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Ambiguous the judgment, uncertain reaction of markets. After a more than positive start, the European stock markets slowed down the race with the decision to Constitutional court German in the Quantitative easing of the ECB. Following the advantage of Wall street and the acceleration of oil (Wti + 17,127% at $ 23.9 per barrel), the squares of the Old Continent, however, recovered in the afternoon and closed sharply higher. Business plaza confirms the rebound at the end of the session and closes the upward exchanges of 2.06% for 17,387. The spread between BTPs and the German Bund has increased to 242 basis points, after also reaching 250 Ten-year yield for1.84%. All European equity markets closed clearly higher: Frankfurt concluded an increase of 2.51% e Paris 2.40%, with London just a little more cautious, up to 1.70%.
The Karlsruhe judges ruled that the public securities purchase plan (quantitative easing) of the European Central Bank does not violate The prohibition of monetary financing. However, the ruling also says that the ECB goes “beyond its powers.” Therefore, Eurotower has three months to clarify the purchase program, after which the Bundesbank will stop participating in purchases.
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Confindustria: “In March and April production was cut in half. An expected 8% drop in GDP is expected in the second quarter, with a slow final closing recovery. “
