Scholarships today 13 July: positive restart of a crucial week for the Recovery fund


MILANO – 12:45 pm. The stock exchanges are approaching a week that could be decisive for European destinies, given that the agreement on the recovery fund that should accompany the post-Covid economic recovery for the next few years will be sought at the Council on Friday and Saturday. Prime Minister Conte plans a meeting with Angela Merkel today in preparation for the showdown with the so-called frugal countries, which would like to link the aid to a greater control power of the States over the reform plans of the individual capitals.The European price lists thus open in positive territory, in the wake of hopes for a new vaccine against Coronavirus. In the middle of the morning, though, Milano zero the initial leap and the Ftse Mib limits the gain to + 0.2%. The collapse of Atlanta weighs heavily, with the motorway connections increasingly hovering over the Benetton holding company. Instead, Tim is doing well with the government pressing for a single broadband company. The others do better: London salt of 0.9%, Frankfurt grows by 0.95% e Paris by 0.8%. Even futures on Wall Street, despite the incessant increase in cases in the US, indicate an upward start. Investors welcomed comments from the head of the German biotech company BioNTech, who said a vaccine would be ready for regulatory review later this year, while Gilead Sciences said his remdesivir drug was relatively effective in clinical trials.
Closes the stock exchange sharply Tokyo after the rallies in the United States and Asia in the wake of new hopes of finding a vaccine for coronavirus. Tokyo’s Nikkei benchmark index rose more than 2.22% to 22,784.74 points, while the Topix index rose 2.46% to 1,573.02 points.L’euro opens upwards. The European currency is exchanged for 1.1336 dollars and 121.18 yen. Dollar / yen slows down to 106.88. The yuan also slipped back to 6.9957 against the dollar. The spread between BTP and German Bund it opens stable at 170 basis points with a 10-year yield of around 1.25%. On Friday evening, the rating agency Fitch confirmed the judgment on Italy.

Today the IMF he released his forecast on the EU saying that GDP will drop by 9.3% in 2020 to grow by 5.7% in 2021. The product of the Old Continent will reign “at the levels of 2019 only in 2022”. “The sharp divergences in the initial conditions are likely to result in an uneven recovery across Europe,” explains Poul Thomsen of the European department of the IMF. The European economy continues to need help: “budget support remains vital” but with the passage of time resources “will become narrow” and for this “it is time to look ahead and re-evaluate how best to use the limited space of balance”. Signs of pessimism from the analysis of Bankitalia on the economic situation: business expectations are worsening: the opinions on the general economic situation in the second quarter of 2020 “have worsened compared to the previous survey conducted in March”. Firms report a large drop in current demand. Short-term expectations on sales, on the other hand, are less pessimistic, as are those on their operating conditions.

Among commodities, fears about the advance of the epidemic in the US and in other countries continue to maintain sustained prices for theoro on Asian markets that remain above $ 1,800 an ounce: the bar with immediate delivery returns to earn 0.4% at $ 1,803 an ounce. Quotes of the Petroleum on the other hand, pending the Opec meeting this week, on whose table the Saudi request to limit production cuts to prepare for the economic recovery might be able to plan. WTI crude sells 0.72% to $ 40.97 a barrel. Brent lost 0.6% to $ 42.97.

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