Milan’s list concluded the session with a noticeable increase, driven by enthusiasm for the appointment of Mario Draghi as potential prime minister. The former head of the European Central Bank accepted, by reserve, the task of forming a new government.
Ftse Mib closed with a 2.09% performance, outperforming other European markets. Also green is the Dax (+ 0.71%), while Cac closed on par and the Ftse 100 scored -0.13%. Strong contraction in BTP / Bund spread, which closed at 105 basis points, down more than 8 points compared to yesterday.
Wall Street is still struggling. The Dow is down -0.15%, while the Nasdaq Composite is higher by 0.05%, as investors support corporate earnings and prospects for further fiscal stimulus. Also good news from the macro data front: According to estimates by the automatic data processor, there was an increase in private sector jobs in the US of 174 thousand units in January, a number that clearly exceeded the consensus of economists, which stopped at 49 thousand units.
Still on the macro data front, US SMEs for US services, in the final reading in January, stood at 58.3, above 54.8 in December and 57.5 in the preliminary. The data, economists at IHS Markit note, posted the second most consistent growth rate in nearly six years. On the other hand, the US ISM non-manufacturing index settled at 58.7 in January, up from 57.7 in December, beating the consensus of economists consulted by The Wall Street Journal at 57 points.
Gold is trading at par, as it moves around $ 1,835. Strong gains for oil, with Brent and West Texas alike climbing more than two percentage points. The euro was still losing ground against the dollar, with the currency slightly down 0.16%, to 1.2023. (All rights reserved)