A climate of greater confidence returns to the European markets, which end a fluctuating week well. Milan rises by 1,26% and stops at 21.567. Fiat rebounds by 3,9%, after the crash of the last two sessions; on shields Cnh +5,35%; the bankers are positive. Ferrari, on the other hand, falls back -1,97%.
The leader of the European markets is Madrid, +1,41%. followed by Paris +0,66, London +0,46, Frankfurt +0,39%. The good intonation is also inspired by the words spoken yesterday by Mario Draghi in Tel Aviv, according to whom "the crisis is behind us"; however, the consumer confidence index of the Old Continent rose less than expected in May (+0,3 against +0,6).
A wave of optimism comes from Wall Street, with the Vix, the volatility index, down 9% and an opening bell in tune. At the moment, concerns about Donald Trump's ability to carry out the promised reforms seem frozen, while the president leaves the White House for his first institutional trip, which leaves from Saudi Arabia, passes through Rome, stops in Brussels and concludes at the G7 summit in Taormina. Meanwhile, the euro appreciates against the dollar, 1,119 (+0,87%) and is preparing to close the best week since June 2016.
Among raw materials, we note the rally in oil, in view of the meeting on 25 May, which should sanction a new phase of production cuts. Brent is 53,56 dollars a barrel (+2%), Wti is back above 50 dollars. The weak dollar favors gold: 1253,11 dollars an ounce, +0,58%.
The positive phase of Italian debt continues with the 2,13-year bond limiting the yield to 175.60% and the spread with the Bund falling to 2,34 basis points (-XNUMX%), the lowest since January.
As far as equities are concerned, the best blue chip today is CNH, partly reflecting the positive quarterly results of the American rival Deere. Fiat also recovers a slice of what it lost in recent days, due to the events related to emissions in Europe and the USA, announcing, among other things, that it has asked the American authorities for certification of diesel emissions on the 2017 models under accusation, given which now have up-to-date software. Brembo also stands out in the sector +2,23%; while Ferrari sells, after recent gains. The purchases lifted Buzzi Unicem, +3,53%, penalized in the first sessions of the week by "Trumpgate". The stock also benefits from Berenberg's promotion to 'buy' from 'hold'. Telecom also recovered, +0,92%, a stock that suffered particularly yesterday due to its exposure to Brazil.
Almost all the financials are up, among which Azimut stands out +2,24%; Finecobank +2,59%. Ubi +2,37% and Unicredit +2,07% did very well. Among the insurance companies, Unipolsai shines +1,7%.
The utilities were brilliant, in particular A2a +1,86%, Enel +1%, Italgas +1,69%, Snam +1,83%. Important meeting for Ferragamo +2%; Leonardo +2,55%; Stm +1,1%; Ynap +1,39%; Post +1,03%. Oil companies follow the black gold, Eni +1,21% and Tenaris +0,84%; Saipem remains weak -0,28%.
Outside the main basket, Creval stands out +4,69%. Fincantieri climbs 2,5%, after yesterday's gains, on the day of the signing of the agreement for the acquisition of 66,66% of the capital of STX France from its current shareholder STX Europe.
