Piazza Affari extends to + 1.77% and drags the European lists upwards (+ 1.19% Frankfurt, + 1.20% Paris, + 1% London). Purchases primarily reward the energy sector, financial services and banks. On the other hand, the Moscow stock exchange was weak, losing 1% in the Moex index and 0.94% in the RTS index denominated in dollars after the new sanctions on Russia.
“The European stock exchanges try to rebound in the last session of the week. The lists are set in the name of risk-on with purchases in all sectors, even if the defensive ones remain a little further behind”, comment the experts of Anthilia. “The futures on Wall Street are also well set up, which should therefore continue in yesterday’s recovery. After the European closure, in fact, Wall Street has made a reversal in the face by closing positively”, recall the experts. The Dow Jones is now up 0.26% and the S&P 0.23%.
On the war front, the president of the EU commission Ursula von der Leyen and the high representative for foreign policy Josep Borrell are headed to Kiev to meet the Ukrainian president. Meanwhile, Ukrainian chief negotiator Mikhailo Podolyak, quoted by the Guardian, said that “any temporary truce with Russia would only be a war postponed for the future and Ukraine does not need it”. According to Podoliak, Moscow is currently counting on success in the Donbass battles to “behave more brazenly in the negotiations”, but “everyone is ready to put Russia in its place”. The Pentagon believes that Putin has now given up on conquering Kiev but is not slowing down his arms supplies to Ukraine: on the contrary, he is committed to boosting supplies.
On the macro data front, in February the value of retail sales recorded, overall, growth both in economic terms and in trend terms. This was revealed by Istat explaining in detail that in February retail sales recorded an increase of 0.7% in value and 0.4% in volume. Sales of food goods decreased (-0.6% in value and -1.5% in volume) while those of non-food goods increased (+ 1.7% in value and + 1.6% in volume). On a trend basis, in February 2022, retail sales increased by 4.3% in value and 1.9% in volume.
The price of a barrel of oil is recovering after a week that saw Brent drop by 6% and WTI by around 2%, while currently the two contracts rise by 0.76% and 0.86% respectively to 101 dollars a barrel and 96 dollars. Gas up to 108 euros per megawatt hour (+ 3.5%). On the other hand, gold fell (-0.34%) which trades at 1,931 dollars an ounce. On the currency market, the dollar strengthens further after yesterday the dollar index rose to a five-year high, the exchange rate against the European currency is still below 1.09 to 1.08 dollars (-0.07%). The dollar fell slightly against the Japanese currency taking 124 yen (+ 0.14%). After the strong losses on the eve of the eve, the dollar remains at 76.35, while the single currency raises its head on the ruble, up 3.63% to 86.51.
In Milan, the banking risk returns to the fore with the entry of Credit Agricole in the capital of Banco Bpm with 9%: a move that is sparking purchases on the Milanese bank whose stock is priceless but marks a theoretical +13, 82%. The other banks did well (+ 2.3% Bper, + 1.5% Unicredit and Intesa Sanpaolo). Atlantia always protagonist (+ 4.14%) with the will of the Benetton family to reject the interest of the infrastructural funds and to evaluate a reorganization in line with Blackstone. Jun Tim (-2.88%) after the board refused Kkr access to a due diligence aimed at an offer for the group. (All rights reserved)
