The Milan Stock Exchange begins the month of May with ups and downs: after a brisk initial gain, the list is dragged down by the banks, already targeted by the sales last Friday. About an hour after opening the Ftse Eb it loses 1%, black tie among the main European markets. In the same minutes, Paris gained 0,4%, while Frankfurt gained 0,7%. London is closed for public holidays.
The worst stocks in Piazza Affari are all banking, with the IPO operation of the Popolare di Vicenza which continues to cause concern: Ps (-6,51%), Where's Banca (-6,32%), Banco Popolare (-5,76%), Bank Pop Milan (-5,66% after the meeting which indicated the members of the CDS, which will be chaired by Nicola Rossi) and Unicredit (-5,39%). Bad too Understanding (-2,98% despite the announcement of the sale of Setefi and Intesa Sanpaolo Card, which will result in a capital gain of 895 million for the institution), Mediobanca (-3,76%) and outside the main basket Carige (-5,19%, the Board announced that the offer received from the US Apollo fund for the sale of the 3,5 billion Npl package is not feasible).
On the other hand, the fca (+1,19%) in the wake of the agreement with Alphabet, the holding company that owns Google, for a technological partnership on the Google Car project, the car that drives itself. Good news from France, where in April Fiat Chrysler recorded a 12% annual increase in sales, against +6,5% for the market. Well too Ferrari (+1,2%), pending the accounts for the quarter.
Luxottica, on the other hand, dropped by 1,2% after the data on revenues for the first three months of the year, up by 2,5% to 2,266 billion. Well the Telecom Italy (+0,6%) while awaiting news on the front of developments on the TLC-TV front, above all after the entry of Vivendi, the company's main shareholder, in Mediaset (-0,7%).
On the currency front, theeuro it is trading at 1,1459 dollars (1,1448 dollars last Friday), and 122,04 yen (122,32 yen). In addition, the greenback is worth $106,47 (106,82). The Petroleumfinally, it filed from last week's levels: the WTI, contract expiring in June, dropped by 0,7%, to 45,6 dollars a barrel.
Meanwhile, investors await the European PMI indices for April, anticipators of manufacturing activity in the Old Continent. Today it emerged that manufacturing activity has worsened in Japan, reaching its lowest level in more than three years. The Nikkei PMI released by MarkitEconomics shows a decline for April to 48,2 points from 49,1 in March, recording the lowest reading on the index since January 2013. Output fell at the lowest rate since April 2014 driven by sharp drop in new orders for over three years.
Index this morning Nikkei (-3,4%) was invested by massive sales, caused by a new rise of the yen to 106,1 against the dollar, the highest for 18 months. In one week, the currency rose by 4,7%, the most violent since October 2008.
In fact, the thin volumes of a holiday session favored the Bear launch: the Japanese market, in fact, will close its doors from tonight to Friday for the "golden week" celebration. The price lists of Hong Kong, China and Singapore are also on hold today. However, there is a growing belief that Japanese premier Shinzo Abe intends to announce a new stimulus plan for the economy before the G7 meeting at the end of the month.
