Financial Markets Daily Report 03 febrero 2021
Investors traded in a risk-on mood yesterday amid better-than-expected GDP data in the eurozone (-0.7% qoq in Q4) and a continuation of stimulus negotiations in the US.
- Investors traded in a risk-on mood yesterday amid better-than-expected GDP data in the eurozone (-0.7% qoq in Q4) and a continuation of stimulus negotiations in the US.
- The S&P 500 rose 1.4% on the day, led by shares of banks and industrial goods businesses, as Mr Biden met a group of Republicans to discuss their alternative stimulus package proposal.
- European stock markets also gained yesterday, with the Eurostoxx50 up 1.7% on the day. The gains were broad-based, with most major stock indices rising.
- In Italy, the MIB rose 1.1% and 10-year sovereign yields increased slightly as negotiations continued to form a new coalition government. Markets closed in the country before it was announced that Mario Draghi, former President of the ECB, would be summoned by President Mattarella to form a government.