It is a positive day for the European Stock Exchanges, driven by the Frankfurt Stock Exchange: the Dax 30 gains more than 2% in the middle of the day, also thanks to a Zew index on the climate of confidence in the German economy which performed much better than expected in March, resulting in a clear recovery. Business Square at midday it was around +0,5%, firmly above 18.000 basis points. Paris over 1%, London +0,6%.
Among the best titles of the Ftse Mib to report yoox, Ps, Stmicroelectronics and Cnh Industrial, all with a gain of more than three percentage points. Contrast the banks instead, on hot days of the Atlas fund: at the end of the morning Bper and Intesa Sanpaolo are suffering, Banco Popolare is also in negative territory while Unicredit gains more than 2% to 3,392 euros per share after the bank in piazza Gae Aulenti signed an agreement with Quaestio Management sgr, on which the Atlante fund depends, for the subscription of the unopted share capital increase of Popolare Vicenza linked to the 'hypo. The institute led by Federico Ghizzoni thus eliminates a heavy factor of uncertainty given the guarantee given to the operation.
In the meantime, subscriptions to the fund launched by the Government continue at a rapid pace: as of yesterday evening, 3,63 billion had been raised, of which 2 from Intesa (1 billion) and Unicredit (1 billion), plus 500 million each from the Foundations and from CDP. It is probable that the endowment could reach a maximum of 6 billion. At the end of the morning the worst blue chip is Finmeccanica which loses almost 2%.
Clearly rising the Petroleum, after the Doha shock: both Brent and WTI are trading well above 40 dollars a barrel, around 43.66 and 41.75 respectively. This supports energy stocks, which however record average gains: Eni +0,9%, Saipem +0,3%, better than Tenaris with +1,4%. Smart -0,3%.
Btp-Bund Spread slightly rising above 120 basis points, while the euro climbs a bit against the dollar: now the exchange rate between the European and the US currency is fixed at 1.133285. On the macroeconomic front, it should be noted that employment in the area OECD in the fourth quarter of 2015 it increased by 0,2 percentage points compared to the previous 66,5%, thus returning to the highest level recorded before the crisis in the first quarter of 2008.
