The recovery of oil favored the recovery of the European markets, which were in positive ground in the middle of the session after a weak start.
The plus sign also prevails in Piazza Affari: the Ftse Mib index gains more than half a point around 17.800 points. In the Old Continent the best is Madrid +0,92% ahead of Frankfurt +0,6% and Paris +0,5%. London +0,1%.
The euro/dollar exchange rate is little moved at 1,141.
The yield of the 10-year BTP is 1,47%, unchanged from yesterday.
The decision of the Brazilian Senate to promote (55 in favor against 22) the impeachment procedure of the president Dilma Rousseff coincided with a rise in the real +0,5%.
Also noteworthy is the ruble rebound +2%, following oil. Brent is traded at 47,9 dollars a barrel (+0,7%), Wti at 46,6 dollars (+0,9%).
The Eurostoxx Oil & Gas index gains 1,2% and is the best of the day.
Eni rose by 1,1%, Tenaris +2,5%, Saipem +3,3%. In Paris, Total advanced by 1,3%.
Two disappointments are holding back the Italian price list. Generali loses 2,9% to 12,73 euros after announcing a net profit for the first quarter of 588 million euros, down 13,8% compared to a year earlier and lower than the consensus of analysts (600 million). In the morning, the stock was suspended due to an excess downside at 12,46 euros. “I think the Stock Exchange has a certain volatility in this period. I, on the other hand, am convinced that the results demonstrate the solidity of the company and the validity of the team”. Thus, on the sidelines of a conference on Ariberto Miglioli, the president of Generali, Gabriele Galateri, commented on the reaction of Piazza Affari to the institute's quarterly report.
Drastic fall also for Tod's -5,08%, at 57,90 euros which closed the first quarter with a turnover down by 3,1% to 249,6 million, below market expectations, and warns that the consensus of analysts of a 4% growth in revenues appears today “a bit challenging”. Credit Suisse downgraded the rating to Underperform from Neutral.
In luxury they also suffer Luxottica -1,5% and Ferragamo -0,9%.
The Milan Stock Exchange consoles itself with a shot in the arm for bank stocks. Rebounds after the week's chilling losses the Banco Popolare +2,1% (yesterday 9%), and the other trainee of Pop.Milano +2%. Giuseppe Castagna, CEO of Piazza Meda, confirmed that the exchange rates already set will be respected, despite the stock market turmoil.
Also recovering Unicredit +2,8% and Monte Paschi +2,2%. Understanding +0,8%.
Industrial stocks uncertain: Leonardo +0,17%, FCA +0,13%, StM +0,1%.
