Bags hold in China and the ECB, in Milan the banks shine. Spread at 2 12 months low | EUROtoday

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(Il Sole 24 Ore Radiocor) – A sluggish session for European inventory markets with buyers' eyes centered on the well being of the Chinese financial system and the “Super Tuesday” of the US primaries, in which Dem and Republican voters from 15 states will go to the polls to choose their candidate for the November presidential elections. Eyes up Beijing where the GDP growth objective of “round +5%” in 2024 is confirmed, unchanged compared to the previous year, on the day on which the National People's Congress opens, the legislative branch of Parliament which will above all address the issue of economic growth. But the focus remains on the decisions of central banks, from the words of Jerome Powell relating to the choices of the Fed (6 March) at the next summit of the Bce (March 7). According to analysts at Neuberger Berman, the Eurotower will wait for more solid evidence of a lasting decline ininflation before cutting i ratestherefore believing that a reduction in the cost of money is not imminent.

Among the main financial markets, Milan fluctuates around parity (FTSE MIB), with the threshold of 33 thousand points remaining in sight, while Paris (CAC 40) and Frankfurt (DAX 30) are also cautious. Madrid (IBEX 35) and London (FT-SE 100) were weak.

Saipem rally continues in Piazza Affari. The banks shine

In an Ftse Mib without great ideas, Saipem's rally continues (which adds to the +28.7% achieved overall between 28 February and the day before closing), the stock at its highest level since July 2022. Credit institutions also performed well : Banca Mps in the spotlight while a report today by Morgan Stanley analysts supports Mediobanca and Intesa Sanpaolo, whose rating was raised by “equal weight” a “overweight” with a value goal elevated from 3.60 to 4.10 euros per share. At the underside of the primary Milanese listing are Moncler and Pirelli & C, the latter on the eve of the accounts.

Euro stays above 1.08 {dollars}, oil is falling

Oil fell, with April WTI futures falling by 0.52% to 78.33 {dollars} a barrel and May Brent futures by 0.41% to 82.45 {dollars}. After a cautious begin, with a primary place at 27 euros per megawatt hour, electrical energy costs flip constructive fuel traded in Amsterdam, with a rise of two.9% at 29.69 euros. On the foreign money market, the euro stays above 1.08 {dollars} and modifications palms at 1.0848 (1.0847 at first, from 1.0818 on the day earlier than). The euro/yen trade fee is at 163.15 (163.228 at first, from 162.66) and the greenback/yen trade fee is at 150.39 (150.47 at first, from 150.35).

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Spotlight on bitcoinwhich on the eve exceeded 67 thousand {dollars} and in the present day stabilized just under this threshold at 66,500 {dollars}, nonetheless not removed from the historic excessive of 68,982.20 {dollars} reached in November 2021.