After a weak day, Milan recovers in the final and consolidates the gains of the eve, closing at +0,13%, 20.759 points, with the banks keeping the Ftse Mib afloat, against profit taking on industrial stocks; Unicredit, +1,92%, Banco Bpm +2,09%. Uncertain climate in the rest of the continent, engaged in the first stages of the Brexit negotiations, with Great Britain not intending to pay a too high bill (the FT estimates up to 100 million euros) and the EU chief negotiator, Michel Barnier who explains: "it is not a punishment, there is no exit tax, but the UK and the EU have made mutual commitments to jointly finance projects and programmes, decided together and from which we have benefited together".
London loses 0,28%; Paris 0,14%; Frankfurt +0,09%; Madrid +0,09%. Wall Street opens lower, with the Nasdaq weighed down by Apple's performance after the unexpected drop in iPhone sales and the thud of Groupon (-13%), due to a quarterly result below expectations. The situation does not improve with the EIA weekly data on oil inventories, which disappoint expectations. Oil is drifting, but is currently attempting a rebound: Brent +0,42%, 50,67 dollars a barrel.
Investors' attention is also directed to tonight's Fed announcements, especially after the disappointing data on US GDP in the first quarter. The euro weakens slightly against the dollar, compared to the closure and, at the moment, trading at 1,091 (-0,12%). Gold down 0,47%, 1248,72 dollars an ounce.
The Italian bond was positive, with the ten-year spread with the Bund which stops at 193.20 (-2,23%), yield 2,26%. The climate seems serene, a few hours from the TV face-to-face between Marine Le Pen and Emmanuel Macron, the only duel before the ballot. In 2012, the confrontation between François Hollande and Nicolas Sarkozy attracted 18 million viewers, but this time it's the semi-final first leg of the Champions League between Monaco and Juventus to contend for the audience.
Returning to Piazza Affari: at the top of the main list we find Unicredit and Banco Bpm. On the opposite front, Cnh leaves 1,96% on the ground. Stm loses 1,79%, also penalized by the decline in iPhone sales. Leonardo down -1,24%; Prysmian -1,12%; Buzzi -1,26%. Deep red for Mediaset -2,26%. Stocks linked to oil contrasted: Saipem up, +0,89%, Eni down -0,42% and Tenaris -1,04%. The latter was affected by the cut in the target price from 15,6 to 15 euros by Goldman Sachs, which confirmed its neutral opinion. In fashion, Ferragamo loses its edge -1,06%; Moncler still gains +0,39%. Among the financials, Finecobank loses -1,29%. Insurance companies did well with Generali +1,17%. Atlantia falls, -0,63%, while the courted Abertis has closed the agreement to acquire a further stake in A4 Holding and increase the share capital of the company that manages the A85,36 Brescia-Padova Serenissima motorway to 4% the A31 Valdastico motorway.
FCA recovers more than one point, +1,16%, after yesterday's red with the drop in sales in the USA. Technogym slides out of the main basket -6,01%, on the negative judgments of analysts – Kepler which cuts to hold and Banca Akros which reduces to neutral – after the accounts for the first quarter.
