Bags cautious after a week of running. The quarterly reports relaunch luxury

2021-03-12T09:01:23.988Z

European stock exchanges are cautious after the progress of recent days: + 0.03% after a start with a minus sign for the Ftse Mib index in Milan, which has risen by 5.1 percent since the beginning of the week. In the rest of Europe the minus sign still prevails, in particular for the Frankfurt index (-0.3%). The driving force of these days was the US $ 1.9 trillion economic aid plan, signed yesterday by President Biden. All-time high yesterday for the S&P 500 index (+ 1.04%, 3,939 points). The Nasdaq index of tech stocks also recovered after a sharp drop on Monday. Fears over rising inflation in the United States seem to have subsided somewhat after consumer price data released Wednesday. The yield on US government bonds, which are the indicator of these fears, are also remaining below the peaks of recent days, albeit rising (1.59%). Yesterday the yields on Italian government bonds also fell, with the spread reaching 92 basis points, close to an all-time low. Opening today is 93 basis points. In this case, help came from Christine Lagarde: the ECB president yesterday said that the European central bank will significantly increase its purchases of securities in the next quarter. Among the stocks in the main basket of Borsa Italiana: higher rises for Tim (+ 3.6%) and Diasorin (+ 1.32%). Higher discounts for A2A (-1.2%) and StMicroelectronics (-1.2%). Among the mid-cap stocks, the best today is Brunello Cucinelli (+ 11%). As with other luxury titles in recent days, such as Salvatore Ferragamo and Tod's, it has published accounts with a strong but lesser than expected decline. And always after the accounts Autogrill drops, -5.5%, worst performance of the day.