Piazza Affari closed down (Ftse Mib -1.47%) above the session lows, recovering in the final The uncertainties and delays of the vaccination campaign against Covid and the controversies between the large pharmaceutical companies, the European Union and governments weigh on the stock exchanges. Markets reacted to the vaccine war with an extremely volatile trend (here share prices and the trend of the main lists in real time).
The performance of the Milan stock exchange in line with that of the other European stock exchanges, on the first day of the Quirinale consultations to resolve the government crisis. An element that weighed more on spread between BTPs and German Bunds, which rose to 120.1 basis points, which on the stock market, penalized instead by delays in the delivery of anti-Covid vaccines (which led the EU Steering Committee to convene the top management of AstraZeneca, after the CEO of Astrazeneca , Pascal Soriot, said the delays were due to the EU signing the contract three months after the UK signed a similar one).
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Fmi e Fed
Closing down sharply for the main European stock exchanges, pushed down by fears about the distribution of vaccines for Covid-19 in the Old Continent. In Frankfurt, the Dax index loses 1.81% to 13,620.46 points, in Madrid the Ibex falls by 1.41% to 7,852.7 points, in London the Ftse100 drops 1.3% to 6,567 , 37 points while in Paris the Cac40 slipped by 1.16% to 5,459.62 points. Milan and Frankfurt are in practice the worst of the lot.
Meanwhile, the IMF stressed that the financial markets in recent months have been complacent and exuberant looking at the prospect of vaccines and ignoring the increase in Covid cases. In a note issued Wednesday, the IMF talks about increased risk of correction.
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The titles in Piazza Affari
Difficult session for Interpump (-6.29%), Unipol (-3.78%), Exor (-3.74%) and Stellantis (-3.45%). Stm is also under pressure (-3.12%), subject to taking profits on the eve of the accounts. Weak Nexi (-3.02%), Bper (-2.96%) and Atlantia (-2.22%). In the banking sector, Intesa Sanpaolo (-1.74%) weighed, while Banco Bpm (-1.33%) and Unicredit (-0.77%) were more cautious, pending the appointment of the new CEO, who with the stock market closed turned out to be Andrea Orcel.
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The spread is rising
The spread between the BTP and the German Bund rose to 120.1 points on the first day of consultations in the Quirinale to find a solution to the government crisis after the resignation of Prime Minister Conte. However, Tuesday’s session closed at 117 points, not far from current values. The rate of return advances above 0.65%. The markets remain at the window waiting for the developments of the government crisis but would seem to lean more towards a quick solution, considering the hypothesis of surprise elections in Italy unlikely.
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