Bowls stopped waiting for the Fed: the European markets continue the week without momentum and, after yesterday's fractional gains, today close a slightly negative session, conditioned by the worrying trend of Sars-Cov-2 infections in India and the opening in decline on Wall Street, after the previous day's records by the S&P 500 and Nasdaq. Investors linger, waiting for Jerome Powell's words. No interest rate changes or debt purchases are expected, but will the president of the US central bank be able to hint at something about easing stimulus?
In the meantime, government bond yields are rising slightly and in particular the 1,58-year Stars and Stripes scores +0,9% (+XNUMX% compared to yesterday's close). The dollar; the euro is stationed in area 1,2.
In US equities, the focus remains on quarterly earnings: tonight it will be ad A (-0,8%) And Microsoft (-0,35%), after record accounts of Tesla (-4,31%) who have not convinced the market for profits due more to bitcoin and environmental credits sold to other car manufacturers than to their own cars.
In Europe: Frankfurt loses 0,19%, Paris -0,03% Amsterdam -0,45% London -0,28%. Bucking Madrid + 0,5%.
Business Square loses 0,17%. It shines Unicredit, +1,78%, but they weigh Diasorin -5,45% and oil stocks, Saipem -2,67% and Tenaris -2,09%.
The downward revision of the estimates for the first half and for the current year by the French rival would rock the diagnostic company's stock Biomerous (-6,89% in Paris) due to the contraction in the demand for Covid-19 tests, particularly in the United States, where the extensive vaccination campaign is containing the pandemic. Diasorin will release its first quarter results on May 13th.
Continue the descending parable of Leonardo, -1,95%, following the agreement for the acquisition of 25,1% of the German company Hensoldt for approximately 606 million, in a deal valued by the market as "expensive". JP Morgan today cut its recommendation to “Equal-Weight” from “Overweight” with a target price of €7,1 from €8,3 previously.
Pirelli it slipped by 1,67%, looking at the quarterly below the expectations of Michelin (-1,6% in Paris).
Atlantia sells 117% and announces that it will meet the board of directors on April 30 for the "necessary decisions" on the binding offer for 88% of Autostrade per l'Italia (Aspi) by the consortium led by CDP.
The banks are positive: Unicredit it is the best blue chip on the list, after the update on analysts' consensus estimates for the first quarter of 2021, which should mark the institution's return to profit. According to the consensus of the investment banks, Unicredit should have closed the first three months of the year with a net profit of 413 million euro (median value); the estimate compares with the adjusted loss of €58 million booked in the same period of 2020 (net book loss of €2,71 billion). Operating income is expected at 4,28 billion euros (median value), down from 4,38 billion in the first quarter of 2020; the net operating profit is estimated at 1,21 billion euros, after write-downs on receivables for 625 million euros. Well too Bpm bank +1,04% and Understanding +0,55%, while Bper yields 1,09%.
On the rise Prysmian, +1,56%, with copper at an all-time high. They appreciate each other Finecobank +1,21% and nexi +1,07%. Well Telecom Italy (+ 0,9%).
Out of the main basket Mediaset +1,27%, after the 2020 results and the decision of transfer the registered office to the Netherlands.
Red is lit on the Italian secondary: lo spread between 10-year BTPs and Bunds with the same duration, it rises to 107 basis points (+2,16%) and the yield on the bond grows to +0,82%.
After green light, this morning, of the Recovery Plan in the House, tonight it will be up to the Senate to pronounce. Meanwhile S&P Global, in a report dedicated to the effects of the Recovery Fund on the growth of the European Union, says that for Italy the Next Generation Eu could be worth up to 6,5 points of GDP more over five years. The contribution would instead be reduced to 1,9% in a "low impact" scenario. For the EU the gap ranges from +1,5% to +4,1%.
Among raw materials, we note the leap of copper, which hit a high of $9.965 a ton today before pulling back slightly. According to experts, the price of copper reflects on the one hand the weakening of the dollar and on the other an imbalance between a very strong demand, especially from China, and a supply that is growing at a slower pace due to the protests that have taken place in recent days in the mining and port sectors in Chile, which is the world's largest producer of the metal.
THEgold it is flat. The intonation is moderately positive for the Petroleum, waiting for an OPEC+ meeting this week.
