Goldman Sachs raised the target price, and Enel (+ 1.11%).
Substantial parity for Exor (+ 0.07%). The holding company announced that it has signed an agreement with Hermes International invest in Chinese luxury group Shang Xia. In particular, Exor will invest approximately 80 million in Shang Xia through a reserved capital increase, which will allow it to acquire the majority stake in the Company.
Among the worst performers of the blue chip basket are STMicroelectronics (-1.67%), Leonardo (-2.78%) and Pirelli (-3.43%).
1pm update: Ftse Mib positive, BTP performance at all-time lows
The Ftse Mib at 13 marks + 0.35%, the Dax moves little (+ 0.05%) and the Cac40 advances 0.27%.
Red by a hearty percentage point for the spread to 113 basis points after the the yield of the 3- and 7-year BTPs at auction has updated historical lows.
The triennium, placed at 2.75 billion (requests at 3.879 billion), marked a decrease of 11 cents per -0.3%. Allocated by 3 billion (demand at 4.193 billion), the 7-year return saw it drop by 16 basis points in the 0.19%.
In the Ftse Mib, the worst performance was obtained by Leonardo (-2.12%) and STMicroelectronics (-1.84%).
Money instead in Prysmian (+ 1.65%), in which Goldman Sachs raised the target price, and Enel (+ 1.74%).
The trend in crude oil is supporting the oil sector: Tenaris gains 0.62%, Saipem rises 1.36% and Eni gains 0.67%.
0.6% increase in Exor. The holding company announced that it has signed an agreement with Hermes International invest in Chinese luxury group Shang Xia. In particular, Exor will invest approximately 80 million in Shang Xia through a reserved capital increase, which will allow it to acquire the majority stake in the Company.
Future Wall Street: expected to open at parity
Two and a half hours after the start of trading, the Dow Jones derivative registered + 0.18%, that of the S & P500 advanced 0.07% and the Nasdaq future registered -0.12%.
Update 9:25 am: Ftse Mib, plus sign for Prysmian and Exor
In Piazza Affari the basket of blue chips, the Ftse Mib, changes hands in the first operations 22,072.87 points, + 0.47% with respect to the previous data, while the Italy-Germany differential did not register significant changes in 115 basis points.
During the morning the Ministry of Economy will place 3-year BTP for 2.25-2.75 billion and 7-year bonds for 3 billion.
At the beginning, the Dax scores + 0.11%, the Cac40 gains 0.39% and the London Ftse100 scores + 0.35%.
The worst performance of the blue chip basket was recorded by STMicroelectronics (-1.4%) still due to warning. Specular trend for Prysmian (+ 1.83%) e plus sign for oil sector stocks: Tenaris gains 0.97%, Saipem gains 0.94% and Eni gains 0.84%.
0.83% increase in Exor. The holding company announced that it has signed an agreement with Hermes International invest in Chinese luxury group Shang Xia. In particular, Exor will invest approximately 80 million in Shang Xia through a reserved capital increase, which will allow it to acquire the majority stake in the Company.
Among bankers, positive start for UniCredit (+ 0.9%) on the day of the meeting of the Board of Directors assess the profile of the successor of Jean Pierre Mustier.
Small Asian Stock Exchanges
Hong Kong’s Hang Seng index posted -0.34%, China’s A50 ended -0.11% and the Nikkei closed + 0.23%.
On the other hand, negative sign for the Australian S & P / ASX 200 index (-0.67%).
Wall Street: the session closes in red
Yesterday’s session on Wall Street closed with the Dow Jones falling 0.35%, the S & P500 falling 0.79% and the Nasdaq leaving 1.94% in the field.
