La Italian political crisis begins to make itself felt on the markets. In Piazza Affari, after yesterday hitting a new high since 2009, it rapidly accelerated downwards. At 13 the Stock Exchange of Milano, the worst, lost 2,11%, just above the barrier of 24 points. Down, even if only by half a point, Frankfurt e Paris, Madrid -0,3%. The only price list in positive territory is London (+0,1%), outside the euro area.
Among the best titles Unilever, up nearly 2% after announcing a share buyback of up to €6 billion. In London, shire earn 2,8% after that Takeda Pharmaceuticals said it will acquire the group for $61,5 billion. Sky it yields about 1% after that Comcast has formally notified the EU Commission of its intention to bid for British pay TV.
Anxiety also affects the debt market: lo spread between BTPs and Bunds it rises above the 130-point barrier and the 1,83-year rate rises to 76,2%, a level not seen since last March. The spread between the Spanish Bonos and the Bund also increased, to XNUMX points.
Il dollar it reached its highest levels since the beginning of the year against the euro, cross 1,188. The president of the Fed, Jerome Powell, during a speech in Zurich, explained that market expectations are quite in line with the rate normalization plan of the US central bank. Powell added that there are good reasons to argue that the adjustment process is "manageable" for emerging economies as well, thus trying to allay fears that the rate hike in the US and Europe risks triggering a crisis for the economy of Countries like Argentina, Turkey or Russia.
Meanwhile, there are only a few hours left before the announcement of Donald Trump's decisions on the sanctions on Iran. Brent futures prices continue lower. On the demand side, the indicators remain solid: in April, according to Reuters calculations, China's crude oil imports reached a new all-time high of around 9,6 million barrels per day. At 12, Brent stood at 75,44 dollars a barrel. At Piazza Affari Saipem -1,5%. They do worse Eni e Tenaris (-2%).
Only two blue chips on the rise in Milan: Luxottica +0,3% and Moncler +1,5% recovery after the profit-taking of the last few days. In luxury, on the other hand, it loses an abundant point Salvatore Ferragamo; the company confirms that the change will penalize business throughout 2018.
Banks under fire "because they are considered proxies for BTPs", says a trader. Unicredit (-2,4%) would be about to sell one billion euro of unsecured non-performing loans. A fund contests the drafting of the financial statements. Understanding -1,7% waiting for the quarterly. B for Bank -5% Bpm bank -4,5%.
Under fire Italgas (-4,8%), which closed the first quarter of 2018 with Ebitda of 198,4 million euros, up 2,7% year on year, exactly as the consensus expected. The debt stands at 3,65 billion euros. Down too Enel (-2%). The Spanish subsidiary Endesa communicated results for the quarter that exceeded expectations.
Telecom Italy -2,44% after top management appointments. Telecom Savings -2,63%. InWit -1%, even if Deutsche Bank raised the target price. Ferrari-2,3% Fiat Chrysler -2%.
Among the minor titles it shines Fila (+4%) after the acquisition of the American Pacon Group, for a value, debt included, of 325 million dollars. Pacon operates in the stationery and painting materials sector.
Fincantieri -3,6% after closing the quarter with an Ebitda of 89 million euros, slightly better than expectations, orders at 1,1 billion euros, far below forecasts.
First Industries -4,6%: Mediobanca suggests taking profit.Su Technogym (-4%) profit taking after yesterday's all-time high. Trevi Fin. -4%.
