ECB effect, Piazza Affari runs. Car incentives hypothesis: FCA drives increases

2020-06-05T08:51:33.455Z

A decidedly tonic start for European stock exchanges: the Ftse Mib rises by about 2 percent. This is above all thanks to the banking sector, which rises on average by 3.8%, and to oil stocks (+2.05): after an agreement between the OPEC countries and Russia, the North Sea Brent was above 40 dollars per barrel. Since the opening on Monday morning, the index has risen by about 10 percent, since the beginning of the year the decline has reduced to around 15 percent. The rise in the share price is the effect of yesterday's announcement by the ECB, which increased the anti-pandemic securities purchase plan by € 600 billion. But also the insertion in the text of conversion into law of the Relaunch Decree of an amendment, presented by the government majority, which would introduce, if approved, an incentive of 2 thousand euros for the purchase of Euro6 cars, to which a similar discount would be accompanied by car manufacturers. On the Ftse Mib the highest performance is FCA, + 4.68%. Following Bper Banca, Banco Bpm, Unicredit, Azimut, Intesa Sanpaolo. Among the 40 main stocks of Borsa Italiana, drops for Terna (-0.5%) and Diasorin (-2.24%). Yesterday the BTP / Bund spread fell by around 20 basis points, today by another 3, to 175 points. Under observation in the afternoon the new data on employment in the United States, the estimates are of an unemployment which reached 19.5% in May, from 14.5% in April. We are at the highest level since the Great Depression of 1929. A weaker day yesterday for the main indices of Wall Street. Today futures are anticipating rising starts. Mixed signals had come from Asia in the night. The most evident race is that of the Kospi index in Seoul, which has now returned to the levels at the beginning of the year.