Stock exchanges stopped on pre-Covid records after the Ema verdict. Flat Milan, boom demand on 50-year BTPs

The European stock exchanges they closed the session close to the record levels of April 6, when the prices had risen to pre-Covid highs, trusting in the economic recovery and in the progressive relaxation of restrictions thanks to vaccination campaigns. On an interlocutory day, only London was highlighted, rising by about one percentage point. The market welcomed the EMA verdict on the vaccine without jolts AstraZeneca, while investors wait to read the minutes of the last meeting of the Federal Reserve to find out the views of the US central bank on inflation and get indications on future monetary policy developments. The European Medicines Agency has determined that there is a connection between serum and some rare forms of thrombosis, but stressed that the benefits continue to outweigh the risks. The upward revision of the forecasts of the previous session also encouraged purchases International Monetary Fund on global growth. At Piazza Affari the FTSE MIB ended the day with a fractional drop, while lo spread it stood at 102 points on the final and there was a peak of applications for the new 50-year BTp.

In Milan he closes Nexi in the lead, eyes on Tim and Unieuro

In Piazza Affari, the best title in the main basket – in the session of 7 April – was nexl after the weakness recorded in recent weeks. However, the shares are still far from the highs reached last February. After a good start, he lost his luster instead Terna while Atlantia the day ends above par, pending the next board of directors of the holding that will have to examine the new CDP offer on Autostrade per l’Italia. On the rise Telecom Italia with investors wondering about the French competitor’s future moves Iliad who surprisingly announced that it had acquired 12% of Unieuro , with which he has already signed a partnership for the sale of sim cards. Shop on Azimut e Finecobank, on the day in which the data on the March collection were released, archived with +1.2 billion. Weak session for the banks, as they close at the bottom of the list Moncler e Diasorin.

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Euro 1.18 against the dollar, Fed minutes increase in expectations

On the foreign exchange front, the single currency continues to strengthen on the greenback, pushing towards the close of trading in the 1.189 dollar area (from 1.184 at the end of the session on 6 April). The currency market awaits the publication of the minutes of the last meeting of the Federal Reserve on monetary policy, which could give valuable indications for the markets on the attitude of the US central bank. The recovery this time is not enough for oil: the contract on Wti with delivery in May it drops 0.7% to 58.9 dollars.

Closes a little moved spread BTp / Bund. At the end of the session, the yield differential between the ten-year BTp and the same German duration stood at 102 basis points from the 101 of the previous reference. The yield of the ten-year BTp rose fractionally, which marked a last position at 0.71% from 0.70% at the closing on 6 April.

The Treasury launches a new 50-year BTp, the question leaps

Meanwhile, the two 7- and 50-year BTp offered in dual tranche from the Treasury. The new 50-year BTp benchmark expires 03/01/2072, financial sources report a Radiocor, was placed for an amount equal to 5 billion euro while the reopening of the 7-year BTp maturity 15/03/2028 was set at 7 billion. For the 7-year bond, demand stood at € 66 billion while the spread was cut to 9 basis points (from 12 starting points) on the yield of the September 2027 BTp maturity. For the new 50-year benchmark, the demand exceeded 64 billion euros while the spread was set at 47 basis points on the yield of the BTp maturing in January 2051 (from the initial 50 points).

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