Piazza Affari marks a moderate decline at the end of a morning that saw the price list move within a narrow fork. The EU economic forecasts they only slightly raised their growth estimates (+0,6% in 2015, +1,4% in 2016) but public debt will reach a peak of 133,1% of GDP.
The index Ftse Eb moves back by 0,71% ahead of Madrid (-0,24%). Slight gains for Frankfurt and Paris, both +0,10%. London, closed yesterday, rose by 0,14% two days before the elections.
Athens loses ground (-2,5%) after the ultimatum of the Monetary Fund on the debt. The Greek ten-year yield rises by 60 basis points to 10,76%, yesterday it fell to the lows of the last two months.
Weak i BTP reflecting the ruling of the Consulta on pensions. The spread between Btp and Bund it goes back to 116.
In Piazza Affari, the rise of fca (+1,4%) on the wave of the excellent data of April sale in Italy.
Among the industrial companies, Finmeccanica +1%: the CEO Mauro Moretti anticipated that the data for the first quarter are good.
Salt too Prysmian +0,5% promoted by Citigroup to Buy from Neutral. Takes benefit instead for Tenaris, after yesterday's rally, and on Stm (-1%).
Asset management companies are positive: Azimuth +1% thanks to the promotion of Mediobanca to Outperform from Neutral. Mediolanum + 0,2%. General Bank it rose by 4,5% following the presentation of the data for the first quarter of 2015, which closed with sensational results.
The Stoxx index of European banks rises by 0,5% thanks to the push by UBS, up by 6% on the day of the presentation of the data for the quarter.
Italian banks in no particular order after the confirmation of the forthcoming launch of the bad bank. Best of all it does MontePaschi (+3,6%): rumors of an agreement with Nomura are multiplying before the launch of the capital increase. Unicredit -0,7% Understanding -0,5%. Banco Popolare -0,7% Banca Popolare dell'Emilia Romagna + 1% Where's Banca -1%.
Insurance companies back down: Generali -2%, Barclays brought Equal Weight, from Overweight, the recommendation on the title of the first Italian company. UnipolSai -2,4%.
Sales on Telecom Italy (-2%). In luxury Yoox + 0,3% Ferragamo +0,2%. Advance Brunello Cucinelli (+2%) while Luxottica (-2,3%) retraces later the quarterly.
