The spread between BTp and bund fell to 161 basis points
Closing down for the spread between BTp and Bund. At the end of the session, the yield differential between the ten-year benchmark BTp and the same German maturity is indicated at 161 basis points, two points less than the reference on the eve of the session. A sharper drop for the yield of the benchmark ten-year BTp which marked a last position at 1.85%, from 1.91% at yesterday’s final. On the foreign exchange front, the euro changed hands at 1.1367 dollars (yesterday closing at 1.1375) and at 130.70 yen (131.29), while the dollar / yen ratio stood at 114.97 (115 , 42). Finally, crude oil with WTI crude oil in March fell 2.5% to 91.3 dollars and Brent in April at 92.7 dollars (-2.2 percent).
Sales on banks and oil companies in Milan
In Piazza Affari, the banks in particular hit by sales Bper (-3,98%) a UniCredit (-2.73%), with the risk scenarios in the sector that seem to cool suddenly. Realize on Tenaris (-2.83%) after the above-expected figures (the share has gained about 25% since the beginning of the year, the best of the Ftse Mib behind only Banco Bpm). With the drop in the price of crude oil, Saipem was also weak (-2.76%). Ferrari (+ 0.6%) which presented the new F1 single-seater for the 2022 season. At the end, Moncler lost momentum (-0.43%) which during the session had climbed to the top of the main segment in the wake of the French giant Kering, which recorded 2021 accounts higher than those of the pre-pandemic period, recording 17.6 billion euros in revenues and 3.17 billion in net profit. Outside the Ftse Mib, it stands out ePrice (+ 9.61%), which the reference shareholder Negma intends to transform into an investment platform in the technology sector. In Milan, a subdued debut for Civitanavi Systems (-0.50%), born as a start-up in 2012 and one of the main players in the design, development and production of inertial navigation and stabilization systems used in the aerospace and defense sectors in the space sector , land, aeronautical, naval and industrial, in the mining and oil & gas sectors.
Requests for subsidies in the US exceeded expectations
In the United States, the number of workers who first applied for unemployment benefits in the week ending February 12 increased by 23,000 to 248,000, the Department of Labor reported. Expectations were for a figure of 218,000. The previous week’s figure was revised from 223,000 to 225,000. At the height of the pandemic, the United States had registered a maximum of 6.9 million new requests per week. The 4-week average is 243,250, down 10,500 from the previous week’s average. The total number of workers receiving unemployment benefits – for the week ending February 5, the last for which data is available – decreased by 26,000 to 1,593 million. The total number of people receiving aid from various state and federal programs was 2,063,567 in the week ended January 29, down 36,295 from the previous week. Data on new construction sites have also been published (-4.1% in January, below estimates) and that on new building permits (+ 0.7%). As for the Philadelphia Fed manufacturing index, it fell to 16 points from 23.2, versus expectations for a more contained decline to 19.
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