The European stock exchanges travel just below parity. The stable macro data only partially reduce the fear of a slowdown in the economy, but the chief economist of Markit, the company responsible for the PMI survey, admits that "it is clear that demand has weakened". The German economy, according to the Bundesbank, may have slowed down significantly in the first three months of 2018 due to an unexpectedly weak trend in manufacturing.
A Milano the index apparently marks a very slight fall (-0,03%) around 23.800. But the drop can be explained by the detachment of the coupons (over two billion) which weighs 0,37% on the index. They retreat Frankfurt (-0,3%) And Paris (-0,2%). In positive ground there is only Madrid. Almost flat London.
Yields are advancing XNUMX-year US bond, which rose this morning to 2,9733% and the German Bund of the same duration to 0,63%, the highest since mid-March.
Lo spread of the Btp compared to the German security, however, remains below 120 basis points. This evening when the market is closed, the Treasury will communicate the details of the medium and long-term offer on Friday 27th.
Waiting for the directorate of the ECB, the cross euro dollar a climbs to 1,2230 from the open's 1,227.
Slow down the oil. Brent at 73,7 dollars from 74 dollars a barrel, the highest in the last three and a half years. It gained 2% last week.
Saipem (+0,6%), obtained jobs in offshore drilling for a value of 190 million dollars. Stable Eni (-0,1%).
Telecom Italy (+0,4%) advances later the ruling of the court of Milan. The Milan judge Elena Riva Crugnola upheld the precautionary appeals of the board of directors of Telecom and Vivendi against the decision of the board of statutory auditors to integrate the agenda of the shareholders' meeting of 24 April 2018, as requested by the Elliott fund. The duel is thus postponed to the assembly already convened for May 4th.
It affects the performance of the index the detachment of the coupon of eight blue chips and seven other stocks listed in the rest of the list.
After the dividend (0,32 euro) the adjusted price of Unicredit records an increase of 1,4%. This morning Barclays raised the rating to Overweight from Equal Weight, readjusting the target price to 19,50 euros from 19 euros.
It does better FinecoBank (+2% considering the coupon of 0,285 euro). They also advance ex-dividend Banca Mediolanum (+1,1%, 0,20 euros, balance), Prysmian (-0,3% 0,43 euros), Cnh Industrial (+0,6%, 0,14 euros) e Ferrari (+0,5%, 0,71 euros). Little moves Luxottica (-0,3%, 1,01 euros) and Recordati (+0,1%, 0,43 euros, balance).
It bounces stm (+1%) despite the ongoing chip crisis in Asia, on the back of lower iPhone sales. High-tech companies, especially those in the chip industry, are down in Asia this morning. Morgan Stanley has warned that the latest iPhones sell less than expected.
Among the utilities, Enel (-0,1%) is evaluating the possibility of raising the offer on Eletropaulo to 35 reais. Snam (-0,5%) entered into a consortium in the tender to acquire a gas pipeline in Brazil.
Soul Holding salt by 1,3%. This morning Mediobanca announced that it has resumed coverage with an Outperform rating.
Heavy the Juventus (-4%) after the defeat against Napoli. Txt e-Solutions +4,6%, on new highs of the last 12 months. Fiera Milano +2,5%: Italian Stock Exchange has re-attributed the STAR status (High Qualifying Securities Segment) to the company's ordinary shares.
