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by Fabrizio Patti

23 April 2021 Weak start for European markets.

In Milan, the Ftse Mib index, which rose by one percent yesterday, at the opening marks -0.09%. The week has seen a decline of one and a half percent so far.



In the rest of Europe, London -0.24%, Frankfurt -0.13%.

These declines are a reflection of Wall Street's decline yesterday, -0.9% for its three main indices.

Descent also due to Bloomberg's advances on the Biden administration's desire to double taxes on financial income for those who earn more than one million dollars a year.

The capital gain tax would rise from 20 to 39.6 percent.

And it would reach 43% even counting a surcharge to finance the health program for the less well off.



Today the markets await the first data on manufacturing and services trends in April, both in Europe (at 10) and in the United States. Investors will follow the details of the Italian government's recovery and resilience plan. In the meantime, the BTP / Bund spread is stable at 101 basis points, also because yesterday reassuring words arrived from the ECB president, Christine Lagarde about the maintenance of the stimulus measures. Among the titles in evidence Tod's, + 11%, after the announcement that the French luxury giant LVMH will rise to 10% of the Marche group, through a subsidiary. The rise in the stock in April, already benefited from the entry of Chiara Ferragni in the board of directors, reaches 40%. The opposite trend for Moncler, -6%, the worst stock in the Ftse Mib, the day after the presentation of the quarterly accounts. More increases, on the other hand,for Diasorin (+ 0.78%) and Hera (+ 0.50%)