There Milan Stock Exchange opens with a positive sign after the weekend break, arriving at this moment at +0.59% at 34,352 points. Positive trends also for the other European stock exchanges, except for Frankfurt which opens with a -2.37% but which recovers after the suspension of Varta.
The spread between Italian and German ten-year government bonds reaches up to 129.3 basis pointscompared to the 130.6 points recorded at the close last Friday.
Rally of Finecobank, the results of the Italian stocks
If last week was a rollercoaster for the Italian and European stock markets, today Business Square opened immediately in the green, albeit cautiously: Milan opened with a +0.59%. It looks set to be a complex week, especially after Joe Biden’s announcement of withdrawal from the presidential race and his support for Kamala Harris, with investors who may wait to make rash moves on the stock market while waiting for more information on the future of the American nation.
In Piazza Affari in front of everyone there is Finecowith a +5.42%followed by A2A, which increased by 2.64%. Next up was Bper Banca and Diasorin, which gained 1.48% and 1.41% respectively. Azimut rose by 1.38%, while Banca Popolare di Sondrio and UniCredit both rose by 1.27%. Banca Monte dei Paschi di Siena and Hera also gained 1.24%. Finally, STMicroelectronics rose by 1.22%, and Nexi opened up by 1.13%.
The sector is currently declining automotive: Pirelli marks a -0.14%, while Ferrari is currently at -0.13%.
European stocks open cautiously
Even the main ones European stock exchanges opened the day cautiously after Joe Biden announced his withdrawal from the US presidential race. Paris rose 0.52% to 7,573 points, while Madrid gained 0.26% to 11,125 points. London, on the other hand, rose 0.46% to 8,193 points.
In reverse, Frankfurt opens with a heavy loss of 2.37%; the reason for this decline is the company Vartaspecialized in the production of batteries and accumulators, which at the opening had seen an 80% collapse following the announcement of a financial reorganization. The stock was thus suspended and the German index immediately recovered ground, marking an increase of +0.5% and reaching 18,252 points.
They don’t even shine Asian stocks: China’s unexpected interest rate cut had little impact on stocks, with Tokyo down 1.16%, while Taiwan fell 2.68%. Seoul fell 1.14% and Sydney saw a decline of 0.5%. Among markets still open, Hong Kong was up 0.58%, Shanghai was down 0.89%, Mumbai was unchanged and Singapore lost 0.18%.
Spread at 129 points
At the opening of the markets, the yield spread between the benchmark 10-year BTP and the German Bund with the same maturity remained stable; the spread is at 129 basis points, slightly down from Friday’s close. The yield on BTPs fell slightly, settling at 3.76%, compared to 3.77% recorded at the previous day’s close.