The index Ftse Mib +1,5% rose this morning to over 21 thousand points at the highest since January 2016. The leap was favored by boom in PMI data relating to services, which jumped to 56,2, a ten-year high, well beyond forecasts. The Spanish figure also showed strong growth (57,6) while Germany and France were not in step: the growth of the German services sector in April, in fact, recorded a slowdown, although remaining solid. However, this did not prevent the Frankfurt price +0,2% from reaching a new high. New record since 2008 for the Cac 40 of Paris from 2015 for the Ibex? of Madrid, both +0,8%.??
On the bond market there were sales of German Bunds, with the yield rising to +0,36% from +0,32%. Btp stable at 2,25%.? The France/Germany spread contracted by 2 basis points to 46.
Dollar down slightly: cross with the euro at 1,091. Data on new jobless claims made last week are expected in the US today.?
The return of risk appetite pushes gold down for the fourth day in a row to $1.235.
Oil falls: Brent falls?by 0,8% to?50,3 dollars a barrel. Eni rises by 0,9%.? Saipem -0,3%
Advances after Telecom?Italia accounts +3,9% while the meeting is in progress. The company ended the first quarter?with revenues and gross margin up sharply, exceeding analysts' estimates.? Consolidated revenues mark an increase of 8,5% to 4,8 billion euros, Ebitda rises by 16,2% to 2 billion. In assembly Arnauld de Puyfontaine reiterated that for the French media giant Telecom Italia ?plays a fundamental role in its ambitious plan to become a global creator of premium content?.
Positive market response also to the quarterly Leonardo?+4% che? closed the first quarter with slightly better results than expected. Revenue fell by 2,4% to 2,5 billion euros.? Has Ebita gone up? by 14% to 330 million euros. Net profit of 78 million (+40%).
After the accounts Snam?sale of 0,5%: closed the first quarter with positive results, in line with the consensus. Net income rose by 19,8% to 254 million euros
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Among the utilities also Terna -0,5%: Rbc cut the recommendation to Underperform from Sector Perform (equivalent to Neutral), however raising the target price to 4,75 euros from 4,5 euros.?
Italgas? -0,8%: Rbc cut the recommendation to Underperform from Sector Perform (equivalent to Neutral), however raising the target price to 4,25 euros from 4 euros.?
Positive banks:?Unicredit +3%,?Intesa +1,5%,?Bper Banca +3,4%,?Banco??Bpm +1,6%.
In the managed FinecoBank?+1,5%: Mainfirst started coverage with Outperform recommendation? and target price at 7,9 euros.? Soul+1,3%: Did Mainfirst initiate coverage with an Outperform recommendation? and target price at 7,1 euros.?
Among the industrialists FCA +1,9%,?stm +0,7%.
