European stock markets closed with little movement, despite the positive performance of Wall Street in the first two and a half hours of trading following the publication of the Fed minutes. Operators expected more "aggressive" indications on the next rate hikes.
The Ftse Mib leaves 0,37% on the field (at 21.291 points), subdued like the Cac 40 of Paris (-0,1%) and the Dax of Frankfurt (-0,17%), while the Ftse 100 of London closes the negotiations on parity and the Ibex 35 of Madrid advances by 0,28 percent.
The Btp-Bund spread rises to area 175 basis points, with the Italian 2,11-year yield still at XNUMX per cent
The OPEC countries meeting in Vienna decided to extend by 9 months the agreement (extended to non-OPEC producers, starting with Russia) currently in force to limit the production of crude oil, but ruled out further cuts with respect to the ceiling (1,8 million barrels per day) already agreed in November. Once again Nigeria and Libya have been excluded from the agreement. The prices of Wti and Brent crude fell by about three percentage points, respectively to 49,17 and 51,84 dollars a barrel: a reaction partly explained by the fact that the decision was already incorporated in the prices, partly because the entity of the cuts themselves does not seem sufficient to counteract the continued increase in production in America.
Oil companies shut down hard: Saipem -3,1%, Eni -1,88% while Tenaris limits the damage to -0,9%.
New raises and new historic records for the American Stock Exchange, thanks to the favorable data on the trend of consumption in the USA. Worth noting is the leap of Best Buy +17%: the electronics store chain has raised its year-end targets after the sales boom in the first quarter. Abercrombie & Fitch also recovered, earning 7,14%: in the first fiscal quarter of 2017 sales, albeit down, were higher than forecasts.
On Wall Street, the S&P 500 rises by 0,4% and the Nasdaq advances by 0,6%: both mark new all-time highs. The Dow Jones gains 0,3%. The dollar is trading at 1,121 against the euro, unchanged from last night.
The banks are weak in Piazza Affari, although the minister Pier Carlo Padoan has excluding the hypothesis of the bail-in for banks in the Veneto region: the advice of Pop. Vicenza and Veneto Banca have been summoned for today. In reverse Banco Bpm -2,96% and Ubi -2,5%, in addition to Intesa -0,8% and Unicredit -0,5%.
The suffering of Salvatore Ferragamo continued – 4,4% after the landslide on the eve: the prospects for a decline in sales weigh heavily.
Just below Fiat Chrysler parity (-0,4%). According to reports from Bloomberg, the group has communicated to the federal judge in San Francisco that it can obtain approval within weeks modifications requested by the American authorities for environmental protection. Cnh +1,2%.
Among the utilities, the rise of Italgas stands out (+1,36%), as the presentation of the new plan approaches on May 31 for the presentation of the new plan. Snam +0,9% and Enel +0,6% also did well.
