The stock exchanges rebound on the wave of the possible recovery on the front of the duties. At dawn they are taken US tariff increases on Chinese goods, but the news, already taken for granted, does not hinder the ongoing negotiations between the two superpowers. And so, after four days of declines, after China, Europe too is back to the plus sign. Milano (+0,85%) tries to climb above 21.000. Rises of just under a percentage point also for Paris e Frankfurt. In March, German exports rose by 1,5%, against the expected -0,3%. Madrid +0,50%. Outside the Eurozone, London + 0,5% Zurich + 0,9%.
In March the Italian industrial production it fell by 0,9% after the increase in February, but in the January-March quarter it marked the first positive change since the fourth quarter of 2017: to find a positive change, you have to go back to the last quarter of 2017, when it had marked +1,1 %. More marked decline for the retail sales, still in March, with a -3,3% compared to the same month of the previous year.
6,5 billion euros were placed by the Treasury Bots at 12 months, with a coverage ratio of 1,6. The yield was 0,122%, up 5,2 basis points. After the auction the Btp/Bund spread it fell to 272 basis points.
In great evidence in Piazza Affari Unipol Sai: +5% after the bills and presentation of the new business plan 2019-2021. Cumulative net income is forecast at €2 billion, about €150 million above forecasts. Dividends of 1,3 billion euros will be distributed over the three years, slightly above forecasts. Salt too Unipol (+5%), which plans to distribute 600 million euros in dividends over the course of the plan.
Also good Catholic (+0,7%), which closes the first quarter with 26,5 million euro of net profit, up 10%. Overall revenue jumps 31% to $1,66 billion.
They also recover banks and managed savings. Unicredit ed Where's Banca they go up by 2%.
Weak B for Bank (-0,3%). In the first three months of the year, revenue totaled €495 million, down 43% year-on-year. The interest margin it marks a 7% year-over-year decline to 274 million, and is flat from the prior quarter.
In March, loans to the private sector grew by 0,8% on an annual basis, but recorded a slowdown compared to the +1,2% in February, according to what emerged from the publication "Banks and money: national series" by Banca d' Italy. Loans to households increased by 2,5%, while those to non-financial companies decreased by 0,7%.
Asset management companies are on the rise, in particular Azimuth (+2,7%), down sharply yesterday after the publication of the quarter's data, even if profit and revenues beat consensus estimates.
Contrasting trends in luxury. Advance Moncler (+2,9%) after the accounts and positive forecasts on the sales trend in April. Equally positive notes for Salvatore Ferragamo (+3%): Morgan Stanley raises the rating to Equal Weight.
Still in red though Tod’s (-0,8%). In the first quarter, revenues amounted to 216 million euros, down by 5,7%. The company warns that it will not be easy to achieve the results expected by analysts.
The leap forward of Fincantieri (+4%). In the first quarter, Ebitda stood at 90 million euros, in line with last year's result. Orders acquired rise to 6,5 billion euros, thanks to a record number of contracts for the construction of cruise ships.
The recovery of industrialists continues Leonardo (+1,5%), good Prysmian (+ 1,4%).
