Fly Meta (+14% approximately) to New York after quarterly results higher than expected and Wall Street moves in progress despite an unexpected drop in GDP in the first quarter (-1,4%). But Joe Biden reassures: "The American economy continues to be resilient", in an unprecedented historical phase, between "Covid-19, the Russian invasion of Ukraine and the increase in inflation worldwide".
Thus the mood of the European lists, which had cooled down in the afternoon, has regained momentum. The finale of the continental exchanges is in clear progress: Piazza Affari rises by 0,95%, regains 24.055 basis points and is in line with Paris +0,98%; Amsterdam +1,38%, Frankfurt +1,35% and London +1,15% are even brighter. Cautious Madrid, +0,37%.
Volatile exchanges and unknowns on gas
Taurus finds space today, even if the market climate remains volatile, in a world that has become even more complicated with the conflict in Ukraine where a war on the ground continues that seems destined to last. Meanwhile, the economic war is experiencing a new chapter with the news from the FT that some operators in Germany, Austria, Hungary and Slovakia are gearing up to pay for gas in rubles, as demanded by Moscow, by opening a double account with Gazprombank where they would be automatically converted payments made in Western currency. Eni (+1,76%) is waiting to see if this payment represents a violation of the sanctions (the next payment for the six-legged dog is in May). And a confirmation in this sense comes from Brussels: according to the spokesman of the EU Commission, in fact, the double bank account circumvents the sanctions and constitutes a de facto loan to the Russian Central Bank.
Meanwhile Gazprom announces record results in 2021, thanks to the post-pandemic recovery. The group controlled by the Russian state and which announced yesterday that it has suspended supplies to Poland and Bulgaria, recorded a net profit of 2021 billion rubles (2.159 billion euros at current exchange rates) in 28,4, against 162 billion in 2020 (2,1 billion euros), i.e. a result multiplied by more than 13 times.
Inflation runs; yen at 20-year low
In the meantime, the trend in inflation is worrying precisely because of energy prices. In Germany it is still a record in April (+7,4% the trend), but the race in prices in the euro area could be very close to the peak, at least according to the number two of the ECB, Luis de Guindos.
Inflation is also biting in the US in the first quarter. The PCE figure grows by 7%.
On the currency market, the yen touched its lowest level against the dollar in almost twenty years, after the confirmation of the ultra-expansive monetary policy by the BoJ. On the other hand, the greenback is establishing itself more and more as the favorite safe-haven asset in this phase and the euro is also paying the price, which for a few moments fell below 1,05 to then recover that threshold.
Among raw material oil, which is currently moving in progress, takes courage, with Texan crude gaining 1,5% percentages and trading at around 103,60 dollars a barrel.
On the government bond market, i T-bond prices and returns rose, in particular the Treasury showing a growth rate of +2,867%.
Piazza Affari: Diasorin tonic after the accounts
Queen of the Piazza Affari price list today is Diasorin, +2,95% in view of the accounts it will present on May 6 and in the light of the results of the competitor Qiagen. Nexi +2,73% is confirmed in cash, while Enel +2,42%, Interpump +2,8%, Recordati +2,41% and Amplifon +1,8% appreciate.
The automotive raises its head, even if it slows down in the final. Leading the way in Europe is Volvo Car (+8,46%) which reported profits beyond analysts' forecasts, thanks to strong demand for its products. In Milan, the best blue chip in the sector is Ferrari +1,85%.
The declines are led by Saipem, -2,54%. Telecom also falls, -0,68%, while Il Messaggero writes today that the US fund Kkr has reservations about an imminent commercial agreement between Tim and Open Fiber on white areas, formally due to a difference in values.
Down Leonardo -1,05%. The banks also progressively weakened due to a net decrease by Unicredit -1,08% and Banco Bpm -0,88%.
Coima Res flies out of the main basket, +20,37%, following the announcement of the takeover bid by Evergreen, controlled by Qatar holding, on all the company's shares.
Finally, they go from the Mediaset universe category B Mfe shares plummeted (-7,28%), while those in category A limited the damage (-0,56%) after the announcement of the coupon at 0,05 euro. The Equita broker writes that "the dividend of 5 cents ensures a yield of 9% for category A shares and the decision to guarantee the dividend also to newly issued shares following the takeover bid on Mediaset Espana should be a support for the class A share which currently trades at a 39% discount on class B shares”.
Spreads and yields are rising
The Italian secondary closes in red. The spread rises to 182 basis points and rates go up. The 10-year BTP grew by +2,72%, but the Bund also rose, albeit a little less, by +0,9%.
