the recovery of the stock exchanges continues – Repubblica.it

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MILAN – 4.15 pm. The recovery of the stock exchanges continues after the falls linked to fears related to the spread of the coronavirus and its possible consequences on the world economy.The positive sign characterizes all the main global squares. Milan, which yesterday officially recovered what it had lost with the first news on the epidemic, still adds 1.1% and is getting closer to the maximum since 2018. The protagonist of the day is Unicredit, which beat analyst expectations by communicating the data of 2019; FCA is also doing very well, which today released the 2019 data, confirming the targets for 2020. In the rest of Europe, purchases are less intense: London grows by 0.25%, Frankfurt 0.62% e Paris 0.73%. It also starts up again Wall Street: Dow Jones adds 0.15%, S & P500 0.3% and Nasdaq 0.4%.
Pushing purchases on global markets was also the Chinese move to cut tariffs on American products for $ 75 billion (68 billion euros) of annual imports. The announcement of Beijing will be followed by the operation of the decision from February 14th and will involve the duties applied from September 1st. This is the first concrete step after the signing of a commercial truce with the USA. Just in that agreement, however, there was a note that could immediately become current. China could indeed evoke a clause on “natural disasters and other unpredictable events”, due to the coronavirus epidemic. The news, relaunched on Twitter by the tabloid Global Times close to the Communist Party, however, it could become reality only in the months to come, after a complete evaluation of the economic damage from the disease. Other words of relaxation came from the US Treasury Secretary, Steven Mnuchin, according to which Trump could cut tariffs on China with the ‘phase two’ of the trade agreement.Among these news, the Asian financial markets have moved upwards: Shanghai rises 1.72%, and Shenzhen marks a 2.90% progress e Tokyo it grows by 2.38%.

Declining it spread. The differential marks 131 points against 132 of yesterday’s close. The yield is 0.95%. EUR slightly up: change hands at 1.1003 dollars (1.10 last night in New York). On the yen, the single currency is worth 120.89.

On the front of Petroleum there is a split that could jeopardize the price recoveries of the last sessions. Saudi Arabia and most of the other producing countries would be in favor of a further cut of 600,000 barrels per day but this proposal was rejected by Russia according to which it is not the time to make decisions of this magnitude. On Tuesday, Russian Energy Minister Alexander Novak said that “the most important thing is to evaluate the situation well and make the correct predictions. There are many uncertainties and there may be panic attacks.” On the market, the WTI loses polish and stands at $ 50.8 a barrel.

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