Bags today March 30 | Europe consolidates the gains on the eve, Milan +0.5% at the start
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Positive opening for European stock exchanges in the wake of Wall Street’s rise on the eve, driven by tech and banks. The indices of the Old Continent ignore the negative closure of Tokyo – however due more to technical reasons for the coupon detachment of various securities – and await a new round of macroeconomic data. At Piazza Affari, the Ftse Mib gains 0.54%, while in Paris the Cac40 gains 0.62%, in Frankfurt the Dax40 gains 0.68%, in Amsterdam the Aex gains 0.43% and in Madrid the Ibex35 gains 0.75%.
Business Square
In Piazza Affari, this morning Poste Italiane presented its 2022 accounts and at the start it marks a +0.23%. Consolidates the gains on the eve of St (+1%), Iveco Group rises by 0.34%, after announcing an agreement with Hedin Mobility Group AB for the transfer to the latter of the distribution and retail activities in Sweden, Norway , Finland and Denmark. In red Tenaris (-0.99%) and Tim (-0.81%). In terms of exchange rates, the euro is confirmed above the 1.08 dollar level, changing hands at 1.0839 dollars (1.0832 at yesterday’s close) and at 143.414 yen (143.57 yen), while the exchange rate between the greenback and the Japanese currency stands at 132.304 (132.55) (here the performance of the price lists in real time).
Spreads
Slightly moved opening for the BTp/Bund spread. Among the first trades, the yield differential between the 10-year benchmark BTP (Isin IT0005518128) and the same German maturity is indicated at 182 basis points, from 183 points at yesterday’s closing. The yield of the BTp fell to 4.06% from 4.13% in the last position. The same downward trend, even more accentuated than the Italian 10-year bond, for the yield on the Bund which fell from 2.31% to 2.24% (here the spread in real time).
Gas, oil
As regards the energy market, gas in Amsterdam slips by 0.7% to 42.5 euros per megawatt hour, for oil the contract delivers May on Brent unchanged at 78.28 dollars a barrel – even if by now the highest the June contract traded at 77.59 dollars – and the May expiry contract on the WTI rose by 0.04% to 73 dollars a barrel.
The expectations of today 30 March
Today the inflation data is expected in Germany, while the third estimate of GDP for the fourth quarter and the new weekly requests for unemployment benefits are expected from the United States. Banks remain on special watch after Federal Reserve Vice Chairman Michael Barr said “our regulatory system has failed” because it was unable to prevent the collapse of Silicon Valley Bank. Meanwhile, representatives of the Fed, the Treasury department and a federal financial agency (Fdic), in recent days, have said they are in favor of more stringent requirements for banks with assets exceeding 100 billion dollars and along the same lines, according to the US press, also the Biden administration. In this context, the publication of quarterly reports continues.
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