In the last session of the week, the European stock exchanges they crossed the mid-session finish line, confirming the weakness of the opening, following the slowdown on Wall Street, which in any case had updated its records with the Dow Jones exceeding the psychological threshold of 40 thousand points. Despite the positive inflation data in the Eurozone (stable at 2,4%), the markets of the Old Continent are characterized by weakness: Milan limits losses (-0,04%) compared to the rest of Europe; more in pain Frankfurt (-0,32%), Paris (-0,43%), London (-0,38%) and Amsterdam (-0,40%). Holds the court Madrid which fluctuates around parity (+0,4%).
Inflation stable at 2,4% in the euro area
Not even the markets are surprised by the definitive data on theinflation in the Eurozone: the rate was confirmed to 2,4% in April, unchanged compared to March, fueling speculation about a possible rate cut in June by the ECB. Just a year ago the rate was 7%. Even in the EU, inflation is stable at 2,6%, compared to 8,1% the previous year. The main contributors to inflation were services (+1,64%), followed by food, alcohol and tobacco (+0,55%), non-energy industrial goods (+0,23%) and energy (-0,04. 3%). Core inflation is below XNUMX%.
“We expect inflation to fluctuate around these values in the coming months, but in the medium term, by 2025, we will stabilize towards our price stability target of 2%,” said the ECB vice-president, Luis de Guindos. Also Isabel beak, a member of the ECB's executive board, suggested in an interview with the Japanese Nikkei newspaper that a rate cut might be "appropriate" for next month, while underlining the Eurotower's prudence.
US futures moved little after the records
I futures on the main US stock indices fluctuate around parity, after the negative session the day before, which saw the Dow Jones close down 0,1% and lo S & P 500 by 0.21%. Also the Nasdaq Composite closed the session down by 0,26%.
Yesterday, the Dow Jones reached a new intraday high, exceeding 40 thousand points for the first time in history, jumping up to 40.051,05. Stocks such as Amazon, American Express and Goldman Sachs led the index with significant gains.
Milan holds up with MPS and Saipem
A business square, banks continue to shine, driven by Ps (+3,81%). Speculation on a possible new sale of shares of the Sienese bank by the Treasury is reviving the sector, after the recent placement of 2,8% of Eni. Positive too Banco bpm (+ 2,78%) and B for Bank (+2,36%). Well too Saipem (+2,58%) after being awarded a new $850 million offshore contract in Angola by Azule Energy, a joint venture between Eni and BP. Also shopping for Snam (+0,64%) after the increase in the target price by Mediobanca to 5,50 euros (it was 5,40) thanks to the positive quarterly result. At the bottom of the list we find Interpump Group (-2,5%) affected by profit taking, Campari (-2,49%) ed Getting very (-2,41%). Rain of sales also for Prysmian (-1,91%), Stellantis (-1,35%) And Iveco (-1,29%).
Out of the main basket, Buzzi (+0,61%) moves into positive territory. The company announced the acquisition of 100% of Cimento Nacional (NCPAR), exercising the put option of the Ricardo Brennand group to acquire the remaining 50% of NCPAR. Active in Brazil since 2018, NCPAR owns five cement plants and two grinding centers, with a production capacity of over 7,2 million tons per year. The price of the operation, estimated between 290 and 310 million euros, will vary based on the real exchange rate. Buzzi will finance the acquisition with its own liquidity, with closing expected by the end of the year.
The other markets
Slightly rising seat for the , which advances to 2.387,6 dollars an ounce. Slightly down Petroleum, with Brent standing at 83,17 dollars per barrel and WTI below 80 (at 79,09 dollars). No significant changes for gas natural in Amsterdam, just above 30 euros per megawatt hour.
On the currency, the exchange euro Dollar it is stable (at 1,08).
Lo spread between BTP and Bund it remained under 130 points. The yield on the 3,76-year BTP stands at XNUMX%.
