Piazza Affari tries to leave behind the fears that new banking crises could follow the failure of Silicon Valley Bank, closing the session with a decisive reboundleading the European Stock Exchanges. The Ftse Mib ended trading in progress of 2.36% at 26,800 points.
Closure in sharp rise also for the other European stock exchanges which are trying to overcome the shock of the failure of Silicon Valley Bank, confident that the meltdown will not affect the global financial system and not be followed by other banking crises. TO Paris the Cac 40 closed the session up 1.86% at 7,141 points, at Frankfurt the Dax index rose by 1.83% to 15,232 points while a London the Ftse 100 finished up 1.17% at 7,637 points.
Wall Street proceeds positive underpinned by the belief that in line with expectations inflation data gives the Fed room to pause in interest rate hikes. The Dow Jones is up 1.20% to 32,200.31 points, the Nasdaq is up 1.89% to 11,401.82 points while the S&P 500 is up 1.77% to 3,923.78 points .
First Republic flies to Wall Street, where it marks a 61% increase at the start of trading. The bank has come under pressure with the failure of Silicon Valley Bank and has racked up heavy losses in recent sessions. European stock markets rebound.
Meanwhile Moody’s cuts US banking outlook from stable to negative following the “rapid deterioration of the operating environment” following the bankruptcies of Silicon Valley Bank and Signature Bank.
Inflation slows down in the US. Consumer prices in February rose by 6.0% on an annual basis, in line with analysts’ expectations. On a monthly basis, the increase was 0.4%, in line with forecasts. Consumer prices had risen by 6.4% in January. The inflation figure is at its lowest since September 2021. Despite the slowdown, it remains well above the Fed’s 2% target, on which pressure remains high.
ISTAT
The international scenario remains characterized by a high degree of uncertainty and downside risks. He claims it Istat in the Note on the trend of the Italian economy of February underlining that “a path of inflation recovery is beginning to take longer than initially expected”. In the fourth quarter of 2022, Italian GDP recorded a slight negative economic change as a synthesis of the positive contribution of net foreign demand and the negative one of domestic demand net of inventories.
Source: Ansa
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