A rising start for the European stock exchanges which, after the rises of the eve and of Wall Street, are trying to close the week in the name of earnings. The positive data on the weekly requests for unemployment benefits and the rise in the tech sector on the US price lists – after three sessions in the red – have calmed the climate among investors on the economic recovery, also giving breath to the Asian stock exchanges.
Tokyo was positive, supported by the approval of the anti-Covid vaccines by Astrazeneca and Moderna which could give impetus to the country’s vaccination campaign, Hong Kong weak due to the slip of Tencent Holdings.
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At Piazza Affari, focus on banks
In Milan, the focus remains on banks, after the concessions on DTAs have jumped from the final version of the Dl Sostegni bis but with press rumors that relaunch possible three-way mergers between Unicredit, Mps and Banco Bpm.Diasorin still in the spotlight thanks to launch of a new test on Covid variant mutations. Fincantieri was awarded the second Constellation missile frigate for the US Navy. On the macroeconomic front, among the expected data, the PMI indices of the Eurozone and the United States, the sales of existing homes in April and the consumer confidence flash in May.
Tokyo Stock Exchange: + 0.8% Nikkei with vaccine campaign at the turning point
Positive session for the Tokyo Stock Exchange, supported by Wall Street and by the news of the approval of the anti-Covid vaccines of Astrazeneca and Moderna which could give impetus to the country’s tiring vaccination campaign. At the end of the trade, the Nikkei Leadership Index gained 0.78% to close at 28,317 points and the broader Topix index was up 0.32% to 1,902.02 points.
Eyes on inflation and cryptocurrencies
Today ends a week marked by “Black Wednesday” with lists weighted by heavy minus signs that have been coupled with the bearish vortex of cryptocurrencies. In the last session, the American data on new applications for unemployment benefit intervened to raise the indices, which fell to 444 thousand: the minimum level since the beginning of the pandemic (March 14, 2020). On Wall Street, inflation and the Fed’s future moves remain the focus of investors’ attention, but the day is over …….