The markets, at least for now, are listening to the Fed: inflation is under control and, if necessary, the Central Bank will be able to intervene in time. And so, after three days of declines and relative fear, the Bull reappeared on the price lists, thanks to the data on the labor market (the weekly requests for unemployment benefits amounted to 473 thousand, against the expectations of 490 thousand) and the resistance of Treasuries: ten-year bonds fell to 1,6539% following the outcome of the auctions favored by Japanese purchases. McDonald's has announced that it will increase salaries in its US restaurants by an average of 10% in the face of difficulties in finding new employees.
Thus the glass half full prevails again, even if today the data on US household consumption, which rose sharply in March, could suggest caution. But both the futures on the S&P 500 index (+0,5%) and those on the Eurostoxx (+0,7%) lead us to foresee a positive start to the last session of the week, in line with the Asian lists.
The Dow Jones Asia index is up 1,2%. Tokyo's Nikkei +2,2%, Hong Kong's Hang Seng +1%, Shanghai and Shenzen CSI 300 +1,8%. Slight decrease for BSE Sensex in Mumbai.
Masayoshi Son, the tycoon who heads Vision Fund (investments in 200 companies for 90 billion dollars) has anticipated the desire to double investments: the goal is to enter at least 500 high-growth technology companies.
ALIBABA FIRST TIME IN RED
Under pressure from the authorities, Alibaba closed in the red for the first time. The company suffered an operating loss of $1,17 billion due to the weight of the Chinese antitrust fine: without it, operating profit would have been up 48%.
The Kospi of Seoul (+1%) was also positive: the two big names in the semiconductor industry in evidence: Samsung Electronics and SK Hynix announced huge investment plans in the production and development of new devices.
ELON MUSK REPUTES BITCOIN, DOGECOIN RISES 33%
The change of direction took off yesterday on Wall Street: the Dow Jones (+1,22%) and the S&P (+1,29%) rose. The Nasdaq is more uncertain (+0,72%).
Weighs the new decline of Tesla (-3,1%). Elon Musk now says he is against Bitcoin, given the devastating environmental impact of miners. The result? Bitcoin under $50.000, the dogecoin, favored by the entrepreneur, rises by 33%.
WALT DISNEY SLIDES, THE DATING SITE DOESN'T TAKE OFF
In the aftermath of the Stock Exchange, Walt Disney's slide (-5% after the accounts): the profit is holding up but the turnover is below expectations. The streaming service Disney+ has reached 103 million subscribers, less than expected by analysts.
Sad debut for Bumble, dating site marriage: -14,3% compared to the price of the IPO.
OIL HACKERS COLLECT 5 MILLION DOLLARS
Almost all raw materials, protagonists of dizzying price increases in recent weeks, are cooling down. WTI oil at 63,7 dollars a barrel, down 0,3%, from -3,3% yesterday. The Colonial Pipeline has resumed operations, paralyzed by the attack of Russian hackers. Contrary to what was initially said, a ransom of 5 million dollars (in bitcoins) was paid.
Among the industrial metals, copper and aluminum are decreasing. Agricultural commodities are on the rise.
AMERICA STARTS AGAIN, THE EUROZONE ADAPTS
America commands, Europe adapts. And so, after a morning in deep red in the wake of the collapse of the US markets, alarmed by the return of inflation, the stock markets of Euroland recover their spirits when, after the weak data on the labor market, the alarm is reduced on Wall Street inflation. The season of the European quarterly reports, moreover, continues with positive results, awaiting the recovery foreseen by the EU for the second half of the year.
MILAN, ALREADY IN DEEP RED, CLOSES UP +0,14%
Piazza Affari (+0,14%) reverses the negative trend of the morning. The main index closes at 24.86 points.
BRITISH TELECOM SINKS, TELEPHONE HOLDS
Mixed performance for the other markets: London below parity (-0,58%). Bt fell sharply (-5,92%) after recording a 7% decline in revenues and a 6% decline in adjusted profit.
Madrid also down (-0,46%). Telefonica closes in the red (-0,46%), jumped up by 2,3% at the start on the wave of results.
Burberry closes in deep red (-4,1%), which also halved its losses in the afternoon after the announcement of a 10% drop in turnover.
Frankfurt instead appreciates by 0,31%.
In Paris (+0,15%) the recovery also speaks Italian. Lvmh rises by 1% following Tod's rally in Milan, the latest prey of the luxury giant. At the head of the list is the Italian-French Stm (+2,5%).
THE BUND RISES, THE SPREAD WIDES
The echo of the tensions on US interest rates also affected the European bond markets. The German bund rose to -0,11%, on the highs of the last two years. In parallel, the spread widens to 117,6 points, against a ten-year yield of 1,05%, +3 basis points.
THE BTP 30 SPREADS OVER 2% AT AUCTION
In the medium-term auction, yields rose sharply: the Italian Treasury placed the maximum amount of 9,25 billion euros in the new 7-year BTP and in the reopening of securities maturing in 2024 and 2051. July 15, 2028 (coupon 0,5%) in its debut was placed for 4,5 billion at a gross rate of 0,69% - the highest since mid-September - compared to 0,362% of the April syndicated placement on the March 2028 bond (coupon 0,25%). Of the 30 years September 2051 (1,7%), at the fourth reopening, 1,75 billion were assigned with a rate that shot up to 2,06%, the highest since April 2020, compared to 1,47% of the auction of Mid January. The bid-to-cover was 1,35 for the 7-year, 1,41 for the 3-year and 1,30 for the XNUMX-year.
NEXI, PIRELLI, PRYSMIAN: QUARTERLY REPORTS SAVE THE STOCK
The recovery of the markets in the last part of the session was facilitated in Milan by the welcome given to some quarterly reports. Nexi advances (+3,3%), which beat expectations and raised its targets, also confirming the closing with the Danish Nets in the second quarter. Well then Pirelli (+2,57%), which closed the first quarter with a clear acceleration in sales volumes thanks to the high value segment, and Prysmian (+2,76%), which grew in the three months with a net profit of 76 millions. Diasorin (+2,44%) and Stm (+1,35%) raise their heads.
THE OILS ARE HOLDING BACK. AMONG THE UTILITIES A2A WELL
On the other hand, the great protagonists of the previous session are slowing down: Tenaris -2,27%, Eni -1,47% and Saipem -0,83%. Oil prices are holding back after the resumption of activity of the Colonial Pipeline, the largest pipeline network in the United States already blocked by an attack by Russian hackers.
Among the utilities, noteworthy is A2a (+1,44%), which closed the first quarter with a net profit of 136 million euros, up 21% compared to the first quarter of 2020.
THE ANTITRUST FINES GOOGLE: UNFAIR COMPETITION WITH ENEL X
Enel (+1,25%) won his battle with Google. The Market Protection Authority sentenced Google to a fine of 102 million for violating the Treaty on the functioning of the EU: through the Android operating system and the Google Play app store, Google holds a dominant position which allows it to favor its Google Maps, damaging other companies' applications. This is the result of the appeal filed by Enel X which accused Google of not allowing its JuicyPass app (which allows you to search for and book charging stations) to interact with Android Auto, a function that allows you to use apps when people I am behind the wheel in compliance with safety requirements and without distractions.
BENEFIT TAKEN ON UNICREDIT, BALZO DI BANCA IFIS
Profits were taken on the banking sector despite the promotions by Moody's, which raised the outlook on some banks from negative to stable, including Intesa (-0,42%), Mediobanca (+1%), Banco Bpm (+0,46 %) and Credem. Unicredit slows down (+1,88%).
In evidence Banca Ifis (+5,46%): in the first three months of the year it achieved a net profit of 20,1 million euro, double compared to the first quarter of the previous year.
TOD'S TAKES FLIGHT. ANALYST APPLAVES
On the shields Tod's, which closed the session with a gain of 6,43% at 47,04 euros. An increase that was also transmitted to Paris for Lvmh, now a point of reference for the Della Valle company. Deutsche Bank raised its target price to 36 euros from 30 euros (hold rating confirmed), after the company published higher-than-expected sales by analysts and the consensus. JP Morgan raised the target price from 22,5 to 26 euros. The target price of Kepler Cheuvreux goes from 25 to 40 euros, with a hold recommendation.
THE MERGER IS GOOD FOR INWIT (+1,4%), RAI WAY IS WAITING
Inwit takes off (+1,39%) after the merger with Vodafone Tower. The wireless infrastructure company closed the first quarter with revenue up 84,8%, in line with consensus estimates. Raiway also advanced (+0,99%) after profits increased by 5%.
