Market confidence in phase 2. Stock recovery. But the German court cools the walks

MILAN 13.10. The progressive relaxation of the restrictive measures that countries are adopting around the world offers signs of confidence in the market, which is also facing the new growing tensions between the United States and China.

European stock exchanges are positive in the middle of the session and recover after yesterday’s sharp decline, also taking advantage of the good Wall street, which closed yesterday positively driven by the results of the technology sector. In part, the German Constitutional Court, which today deemed the ECB’s quantitative easing to be legitimate, partially chilled the increases, but in part accepted the appeal made, putting a possible mine in the way of Frankfurt’s stock purchase program .

Milan so it slows down after a good opening to the upside and rises 0.9%, London rises 1.2%, Frankfurt 1.3% and Paris 1.5%. The performance of the Asian stock markets was also positive, although with a narrow indicator: with Tokyo, Seoul and Shanghai closed for vacations.

The position of the German court has pushed him up spread, which approached 250 basis points with a yield that went from 1.79% of the opening to 1.93%. The euro opens above $ 1.09 and changes hands at $ 1.0904 and 116.26 yen.

Among macroeconomic data, after yesterday’s vertical collapse in the Italian market, car registrations also plunged in April, hitting -97% in the previous month and posting the worst since 1946.

The rise of oil, backed by hopes of a recovery in demand linked to the possible slow exit from the crisis and the entry into force from May 1 of the production cuts of the OPEC + countries. In the morning, wti contracts in June rose 8.2% to $ 22.06 per barrel, while those of Brent in July grew 5.37% to $ 28.66 per barrel.