"I'm sure of it: the next few years won't be peaceful." Emmanuel Macron he does not allow himself any triumphalism in celebrating the unexpected success in the presidential elections against a right in any case in recovery. The next parliamentary elections will tell how much leeway the first president to be re-elected since 1965 will have. The financial markets share the caution.
The cross euro/dollar drops by 0,2% to 1,077, a whisker from the lows of the last two years; the index future eurostoxx 50 loses 1,7%.
As for the bond market, the Treasury Notes in ten years it starts again from 2,87%, the construction sector ten-year from 2,66%, Waist German at 0,97%.
Futures on Nasdaq and S&P are down
More than Macron's confirmation, it still weighs on the markets the effect of the forthcoming increase in US rates. Wall Street futures anticipate a 0,5% lower start for the Nasdaq and S&P 500.
The board of Twitter è met yesterday to "carefully" evaluate Elon Musk's takeover offer. After the initial rejection of the offer of 43 billion by the billionaire of Tesla, we moved on to the stage of negotiations.
In Asia the Nikkei 225 South Korea's KOSPI fell 1,75%, down 1,5%. The Australian and New Zealand markets are closed for holidays.
Hong Kong's Hang Seng index lost 2,59%. China Shanghai Composite Index -2,6% and Shenzhen Index -3,0%.
Austin and Blinken in Kyiv with guns
The ongoing war in Ukraine is also negatively affecting investor sentiment. US Secretary of State Antony Blinken and Defense Secretary Lloyd Austin arrived in Kiev for talks as the conflict, which erupted on February 24, enters its third month.
Brent down 3%. EU sanctions are closer
Oil starts down 3%, with WTI below $100. The epidemic in China, the world's largest consumer of crude oil, offsets concerns of a total embargo on Russian oil by the ECB. The EU will impose a full embargo on Russian oil within weeks, according to French Economy Minister Bruno Le Maire. In an interview with the Bfm television channel taken from Kyiv IndependentLe Maire added that this will help stop the flow of foreign currency to Russia.
Burst of data on GDP and inflation. Anti-crisis decree in Italy
Thus kicks off a very intense week both on the macro front and for companies. Important signals are expected on the economic impact of the war: today the confidence of German companies, tomorrow that of US consumers, Wednesday of French and German consumers, Thursday of Italian companies and consumers. The data on the trend of US GDP in the first quarter will be known on Thursday, and on Friday in Italy and in the rest of the EU, together with inflation in the Eurozone.
Italy, having received the confidence of S&P on Friday evening which confirmed its positive BBB outlook rating, is about to approve the new decree to cushion the impact of the crisis, with aid to the economy and new measures to promote independence from resources Russian energy
Overseas, the focus is on Thursday with the first estimate of US GDP in the first three months of the year. The expectation is for a modest +1%, a clear deceleration compared to the previous quarter.
Assemblies marathon: the highlight is the Lion of Trieste
But the week will be particularly hot on the corporate front. We begin today in Paris with the meeting of Vivendi shareholders in which Tim will be discussed, among other things.
But the mother of all meetings will undoubtedly be the challenge at Generali which on Friday will present in Trieste the list of management led by Philippe Donnet with a slight advantage over that of shareholder Caltagirone who is proposing the former of Eastern European activities, Luciano Cirinà.
The American funds British Columbia Investment Management Corporation (BCI) and Employees Retirement System of Texas (ERS), both shareholders of the Leone, will vote in favor of the list proposed by the outgoing board.
Spotlights also on Eni and Intesa. Mfe also meets.
The last week of April, as usual, is the busiest of the year in terms of meetings and board meetings. In addition to Generali, spotlights on Eni (Thursday) and Intesa (Friday).
Tomorrow the shareholders' meetings of Cattolica Assicurazioni, Italgas, Erg, Bologna Airport and Tiscali will be held, in view of the merger by incorporation of Linkem's retail customers division.
Wednesday will be the turn of Biesse, Saras, Il sole 24 ore, Snam and Acea, Brunello Cucinelli. But there is also expectation for the meeting of Rai way should shed light on the plans to get married with Ei Towers (60% of F2i and 40% Mediaset). Mfe, meanwhile, will hold the meeting in Amsterdam in which it will launch the takeover bid on the Spanish subsidiary.
Thursday's agenda is busy: meetings of the boards of directors of Eni, Elica and Seri industrial. Meetings with Tenaris and Mfe-Mediaforeurope investors. Shareholders' meetings of Mutuionline, Elica, Banca Ifis, Aeffe, A2a, Banca sistema, Banca Finnat, Dovalue, Associazione, Zucchi, Finecobank, Mondadori, Marr, Safilo, Eurotech, Unipol. Sabaf, Piovan, Sanlorenzo, Enervit, Bialetti, Toscana airports, Irce, Banca Intermobiliare, Exprivia, Monrif, Falck Renewables, Fullsix, Equita, Orsero, Tinexta, Illimity Bank, Aquafil, Newlat, Banca Profilo, Webuild, Ascopiave, Credem, Gefran and the Tip of Tamburi.
The first meeting for the balance sheet of Ariston, the Merloni family water heater company which was listed in the Netherlands at the end of the year, is held in Amsterdam.
Grand finale on Friday. In addition to the Generali shareholders' meeting, Eni's conference call and the Atlantia shareholders' meeting are scheduled, which will have to appoint the board of directors who will have to govern the offer of the reference shareholder of the infrastructure group.
Finally, spotlights on the Intesa Sanpaolo shareholders' meeting which will have to renew the corporate top management. Also noteworthy are the shareholders' meetings of Recordati, Diasorin, Cir, Terna, Csp International, Sit, Cia, Interpump, Datalogic, El.En, Valsoia. Garofalo healthcare, Gpi, Immsi, Zignago glass, Marzotto, Intercos, Italian sea group, Salcef. Gabetti, Rimini Fair.
On Wall Street the accounts of GM, Microsoft and Apple
No less hot is the stage on Wall Street, grappling with the next rate hike, inflation and the growth of the desire for trade unions: even Apple workers, after Amazon and Starbuck, are asking for representation. On the accounting front, today is the turn of Coca Cola, tomorrow of Alphabet, Microsoft, Ubs, Pepsi and General Motors; Wednesdays by Meta, Samsung, Spotify, Boeing and Deutsche Bank; Thursday by Amazon, Apple, Unilever, Intel and McDonald's as well as Caterpillar.
