Today's Stock Exchanges March 27 | Milan recovers with Europe, Deutsche Bank starts strong
European equity markets opened the new week higher as banking stocks rallied after Friday's heavy session dominated by fears for banks with the collapse of Deutsche Bank in Frankfurt. The title of the German banking group, immediately setting aside the uncertainties about its solidity that knocked it down in the last session. However, reassurances about the strength of the bank have arrived from many quarters. To understand what's going on in the central institutions, it will be necessary to listen to the speeches of their exponents starting with those of the ECB: that of Isabel Schnabel on Monday 27 March and that of the president Christine Lagarde who stops in Italy, in Florence, on Friday. From the Fed expected Philip Jefferson, Thomas Barkin, John Williams and Christopher Waller. On the macro front, the Ifo index on the confidence of German managers is on the agenda. In the United States, on the other hand, the most important data is that on consumer confidence, expected to drop for the third consecutive month. Finally, the PMI manufacturing and services indices will be published in China on Friday, both of which are seen to be slowing down. And on the same day inflation in the EU is on the calendar.
The European Stock Exchanges
An upward start for Piazza Affari with the Ftse Mib which in the first trades, after the news of the rescue of Svb by First Citizens Bank, gained 1.64% to 26,317 points. In London the FTSE 100 index rises by 0.98% to 7,477.71 points, in Frankfurt the Dax by 1.17% to 15,132.35 points and in Paris the Cac40 rises by 1.26% to 7,103.54 points .
The Tokyo stock exchange closed higher with the Nikkei index gaining 0.51% to 27,524.50 points, while Chinese stock exchanges are weak after the news that in the first two months of the year the earnings of the country's companies they decreased by more than 22% compared to a year earlier. In Hong Kong, the Hang Seng index lost 0.66% to 19,785.00, Shanghai down 0.64% and Shenzhen down 0.61%.
Spreads and Currencies
The spread between BTPs and German Bunds starts slightly decreasing. The differential drops to 187.7 points at the start of the day from 189 at the close on Friday. The yield is always above 4% (4.043%). Euro slightly up against both the dollar and the yen. The single currency changes hands at 1.0766 dollars (+0.08%) while against the Japanese currency it rises by 0.18% to 140.84. The euro had lost ground against the dollar and the yen in recent sessions, remaining vulnerable in a market weakened by banks.