Unicredit superstar +6,07% and Piazza Affari, queen of Europe, +1,96%: positive results for the day for the markets, especially for the Ftse Mib, thanks to the rebound in financials and the rally by Fiat. Milan remains below the psychological threshold of 20.000 points and stops at 19.824, but recovers at least in part the ground lost in the previous sessions. Madrid also gains one percentage point; warmer Paris +0,27% and Frankfurt, +0,13%. London undertone, -0,46%, after yesterday's crash, with the pound down slightly against the euro and the dollar. Today came the green light from the House of Commons to the elections bring forward June 8th. Prime Minister Theresa May's stated goal is to strengthen the Conservative Party to lead Brexit, while Brussels adjusts its timing for the start of talks, pending the electoral outcome.
Opening Bell tuned to Wall Street; the session continues in positive territory for Nasdaq and S&P500 while the Dow 30 is weakened by the red start of IBM, which yesterday reported the lowest quarterly revenue since 2002, down for the twentieth consecutive quarter. Instead, the banks are dusting off with the excellent quarterly report from Morgan Stanley.
On the monetary front, the euro lost 0,19% against the greenback and is currently trading at 1,070. Weak oil with US stocks, Brent -1,42%, 54,11 dollars a barrel. Gold down, -0,78%, 1279,5 dollars an ounce. The Italian secondary loses share in the final and the ten-year spread with the bund remains at 207,20 (+0,14%), but the yield rises to 2,28%, also due to the weakening of the German paper.
On the Ftse Mib, the banks are the protagonists of the day. New recommendations for the system are coming from the Monetary Fund, but also the recognition of the progress achieved in a delicate period. The six-monthly report 'Global Financial Stability' sees positively the request for the precautionary recapitalization of Mps, the capital increase of Unicredit, the reform of the cooperatives with the merger that gave life to Banco Bpm; the continuation of the reform of cooperative banks. What is needed now are "new measures" to continue cleaning up non-performing balance sheets. Furthermore, there are many institutes in the area and there are too many branches.
In Milan purchases reward above all Unicredit; Entente +3,6%; Bper 5,38%, but almost all the financials show increases close to or greater than 2%. Outside this perimeter, Fiat stands out, +4,38%, with data on registrations for March, better than those of the market. Good Ferrari, +1,67%.
Final sprint for Mediaset, +1,61%, after a day almost entirely in the red. With the markets closed, the Biscione then communicated the accounts for 2016, which mark the worst loss ever. Telecom is also positive, +1,41%, after Agcom ordered Vivendi to reduce the share capital of one of the two companies within a year.
Industrial stocks such as Buzzi Unicem +1,53% and Cnh +1,75% regained share. Leonardo's rally continues +1,91%. Ynap improves +2,14% in fashion. Sales instead affect Salvatore Ferragamo -1,46%. Atlantia catches its breath, +0,56%, after yesterday's rejection by the market with the spread of the news of a preliminary integration proposal made to Abertis.
Outside the main basket, Juventus remains on the shields, + 12,77 %, on the day of the return match with Barcelona to access the semi-final of the Champions League. Exploit of the Sole 24 ore +21,46%. Among the worst performers is Marconi Airport in Bologna (-2,77%) one week before the meeting.
