MILANO – 12 noon The European stock exchanges are not moving much in a week characterized by the meeting of the Federal Reserve, from which clues are expected on the next monetary policy strategies, while in Italy the PNRR is planning in parliament. Milano turns up 0.15% after weak start, London yields 0.1%, Paris salt by 0.1% e Frankfurt is in fractional decline.
Busy day on the corporate front for the approval of the 2020 accounts, among others with Mediaset. The Dry, an artificial intelligence company that is being listed on Piazza Affari, has meanwhile received a purchase order for 7% of the capital from Olivetti (Tim) and has decided to “allocate this order” to “build an industrial partnership”. Well the banks. The spread it is stable just below 105 basis points.
In the USA, Joe Biden is developing a plan to impose new levies on wealthy investors, including a doubling of the tax on financial transaction profits to 39.6% for people with incomes of over $ 1 million. In any case, investors took their breath away after yesterday as any tax plan has to go through a long process in Congress before becoming law. Biden also reportedly asked for an increase in corporate taxes to finance the $ 2 trillion infrastructure package.
Even in Asia, trade was thwarted: Tokyo marks a positive ending of 0.36%, while Hong Kong slips by 0.4% e Shanghai loses 1 percent.
The confidence of German companies beats expectations (Ifo index at 96.8 points in April) in a week that marks the entry into the hot phase of the Piazza Affari quarterly, while the government must close the work on the Recovery plan with the dialogue in Parliament and then send it to Brussels: the German Ifo index in April opens the week of macroeconomic data, followed by orders for durable goods from the United States in March. Of note is the growth forecast that Goldman Sachs has released for UK: + 7.8% in 2021, a level also higher than that of the United States and above the + 5.3% indicated by the IMF.
Among currencies, theeuro opens higher above $ 1.21 and the greenback moves back, pending the Fed meeting on Wednesday evening. Markets expect tapering, the initiation of the withdrawal of monetary stimulus, to move away. the European currency changes hands at 1.2111 dollars and 130.44 yen.
Dollar / ye falls to 107.70 dollars.
Meanwhile, the difficult situation in India – yesterday the total infections rose above 17 million, with a new record of 352,991 new confirmed cases and 2,812 deaths in a single day – casts shadows on the global restart and in particular on the Petroleum, of which it is a large consumer. Futures in New York fell below $ 62 a barrel after gaining 1.2% on Friday, the highest in more than a week. Still among the raw materials, copper leapt to the top of the decade due to concerns about insufficient stocks with respect to market demand.
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