In the aftermath of the Fed conference, which left interest rates unchanged (as expected), all European stock markets suffered, also dragged down by the bad closure of the Asian markets, in particular by the Japanese Nikkei index which lost over 3%. Business Square at the end of the morning it limits the damage, losing less than the others: -0,5%, Paris -1,3%, London -0,8%, Frankfurt -1,15%. Today the wait is instead for the data on US GDP and also for some important quarterly reports from the States, in particular Amazon and Ford.
In Milan it stands out Saipem, which in the aftermath of the publication of accounts at noon it reaches a gain of almost 10% at 0,425 euros per share. Yesterday the company announced net profits of 61 million (-20,8%) on revenues down 6% to 2,8 billion in the first quarter. Ebit improved to 179 million from 159 while net debt stood at 2 billion at the end of March. Above all, Saipem has confirmed its targets for 2016.
Well also the banking sector, mainly driven by Popular: the best in the middle of the day are Bper +2,15%, Banco Popolare +2% and Bpm +1,44%. Unicredit +0,64% to 3,44 euros, Intesa Sanpaolo +0,57% to 2,484 euros per share. In the Ftse Mib, however, Tenaris (-5%), Stmicroelectronics after yesterday's rebound, and Campari suffer.
“It is necessary to maintain the relationship of trust, transparency and collaboration with the board of directors and with all the shareholders, in line with tradition and with the previous management. Also through a fair return on invested capital”. These are the first words of Philippe Donnet, new CEO of Generali, at his first shareholders' meeting: in the middle of the day, while the meeting is still in progress, the Lion's stock loses 2% to 13,44 euros per share.
Assembly day also for RCS and Finmeccanica. For the publishing group, the shares of the major shareholders remain unchanged, with the exception of the American fund Vanguard which participates in the meeting with a share of 2,874% compared to the previous 2,299%. The share lost about one percentage point to 0,591 euros. Finmeccanica shows up at the meeting with the shareholders and changes its name: after 68 years the group changes its name and from January 2017 it will be called Leonardo, the resolution was approved with 99,74% of those entitled to vote.
La Bank of Italy closed 2015 with a net profit of 2,8 billion euro, more or less in line with that recorded in the previous year (3 billion). The gross result was also unchanged at around 6 billion. The amount recognized to the State, based on statutory obligations, will be equal to 2,16 billion, in addition to 1,01 billion for accrued taxes. The total will therefore be 3,2 billion.
Yields on the rise inBtp auction today in the medium and long term. The 5-year BTP expiring on 01/06/2021 was placed with a gross yield of 0,49%, up 15 basis points on the March auction. Demand amounted to 3,367 billion against a placed amount of 2,25 billion. The Btp to 10 years maturing 01/06/2026 was issued with a gross yield of 1,51%, up 27 basis points on the previous auction.
It dates back to it BTP-Bund spread, around 124 basis points. The price of oil remained more or less unchanged, with Brent worth 47,25 dollars a barrel, and Wti 45,35 dollars a barrel. The euro strengthens slightly against the US dollar: today, 1 US dollars are needed to buy 1.13549 euro.
