Start with a timid rise in the early stages for the European stock exchanges, with Piazza Affari on parity, after having filed four weeks in a row of increases. The indices are preparing to close a particularly brilliant month of March, in which the Eurostoxx50 gained 6% and the FTSE MIB 6.7%.
The attention of the operators, however, is focused on the drop in oil prices as a result of the first positive news about the blockade of the Suez Canal due to the grounding of the Ever Given container ship: the ship has started to move even if it does not float and the reopening of the canal seems to nearest.
Brilliant Diasorin at Piazza Affari, eyes on Atlantia
Diasorin highlighted thanks to the green light from the American Food and Drug Administration for the emergency use for the Liaison Sars-CoV-2 test, used to detect the Sars-CoV-2 antigen in patients who have symptoms of Covid-19 . Nexi and Davide Campari also did well. Eyes on Atlantia: the weekend was not enough for the consortium led by CDP to undo all the knots in view of the offer for the 88% held by the holding company in Autostrade per l’Italia and a few more days will be needed to formalize the proposal . Outside the Ftse Mib, Credito Valtell flat remains at 12 euros: the board of directors judged the price of the takeover bid (10.50 euros per share) launched by Credit Agricole Italia that opens tomorrow to be inadequate. Carraro rises by 2%: the family that holds the majority of the agricultural machinery company has announced a takeover bid at € 2.40 per share to withdraw the stock from the list.
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Oil declining as we move towards unblocking the Suez affair
Brent delivery in May dropped two percentage points to 63.25 dollars a barrel, while WTI delivery itself dropped 2.3% to 59.59 dollars a barrel. The wait for the 1 April meeting between the OPEC + countries on production thresholds also influenced the movements of crude oil. On the currency market, the dollar remains below 1.18 for one dollar.
Spread slightly up in the 98 point area
A slight increase in the spread between BTp and Bund. The yield differential between the Italian benchmark ten-year BTp (Isin IT0005422891) and the same German maturity stood at 98 basis points, from 96 at Friday’s closing. The 10-year benchmark yield also increased fractionally, to 0.63% from 0.61%.
(Il Sole 24 Ore Radiocor)