Strong rises for the stock markets. The lists were boosted by the positive news of Trump’s formal green light for the transition of President-elect Joe Biden to the White House. The move was highly anticipated and puts an end to weeks of political uncertainty in the United States, while restoring confidence among traders. Meanwhile, it is increasingly likely that an anti Covid vaccine may already be in distribution by the end of the year.
Thus Piazza Affari, already in positive ground from the start, concludes the negotiations with a rise of 2.04% well above 22 thousand points, a level it had not seen since the beginning of March. Since the beginning of the month, the main Milan price list has recovered almost 20 percentage points. Frankfurt also did well, closing today with a growth of 1.26% while London is up by 1.55%. Purchases return above all to the best-selling sectors in phases of severe collapses such as Banks, Insurance, Energy, Automotive. In particular, the oil stocks sector is highlighted after an increase of four percent per barrel, in the wake of the expectation of an economic recovery. In the collective rise, the record goes to Wall Street where the Dow Jones reached a new all-time high above 3 thousand points after the green light from Trump. Tesla is highlighted in New Yorke, earning over 4% and exceeding $ 500 billion in market capitalization. Investors are accumulating shares of the electric car maker ahead of its entry into the S&P 500 index.
Returning to Piazza Affari, Saipem and Tenaris run in the wake of the oil rally. Among the best Enel (+ 4.2%) after the presentation of the new 2021-2023 strategic plan.
The BTP / Bund spread also did well, dropping to 112 basis points, with the ten-year bond yielding 0.60%.
–
