There are no good times for stock lists, plastered waiting for one rate turnaround. The situation is reflected in the quarterly accounts of the main markets of the Old Continent: Euronext, which owns Borsa Italiana, leaves 3,54% on the ground in Paris after recording a significant drop in revenues and profits in the first quarter. Meanwhile the London Stock Exchangeand dropped 3,91% after a consortium of investors including Blackstone and Thomson Reuters sold shares in the group for around £2,7 billion.
Stock exchanges latest news: the ECB sees falling investments in real estate
Meanwhile they travel in pale red the Bags under pressure from concerns over the US debt ceiling and a string of negative quarterly quarters that weighed on investor sentiment. starting with the German Commerzbank, down 6,7% after the quarterly. A passage of the Economic Bulletin of the European Central Bank on the impact of the rate hike on the real estate market. A one-point short-term increase in rates, we read, “leads, other things being equal, to a decline in real estate investment in the euro area by about 5% after about three years”.
Piazza Affari yields but remains above 27.000 points. Btp, Bund and Tnote are in adjustment
In this context, the main index of Milan dropped by a quarter of a point just above 27 points. The bond market is also settling: the ten-year BTP treats at 4,19%, the German bund at 2,30%. The differential (spread) with Germany remains nailed to around 186 points, on the levels of the previous closure. The German Finance Agency, the debt management office of the federal government, has announced the placement of a tranche of 3,31 billion euro of XNUMX-year Bunds at a yield of 2,31%, down sharply from 2,51% at the auction a month ago. The Treasury Notes at ten years it is at 3,53% pending the decisive negotiations for the go-ahead for raising the debt ceiling.
Good at Piazza Affari Interpump and Stellantis, recover Tim
On the stock market of Piazza Affari in positive territory Interpump +2,4% after yesterday's quarterly data showing double-digit organic growth in both divisions and margin expansion thanks in part to the successful integration of White drive.
They follow closely stellantis +1,4% and Telecom Italy. In the first case, the recovery of registrations in Europe also counts in April, Equita also underlines that the group's registrations in Europe have underperformed compared to the sector, probably "due to the delays in returning to normal with the shortage of components compared to other competitors".
On Tim's front, agitated by rumors and maneuvers in view of the final offer on the network, Vivendi's choice of the director who will replace the outgoing Arnaud de Puyfontaine should be recorded today. It's about Luciano Carta, former president of Leonardo. Dario Scannapieco, president of Cdp, says Cassa is reviewing his offer for the network together with Macquarie, denying that he wants to withdraw.
Bene Leonardo +0,8% for which Akros cites the hypothesis of an agreement between the Italian and German governments in the defense sector, which could lead over time to significant contracts for the group.
Salt more than 2% DoValue, promoted to "buy" "accumulated" by Akros which cites, like other brokers, the favorable outcome of an arbitration in Spain on tax matters.
Banks and asset management lead the declines
Concern for any rises interventions on extra profits of the sector after a golden quarter. Le Monde's anticipation of a similar measure in France, linked in truth to the results of a tax investigation into the main groups, takes effect. Fineco, protagonist of the savings show, drops by a generous 2%. In red Banca Bpm and Bper. It also loses momentum Mps Bank -1,2%.
I US futures signal a positive start, in the hope of progress in the debt negotiation.
