Business square, double digit bounce. The boost from banks and oil companies

2020-03-13T11:43:54.487Z

Full-blown rebound for the Ftse Mib index in Piazza Affari: in the middle of the session it marks a rise of 14 percentage points. The other main European stock exchanges rise between 5 and 6.75 percent. Yesterday there was the biggest drop ever for the index, -16.62%, which had brought the monthly drop to 40%. The spread between BTP and Bund yields had risen by 60 basis points, to 253. To influence them, a statement by the president of the ECB, Christine Lagarde - "It is not my job to deal with spreads", before a clarification in which has fully committed itself to avoiding the fragmentation of the euro area. Today was the turn of the ECB's chief economist, Philip Lane, who wrote in a blog on the central bank official: "The ECB's board of directors reserves the option of future interest rate cuts in the event of a tightening of financial conditions ". Among the sectors in Piazza Affari, the banks stand out, + 14%, but also the oil sector stocks, + 16%, on a day when Brent rose 5.5% to $ 35 a barrel. Among the stocks, the biggest increases for Juventus, Poste Italiane, Recordati, Prysmian, all above + 20%.