(Il Sole 24 Ore Radiocor) – The belief that the symptoms caused by the Omicron variant of Covid may not be particularly serious, combined with the prospect of a Federal Reserve less inclined to accelerate tapering after the US labor market data released on Friday, December 3, has pushed the European stock markets rise, who finished in a sprint on the maximum sitting. TO Business Square the Ftse Mib closed up by 2.16 per cent. In Paris the Cac40 rose by 1.48%, in Frankfurt the Dax40 by 1.39%, in Madrid the Ibex35 by 2.40% and in London the Ftse100 gained 1.54%. Meanwhile, Wall Street continues to rise with the Dow Jones returned above the threshold of 35 thousand points.
Spread BTp / Bund closed down at 126 points
After Fitch raised Italy’s rating to BBB from BBB-, the 10-year BTp recorded a tonic day, with a flow of purchases that allowed for a sharp reduction in yields compared to other eurozone sovereign bonds with the consequence that there was a narrowing of the spread with the Bunds. The yield differential between the benchmark ten-year BTp (IT0005436693) and the German bond with the same duration therefore closed at 126 basis points, after a start in the morning at 130 basis points. Friday closing was at 130 basis points. The yield of the Italian 10-year term declined sharply to 0.89% from 0.93% last Friday.
Still drops for Bitcoin, which returns to the lows of the beginning of October, eliminating the rally of the last two months. The cryptocurrency, which had lost 10% on Friday 3 November and had lost 21% to 48,200 dollars on Saturday, leaves a further 4% on the field at 47,545 dollars (on 1 October it stood at 47,336 dollars). According to analysts, Bitcoin has a growing connection with the evolutions of the macroeconomic environment and is therefore affected by market fears, while smaller cryptocurrencies recover faster when there are events that create uncertainty from a macro point of view.
BTP / Bund spread trend
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Stellantis in evidence in Milan, Tim down
Among the Milanese stocks with the highest capitalization, leading the increases were the big industrials with Stellantis at + 3.48%, Pirelli at + 3.61% and Cnh Industrial at +3.49%. Weak instead Diasorin (-2.49%) and Tim (-1.38%), the latter on the fear that the Kkr fund decides to take a step back by renouncing to launch the takeover bid on the company. The purchases rewarded Hera (+ 3.6%), Bper (+ 3.15%), Intesa Sanpaolo (+ 3.1%), Buzzi Unicem (+ 3.03%), Enel (+ 3.02%) , Banco Bpm (+ 3.02%) and Terna (+ 2.92%). Among banks, UniCredit rose 2.7% ahead of the presentation of the new business plan scheduled for Thursday. Leonardo closed 1.3% higher, starring in a final shot after being penalized for most of the day by the opinion of BofA Merrill Lynch analysts, who cut the stock recommendation to “neutral” from the previous “buy” “.
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