INFLATION DOWN, RATES CUT EASIER
EXCHANGES FLOAT AROUND PARITY
European markets float around parity. There Milan Stock Exchange canceled the initial decline: the FtseMib index rose by 0,16% to 16.956. London -0,12%, Paris -0,13% and Madrid -0,04% fluctuate around parity. Frankfurt rises by 0,63%.
The recovery on the market continues government bonds: the 10-year BTP is traded at a yield of 3,87% (-3 basis points), the spread with the Bund drops to 267 (-3 basis points).
The drop in inflationeuro area (annual rate of 1,2%, sharply down on the previous month), at the lowest point since February 2010, leaves room for an intervention on the cost of money by the ECB: the consensus of economists expects the bank central lower rates to 0,5% from 0,75%.
Little moved the banks in Business Square. MontePaschi +0,92%, Unicredit +0,35%, Intesa +0,57%.
On the contrary in the basket of 50 European blue chips two institutes rise strongly . Ubs +5% on the day of the presentation of the first quarter data. Deutsche Bank +6,5% after the announcement of the capital increase of 2,96 billion euros and the data for the quarter. The German bank announced this morning that it has already closed the resource collection operation started yesterday evening.
Generali rises by 0,43% while the assembly is underway in Trieste. The CEO Mario Greco ruled out the use of a capital increase to improve the solvency margin. As regards the issue of disposals, the manager said that the valorisation process is continuing as planned, it will only end if the price is reasonable: "we are not obliged to sell quickly or badly".
Fondiaria-Sai drops by 0,57%.
Eni +0,06%, insensitive to the pull of BP which rises by 3% in London following the release of quarterly data.
Among the industrialists they go down Fiat -0,84% and Pirelli -1,5%. On the Bicocca firm, Goldman Sachs confirmed the "sell" rating.
Finmeccanica +1,1%,StM +0,8%.
Weak Enel -0,87% and Telecom Italy +0,85%. Falls Luxottica -1,64% to 39,95 euros. After the publication of the quarterly Equita decided to cut the recommendation from "buy" to "hold", the target price remained unchanged at 40 euros.
Ferragamo -1,82%.
