European stock exchanges are betting on vaccines and recovery. Tim is still on the Piazza Affari

Positive session for the European stock exchanges, which focus on recovery and the vaccination plan. The acceleration in the US in fact favors optimism on the rebound of the economy, after President Joe Biden promised that by April 19, 90% of Americans will have access to vaccine reservations. Positive test results too Pfizer e Modern, which also protect 90% from contagion, favor the good mood of the markets. Investors also seem to have archived without too many jolts the tensions in the banking sector after the crash in Zurich of the securities of the Credit Suisse bank, hit by the crisis of the hedge fund Archegos Capital, which had to liquidate positions for 20 billion dollars. With the spread up slightly to 97 points and the yield to 0.68%, the day on bonds in Italy sees the Treasury auctioning BTp, CTz and BTp.

Tim is still on the rise in Piazza Affari

In Piazza Affari, with the FTSE MIB, which is aiming for 25,000 points, the focus is still on bankers – in the wake of the Archegos “case” – and on telecommunications securities. In fact, the positive streak of Telecom Italia with the excitement on the unified network dossier and the TV rights for the next three years of Seria A (won in tandem with Dazn against Sky). Between the banks it goes up Banco Bpm but the whole sector is well in tune. In the queue the utilities and Inwit. In positive the Credit Valtell on the first day of the French takeover bid by Credit Agricole, with the stock remaining well above the offer price of 10.5 euros per share.

Loading…

Markets put to the test after the collapse of Archegos

The banking sector, which was one of the major beneficiaries of the cyclical rotation in place for a few months on the lists, on the eve suddenly returned to being targeted by sales. At the origin of it all are the forced sales on the portfolio of the Archegos Capital fund which was forced to liquidate shares of Chinese companies such as Baidu or Alibaba and American companies such as Discovery or Viacom CBS for an estimated amount between 20 and 30 billion dollars. A massive wave of sales orders dictated by the need to meet the repayment requests of the creditor banks. A crack that has put several large credit institutions in great difficulty. Two names above all: Credit Suisse and Nomura.

Spread slightly up to 97 points, rate at 0.68%

Slightly up spread between BTp and Bund on the secondary market Mts of government bonds. The yield differential between the Italian benchmark ten-year BTp and the German equivalent duration is indicated at 97 points from the 96 basis points of the closing on 29 March. The yield of the benchmark ten-year BTp rose to 0.68% from 0.65% of the previous reference.