The new week of the European markets opens under the banner of caution, between reduced trading due to the absence of London (which is still celebrating the coronation of King Charles III) and the slightly negative trend of Wall Street in the American morning.
At the end of the session Business Square marks an increase of 0,28%, to 27.426 basis points, in line with Amsterdam +0,29%. Progress is more marked a Madrid, +0,68%, while Paris records a modest +0,11% e Frankfurt it is flat.
The mood of European investors during the day was affected by the disappointing data on German industrial production, which fell more than expected in March (-3,4% on February), above all due to the trend in the auto sector. A picture that does not leave you calm on the economic prospects of the euro area.
Wall Street stalled
In the USA, after the macro data seen last week and which have largely removed the specter of recession, we remain at the window in view of the inflation data that will be released in the middle of the week (Wednesday consumer prices, Thursday production), while it is hoped that the ongoing negotiations to raise the debt ceiling will be successful.
The banks move in tune, starting from PacWest (+9%) and even the financier Warren Buffett, at the annual meeting of Berkshire Hathaway (+1,65%), he said that deposits should be safe in the banking sector, noting however that the real estate sector is beginning to suffer the consequences of the higher cost of money.
On Wall Street, purchases of banks are balanced by sales of company stocks with disappointing quarterly results such as Tyson Foods (-12,3%) and the drug manufacturer Catalent (-26% worst stock on the S&P500).
Oil on the rise; Bitcoins down
The recovery of raw materials continues Petroleum, heartened by the resilience of the US engine after Friday's jobs data ended a hemorrhage on oil that had lasted for about three weeks. In addition, voluntary production cuts by some OPEC+ members are set to kick off later this month, with the cartel holding its next meeting on June 4. Thus Brent appreciates by 2% to 76,81 dollars a barrel and Wti rises
On the foreign exchange market theeuro-dollar is stable, just over 1,1.
They go down instead cryptocurrency and shares in digital currency and blockchain-related companies after Binance, the world's largest cryptocurrency exchange, suspended bitcoin withdrawals for several hours due to high volumes and rising transaction fees. Bitcoin marks a decline close to 4% to $27.924.
Piazza Affari supported by the banks; fly Mps
Piazza Affari closes in progress thanks to the banks. In fact, it is the blue chip index that leads the way Banking Mount Paschi, +5,82%, which will release its quarterly accounts tomorrow morning, while speculative appeal is growing on the hypothesis that the Treasury could reduce its quota by selling the shares on the market to investors interested in the Sienese institute. Marks an upside of 1,26% Bpm bank, awaiting the accounts and with Intesa Sanpaolo analysts who write in the daily that they "have a positive view on the stock supported by the potential upside linked to speculation on M&A involving the company".
Among the big good Understanding, +1,28%, while Unicredit is more timid +0,21%.
In the upper part of the price list they also shine Cnh +,2,65%, Ivy + 1,42% nexi + 1,49%.
On the opposite side Diasorin -2,3% Interpump -1,48% Inwit -1,43% Erg -1,26%.
Stable spread, savoring the new Btp Valore
On the secondary market it spread between ten-year BTPs and Bunds with the same duration, there appears to be little movement, at 191 basis points (+0,55%), with yields that taper upwards, respectively to +4,23% and +2,32%.
This is an important week for Italian debt, with Fitch due to update its credit rating on Friday 12 May. The Treasury is "reasonably optimistic" about the decisions that the various agencies will take on Italy. "The results will be satisfactory", argues the director general of public debt of the MEF, Davide Iacovoni, also in the light of the very positive GDP in the first quarter. Meanwhile, the Ministry of Economy and Finance announces the launch of BTp Value, a new family of government bonds dedicated exclusively to individual and similar savers (the so-called retail market), the first issue of which will take place from Monday 5 to Friday 9 June (until 13), unless closing early. The first born of these new products will have a duration of four years and a loyalty bonus for savers who will keep it until maturity. The coupons will be periodic and calculated on the basis of pre-established rates that increase over time, which will be communicated on XNUMXst June next, together with the ISIN code that identifies the security.
