Optimism among investors: European stock exchanges close Omicron
Already sharply up in the middle of the session, the European lists closed in a sprint thanks to the support of Wall Street (where the Nasdaq advanced by almost 3%) and the words of Anthony Fauci, the top White House advisor on Covid, now “almost certain ” that the Omicron variant is no more severe than the Delta.
Thus continues the rally that began yesterday and, at least in appearance, it seems that the stock exchanges have almost left behind the great fear of Omicron. Frankfurt and Paris, up by almost 3%, return to target historical highs and Milan (+ 2.41% over 27 thousand, below which it had fallen on November 26, on the fear caused by the Omicron variant) those from 2008. To give fuel to the increase are mainly the cyclical securities, such as raw materials and cars, but also techs – galvanized by the hypothesis that Intel goes public and controls Mobileye – and luxury, which could receive new impetus from the stimulus to the Chinese economy.
Like this in Milan the best are St and Nexi, with increases of more than 5% and on Stellantis (+ 3.5%) which announced investments of 30 million in software and electrification by 2025. Moncler was also highlighted (+ 4.6%). Defensives were weak, starting with utilities while Tim lost another 1.4%. The stalemate over Iran’s nuclear push crude with WTI at $ 72.7 (+ 4.6%). Finally, on the foreign exchange front, the euro is worth 1.124 dollars (yesterday closing at 1.1278 dollars). The single currency also changing hands at 127.72 yen (127.95), while the dollar-yen and ‘equal to 113.59 (113.44).
& Info thus on maximum a session sharply higher as on the macroeconomic front, Germany, the ZEW index on economic expectations fell to 29.9 points in December from 31.7 in November but still positioning itself above analysts’ expectations . Still on the subject of data, the entire Eurozone GDP grew by 2.2% in the third quarter after + 2.2% in the second.
In the EU, the figure marks + 2.1%. Compared to a year earlier, GDP increased by 3.9% in the Eurozone and by + 4.1% in the EU. In the United States, on the other hand, productivity has fallen to the lowest levels of the last 40 years but the figure does not in any way affected the market euphoria. The lists of the rally is in any case for a large part due to the absence of fears about Omicron variant.
In Piazza Affari, in addition to tech and fashion, they have especially cyclical stocks such as CNH gained ground (+ 4.1%), Stellantis (+ 3.5%), Interpump (+ 3.6%) and Pirelli (+ 3.1%), favored by a positive report from Exane BNP Paribas. Even Ferrari’s top rising 3%. In the queue to the main list, however, close the utility company and ‘adjusted as Inwit, Italgas and Snam (all on par’). General advanced by another 0.5% after the rally of recent sessions.
There best European stock exchange is AmsterdamWhich earns 3.51%, Paris marks + 2.91% with the CAC 40 share that settles over 7 thousand points while the Dax 40 closed at + 2.8%. At sector level, the fund tech and ‘the best (+ 5.58% Eurostoxx), followed by raw materials (+ 4.6%) and cars (+ 3.2%) and insurance, telecommunications and utilities are less bright with 0.9% increases. Also strong luxury with LVMH and Kering that in Paris rise by more than 5%, while in Frankfurt and ‘out the car industry with Volkswagen and Porsche bouncing by more than 8%, while RWE yields 0.3%. On the shields in London commodities with Anglo American (+ 6.5%), Antofagasta (+ 4.3%) and Rio Tinto (+ 4.8%).
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