After the knockout on Friday, the week of Piazza Affari opens under the banner of increases favored by the data on consumer confidence and the good result ofbot auction. In any case, the Ftse Mib slowed down in the middle of the session compared to this morning's trading, and at the beginning of the afternoon it rose by 0,31%, while the Btp-Bund spread increased to 164 basis points.
The Treasury has placed all 7 billion euros of Bots at 6 months. Rates rose slightly to 0,594% from 0,504% in March but demand remained solid even if it slowed down to 1,61 from 1,66 (coverage rate).
In the morning, Istat announced the index of consumer confidence in April climbed to 105,4 from 101,9 the previous month. This is the highest level since January 2010.
The other main European Stock Exchanges are also in positive territory, albeit with fractional increases: Paris + 0,50% London + 0,35% Frankfurt +0,69% and Madrid +0,24%. Asia closed down: Hong Kong - 0,41%, Shanghai -1,62%. Tokyo -0,98%.
The price lists have lost their luster as the session progresses and are waiting to be understood the evolution of the Russia-Ukraine front. Today in Brussels new second-level sanctions will be evaluated. However, the door to a diplomatic solution remains open in case of immediate signals from Russia. Oil rises (+0,6%) to 101,2 dollars a barrel, while the euro strengthens against the dollar above 1,3862 (+0,20%)
The markets are also looking at the afternoon data on US real estate market, the Pending Home sales index. The Fed meets tomorrow and Wednesday and should decide on another reduction in securities purchases for 10 billion. On the macroeconomic front, Wednesday's Eurozone inflation data is also expected. The next meeting of the ECB board is scheduled for 8 May.
However, the ferment on the price lists is supported by swirl of M&A, especially in the pharma sector. Today Pfizer confirmed the new proposal for AstraZeneca which, however, judged it inappropriate because it "significantly underestimates" the group (the stock leaps by 15%). Pfizer has until May 26 to announce a formal offer on AstraZeneca.
European pharmaceutical stocks rise such as Bayer which leaps by 4,52%. Then there is the Almston dispute where Siemes has launched a proposal for a split and subsequent merger in response to the advance of General Electric.
In Piazza Affari highlighted Buzzi Unicem + 2,4% Mediaset +2,3%. The Biscione rises on the expectation of an agreement with Prisa for the purchase of 56% of Digital Plus together with Telefonica. At the moment Mediaset and Telefonica own 22% of Digital Plus whose majority shareholder is Prisa. Finmeccanica + 1,5% Where's Banca + 1,4% Tod’s + 1,3%.
At the bottom of the Ftse Mib Cnh Industrial -1,9%, which slips on the Banca Akros note relating to the next quarterly (May 9). In Amsterdam, the assembly approved the 2013 financial statements and CEO Sergio Marchionne confirmed CNH Industrial's 2014 targets. Fiat +1,12%. The Lingotto is driven by the hypothesis of a spin-off of Alfa Romeo launched by Automobile News.
The goal, according to rumors, is to create an independent unit in view of the plan that will be presented on May 6th. However, from Lingotto they let it be known that they do not want to comment on these new press rumors in view of the new five-year plan. Meanwhile Chrysler and its Chinese partner Guangzhou Automobile Group announced today they will produce among new types of Jeeps aimed at the Chinese market. Production will start by 2015.
Among the worst too Mediolanum -0,46% Saipem -0,46% ed Eni -0,38%. Erbolat Dossayev, Kazakhstan's economy minister, told the Financial Times that production from the maxi Kashagan field, which sees Eni in the consortium, risks being delayed by another two years: the aim is still to start production by end of 2015, but could be delayed until 2016.
The Minister of Economy Pier Carlo Padoan stated that European countries are working on the tax on financial transactions. "We hope to obtain a common statement in next week's Ecofin" he said, explaining that the issue will obviously be in the spotlight in the Italian presidency semester but "if we manage to conclude something sooner, so much the better".
In Milan, where the annual convention of Borsa Italiana is on the agenda (which will last three days), Larry Fink, number one at Blackrock, is meeting some managers, including Gabriele Galateri di Genola, president of Generali Assicurazioni and Marco Tronchetti Provera, president and CEO of Pirelli.
