Allez la France. The Exchange of Paris (+4,3%) celebrates the affirmation of Emmanuel Macron, in the lead after the first round of the presidential elections ahead of Marie Le Pen. But the Parisian price list is dragging all the European markets upwards starting from Milano (+3,84%), with the Ftse Mib index flying at 20.500. They also advance Madrid (+ 3,06%) and Frankfurt (+2,85%). Outside the euro area, London is also making progress (+1,77%).
The markets breathe a sigh of relief, as deep as the fear of a collapse of the euro and the European Union has been acute. There common currency it shot up towards 1,10 against the dollar, settling at 1,086 (+1,2%). Goes down their at $1.271 an ounce (-1%) after gaining 6% in the last month (since March 14).
Strong reaction on the market for bond. The yield of the 10-year BTP falls to 2,154% (low since March 6) from 2,25% on Friday, the spread with the Bund it drops by 16 basis points to 182. No negative effects from the rating cut decided by Fitch.
The market climate contributed to the success of the placements of Ctz and Btpei, with the Treasury filling up, allocating 3,25 billion, the maximum supply, against a total demand of 5,665 billion
Those who bet on the recovery of the value of the French debt were right. The 0,35-year Bund yield rises to 0,25% from 23%. The France/Germany spread narrows by 47 basis points to 18, the lowest since January XNUMXth.
Germany's Ifo business confidence index rose more than expected in April to 112,9.
Banks in great dust both in Piazza Affari and in the rest of the Old Continent. The Italian sector index gains 7,78% and the European one 4,35%: the markets are betting more decisively on a rate hike by the ECB by 10 basis points in March 2018, a probability that now stands at 60% versus 20% last week. This morning Kepler-Cheuvreux promoted the European sector to Overweight, justifying the decision with an improving macro picture and with the disappearance of political uncertainties.
The top title is Unicredit (+ 11%), Ubi e Understanding rise in the order of 7%, Bpm bank nearly +6%.
Corre Generali up 3,8%, Unipol + 4,7%. UnipolSai +1,8%: according to La Stampa, the Chinese group Suning (owner of Inter) has offered 110 million euros for the Torre Velasca and would be in pole position. The newspaper reports the position of the company which confirms ongoing negotiations and that the possible buyers are foreigners.
Other top titles also did well. Enel salt by 5%. This morning, Credit Suisse analysts raised the target price on the stock to 5,70 euros from the previous 4,80 euros with a rating confirmed by Outperform. The Bloomberg consensus counts 25 Buys and 6 Holds with no Sell judgments for an average target price of 4,76 euros.
Eni it moved up by 3,61%, to 14,60 euro, in line with the Milan stock exchange despite the detachment of the interim dividend (partial dividend) of 0,40 euro per share. Today, Autostrade Meridionali, Banca Mediolanum (balance), De Longhi, Eni (balance), Ferrari, FinecoBank, Piaggio, Prysmian, Recordati (balance), Servizi Italia pay the dividend.
The price of crude it is up 0,4% to 52,20 dollars/barrel, after closing last week with a fall of 7%. Saipem +2,5%.
Telecom Italy +3,9%: Vivendi has confirmed its willingness to be a long-term shareholder, stating that it sees the company as a key asset in its plan to become a global premium content provider.
Out of the main basket the race of the resumes Juventus: +6% after yesterday's victory over Genoa which consolidates the race for the Scudetto.
