MILANO – 12:30 pm. A cautious upward trend for European stock exchanges, following a session that was not very moving, always characterized on the one hand by the hope for an economic restart and on the other by the fear of overheating inflation. If the United States is experiencing a robust recovery, however, the data coming from Germany is still light and dark. The German GDP it was in fact revised downwards with respect to estimates, to -1.8% in the first quarter and -3.1% on the year. Preliminary estimates showed a slightly more contained decline, of -1.7% and -3% respectively. But what gives hope for a recovery is above all the prospective survey that emerges from the Ifo index, which measures business confidence and rises to 99.2 points in May, beyond expectations.
In the middle of the day, like this, London it is just above parity while the others are more convinced: Frankfurt salt by 0.82% e Paris earns 0.15%. Milano adds 0.35% with banks in good position.
Last evening, Wall Street it closed well with the Dow Jones up 0.54% and the Nasdaq, on the back of the race in technology stocks, up 1.41%. Today, US index futures are stable.
Bitcoin is back in the limelight with Musk
After the roller coaster of the last few sessions, the queen of cryptocurrencies returns to move at the pace of Elon Musk, founder and CEO of Tesla, who published a new tweet about Bitcoin, which this time raised the prices of the digital currency. “I spoke to some North American Bitcoin miners – he wrote – who have undertaken to publish current and planned data relating to the use of renewable energy”. Musk added that “this is potentially promising”. Precisely the criticisms on the energy unsustainability of the blockchain had represented the latest blow to the Bitcoin quotation which, thanks also to the assistance arrived from Ray Dalio, instead jumped by more than 17% after Musk’s new tweet, exceeding $ 39,500. Ray Dalio, founder of Bridgewater Associates, the largest hedge fund in the world, in an interview granted to CoinDesk said that we are moving towards an inflationary future in which “cash is junk”: which is why, he stressed, he would prefer “to have Bitcoin. rather than bonds “. Once skeptical of cryptocurrencies, Dalio admitted that he owns ‘some’ bitcoins in his wallet. Thus, in the early Italian morning, the queen of cryptocurrencies rises by about 10% to 38,525 dollars, while theEthereum rallies above 23% to $ 2,586.
L’euro it remains above $ 1.22 at the start of the day. To weaken the greenback, the position of investors who appear more convinced by the Fed’s statements that a rise in inflation is likely to be only temporary. The single currency is trading at $ 1.2228 and 133 yen. Dollar / yen at 108.76. To report the yuan which strengthens against the dollar and goes below 6.4 for the first time since June 2018. Lo spread between BTP and German Bund it is confirmed little moved in the 115 basis points area, with the Italian ten-year yielding 1%.
Finally, among raw materials, the price of Petroleum in the early trading of the day. Texas WTI changes hands at $ 66 per barrel (-0.05%) while North Sea Brent is $ 68.5 (-0.09%). Price oforo slightly down: immediate delivery metal fell 0.3% to $ 1,875 an ounce.
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