Profit-taking weighs on today European lists, which closed a still uncertain session with a slight drop, conditioned by the many quarterly reports released during the day and by the out of tune start of Wall Street, where volatility has returned to regional banks.
Business Square loses 0,29% and falls back to 27.346 basis points, with the shares of the important financial sector in no particular order, ranging in fact from the leap of Bpm bank (+7,33%) to the thud of Finecobank (-5,28) and Ps (-2,17%), despite higher-than-expected quarterly results for all three companies.
On the continent the black jersey goes to Paris, -0,6%, follow Amsterdam -0,57% Madrid -0,33% London -0,23%. It is colourless Frankfurt -0,18%.
China, inflation and central banks suggest caution
The variable climate of these days suggests caution to investors, disappointed by the Chinese trade balance data for April (imports -7,9%, exports +8,5%) and by the reduction in credit to households and businesses by small US banks , while the uncertainty of the central banks hovers like a cloud still full of rain, on the eve of the eagerly awaited data on inflation and stars and stripes that will be released tomorrow and the day after. fromprice trend it will be possible to strengthen or weaken the belief that the Fed has reached the finish line of its restrictions. In the eurozone, however, that goal has not yet been achieved, according to many central bankers in the bloc. For example, for Joachim Nagel, German governor and EC member, theEuropean inflation it has not yet reached its peak and more will have to be done, he said in an interview with the Frankfurter Allgemeine Zeitung (FAZ) newspaper, therefore "interest rates should rise further".
Waiting for tomorrow's macro data the dollar raise your head andeuro section below 1,1.
Among the raw materials the Petroleum it retreats, alarmed by the Chinese trade balance and the July 2023 Brent contract drops 1,3%, trading at around 76 dollars a barrel.
Wall Street paralyzed by doubts
Wall Street moves weakly in the first hours of trading, unnerved by the stall between Democrats e Republicans on changing spending limits, a disagreement that could lead to the bankruptcy of the US administration on June 22 June and to avoid which this evening (at XNUMX pm Italian time) there will be a meeting in the White House between President Joe Biden, the Republican House number one Kevin McCarthy and other congressional leaders.
In the equities, sales are back up pacwest (-5,7%) and goes down PayPal (11%) who cut margin forecasts. It goes down too Skyworks (-5,5%) which forecast revenue and earnings below estimates for the current quarter. Instead, it is appreciated Boeing (+1,2%) with a maxi order from Ryanair for 300 737 Max-10s, for 40 billion dollars.
In Piazza Affari, Banco Bpm, Bper and Unipol shine
On the podium of Business Square they go up today Bpm bank, Bper +3,9% and Unipol +1,64%. The bank led by Giuseppe Castagna followed in the footsteps of the quarterly accounts higher than forecasts and thanks to the upward revision of the targets. Banco Bpm also expects the distribution of dividends for 1,25 billion in the next two years, double the amount compared to the two-year period 2021-2022.
Bper will show its quarterly performance tomorrow
At the top of the list there are also titles in the automotive sector such as stellantis +0,82% and managed savings as Post + 0,63%.
It's cautiously positive Diasorin, +0,15%, which reported first-quarter adjusted net income of €59 million, down 39% year-ago on revenues of €290 million, down 19% year-ago due to lower revenue recorded by the respiratory molecular business with a performance of -20%. Based on the first quarter data, the diagnostics company confirmed its guidance for 2023.
The worst blue chip of the day is Finecobank, which drops to its lowest level since mid-March below 13 euros, following the quarterly and above all the update of the 2023 guidance which contains a downward revision of the financial margin, the main revenue item of the asset management group alongside commissions.
They retreat Prysmian -2,31% and Saipem -2,12%.
It also loses altitude Monte Paschi Bank, which also exceeded analysts' expectations with a profit of 236 million in the first quarter.
The spread goes up
Lo spread it rises, albeit slightly, even today and reaches 192 basis points (+0,63%), with growing rates for the 4,26-year BTP indicated at the end at 2,33% and for the Bund with the same duration at XNUMX %.
