Home » Banks and cars full speed ahead, Dax records with EMA blessing to Astrazeneca vaccine. Piazza Affari shines with Agnelli galaxy

Banks and cars full speed ahead, Dax records with EMA blessing to Astrazeneca vaccine. Piazza Affari shines with Agnelli galaxy

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Sitting in tune on the upside for the European stock exchanges that are not influenced by the uncertain trend of Wall Street where the Dow Jones reaches new heights, while the Nasdaq struggles in the wake of the new upward peaks in Treasury yields (the 10-year jumped above 1.75%).

OK EMA at Astrazeneca Draghi reassures Italy vaccines

Markets at the end of the day also took the assist of the positive EMA ruling on the Astrazeneca vaccine. The health watchdog found the company’s vaccine to be “safe and effective in preventing Covid-19 and its benefits outweigh the risks” and recommended countries to proceed with vaccinations.
Today the Italian premier Mario Draghi he said Italy’s vaccine plan will go ahead at the expected pace regardless of what the EMA says.
The markets do not seem worried by the words of the ECB president, Christine Lagarde, who expressed caution on the recovery and short term of the European economy.

Dax flies with DB and auto titles

At the end of the day, the Dax in Frankfurt reached new all-time highs at 14,787 points, up by 1.31%. The boost came from the leap of bankers with Deutsche Bank, which gained 5% and from the new rally in the automotive sector. More moderate rise for Piazza Affari with the Ftse Mib which, however, climbs to new highs from February 2020, closing at 24,360 points (+ 0.33%).

In Milan a rush of CNH and Stellantis, Intesa stands out among the banks

On the Piazza Affari parterre, the excellent moment of the bankers is confirmed: + 0.9% for Banco BPM which in recent days has been at the center of new rumors that lead to a possible merger with Bper; Unicredit also did well at + 0.39%; however, the best is Intesa Sanpaolo at + 1.47% close to the 2.35 euro area, on the new highs of more than one year. Compared to 12 months ago, the title marks a balance of + 62% with a full-bodied raly of + 23% YTD. Banks in general are among the main beneficiaries of the increase in government bond yields and of the prospects for economic recovery in the coming quarters.
The car sector is also very good with Stellantis which closed at + 2.98% at € 15.39, on the highest levels since January 2019. In general, the whole Agnelli galaxy is flying with + 3.75% for CNH and + 1.48% for Exor.

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Telecom does not stop

Continue the positive moment of Telecom Italia (+ 0.98% to € 0.464) which updates the highs to over a year, following up on its March full year ahead on the Stock Exchange. To support the title contribute the words of the Minister of Economic Development, Giancarlo Giorgetti, who seem to favor an acceleration on the single network. “For too long we have been witnessing a stalemate that does not benefit the country because it determines overlapping and duplication of the investments made by operators”, says Giorgetti. “We are confident that the new government will increase efforts to overcome the digital divide and the new Prime Minister Mario Draghi has placed digital infrastructure at the center of his government’s agenda but has yet to clarify whether he intends to implement the unified network project and in what terms ”, argue Mediobanca Securities experts.

Bad Enel and Nexi

On the other hand, among the minus signs there are utilities with Enel, the most important share of the entire Ftse Mib, which lost 1.2%, continuing to pay the rise in bond yields. In the evening, the 2020 accounts of the group led by Francesco Starace are expected. A2A also fell (-0.74%) which closed 2020 with Gross Operating Margin at 1,204 million euros, slightly down from 1,234 at 31 December 2019. In the fourth quarter of 2020 there was a significant recovery (+10 %). Net profit for 2020 amounted to 364 million euros from 389 million in the previous year. A dividend of € 0.08 per share was proposed to the shareholders’ meeting, up by 3.2% compared to the previous year.
Among the minus signs of today also stands out Nexium (-2,68%), worst title also thanks to fear that the state cashback will end prematurely after in recent days the Undersecretary for the Economy Durigon has feared a possible stop at the end of June.

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