The winds of the tariff war subside and the European stock exchanges go to the rescue. Piazza Affari takes part in the party, energized by theentrance to the Cassa Depositi e Prestiti in the match Telecom (+ 3,75%) and from news on the Magneti Marelli spin-off that drive the title fca (+ 5,7%).
In Milan +1,9% the index advances over 22.800 points, a neck and neck above Frankfurt +1,8% and Paris +1,7%. Madrid +1,6% and price lists outside the Eurozone also performed better: London and Zurich both +1,3%.
The slowdown in the European economy, highlighted by the slowdown in the PMI indices (55,2 against 57,1 in February) and by the modest increase in retail sales (+0,1%) did not affect the optimism of the markets.
The euro moved little, the BTP weakens to 1,75% yield, from 1,71% yesterday. Bund at 0,52%, from 0,49% yesterday.
In Milan it holds court Telecom Italy (+3,75%). Today the board of directors of Cassa Depositi e Prestiti should decide in favor of entry into the capital, with a share of around 5%. The operation should take place very quickly: CDP expects to participate in the shareholders' meeting on 28 April. Entry into the capital will take place through block purchases, without direct purchases of the group's shares on the market. The board of the CDP, always reports the agency, is convened for today at 15 pm. The amount of the operation will be around 550 million euros.
Mediaset +0,7%: Ubs raises recommendation to Buy.
The stocks most affected on the eve of the clash on tariffs are recovering. Advance stm (+2,8%) together with Fiat Chrysler (+5,7%) after the news on the Magneti Marelli spin-off; Brembo +1,5%. Drive the rebound Cnh Industrial (+ 3%).
The banks were positive, with the sector index gaining 1,75%. Unicredit (+1,5%) aims to sell two billion euros of non-performing loans by the end of the year. Il Sole24Ore writes it. Should the transaction be completed, the NPE (Non-performing exposure) ratio would fall below 10%.
Sale Unipol (+1%): Unipol Banca is preparing to sell €400m of bad loans. Well too Where's Banca (+ 2%). B for Bank +2%. Continue the recovery of Monte Paschi Bank (+ 3%).
Higher risk appetite leaves more defensive stocks behind, with most utilities at the lower end of the core index alongside Recordati.
Brent futures gain 0,15% to 68,11 dollars a barrel. Well the oil: Eni + 1% Tenaris +2,3% and Saipem +1,5% on the day of renewal of the top management.
Out of the main basket Trevi + 4%.
