A bit of peace seems to be back on the stock exchanges. The first session of the week closed with strong rises. Driving the growth is Milan with the FtsMib that ends the day with a gain of over two percentage points (+ 2.16%). Frankfurt also did well (+ 1.40%) while Paris and London both rose by one and a half percentage points. The trend on Wall Street was also good with the main indexes in progress: + 1.90% for the Dow Jones and + 0.50% for the Nasdaq a few hours after the opening.
To push the return of purchases are the new assessments of operators on Covid risks. Since the morning, the stock markets have looked with some relief at the new South African variant: the numbers on hospitalizations in South Africa have not risen excessively. On the contrary, the new cases are on the other hand in marked growth. However, the words of Anthony Fauci, chief medical adviser to the US president, gave greater impetus, who explained that the Omicron variant could be less dangerous than the Delta. “There doesn’t seem to be a high degree of severity,” Fauci said. However, caution remains high.
Meanwhile, the financial markets have regained confidence. Oil also rebounded with more than 3% rebounds on the hope that the South African variant could be less dangerous than expected and on a consequent recovery of the global economy. Among the oil companies, Eni was highlighted, which in Milan closed the session with a gain of 2.30%.
The bond sector also benefited from the good performance. For the BTP the day was favorable and led to a narrowing of the BTP / Bund spread in the 126 basis points area from the almost 135 points of the volatility peaks of last week. The yield on the 10-year bond fell to 0.87%. The recovery was also affected by the move by the rating agency Fitch which last Friday raised its rating on Italy to “BBB” from “BBB-“, with the outlook remaining “stable”. Fitch spoke positively about our country and said that the high rate of vaccinations and the use of EU funds will boost the country’s growth, supported by both public and private investments, even if the implementation of the reforms could slow down the next year and will be more uncertain after the election.