The financial markets hit by the quarterly rain are proceeding in no particular order. Piazza Affari -0,1% oscillates from the opening between a timid increase and a pale decrease. Little better Paris, supported by the numbers of Michelin +2%. Eurostoxx +0,1%. Here they are latest stock market news.
The big banks support the stock exchanges in Europe and make the USA and Japan tremble
In the front row in Europe, the accounts of the big banks. The positive surprise comes from Unicredit +2,74% after announcing the early repayment of the At1 bond from 1,25 billion at the first call date of 3 June. A press release informs that "the bank has no need to issue instruments of this type in the near future". A winning move that is even more effective in the face of the difficulties in the US FirstRepublic (80% less in two days) and of Nomura in Japan (-7%).
Andrea Orcel's move kickstarted Banca Bper, Bpm and Monte Paschi, all three above 2%. The big names of the old continent are on positive ground. Deutsche Bank gains 2,7% as analysts submit QXNUMX accounts. Splash up Barclays +3,8% after the increase in profits. Same script in Madrid for bbva, in great shape due to the excellent performance of the business in Mexico.
Credit holds, confidence improves: and the Euro strengthens again
Credit stability, accompanied by an improvement in consumer confidence in the euro area translates into strengthening of the euro against the dollar. The single currency is close to a year-long high against the dollar, reflecting the resilience of the European economy which contrasts with banking risks and the debt ceiling stalemate in the United States. The euro was up 0,08% against the dollar at 1,104, not far off the one-year high reached yesterday at 1,1096.
Little moved bond market. The 3,43-year Treasury Note is practically at yesterday's levels at XNUMX%.
BPT to 4,31%, +4 basis points. Bunds at 2,43%. The spread is equal to 186 points.
Big Tech flies to the US but chip companies suffer
Mirror situation with respect to the banks for the technological sector. The Big Americans shine: after yesterday's extension Microsoft +8% today judging by Nasdaq futures it should be Meta to ignite the market with a stellar increase. Neither is it stop the acquisition of Activision by Microsoft imposed by the British authorities has curbed purchases. In reality, comments the Financial Times, the 69 billion dollar operation announced in January 22 is today much less strategic for the software giant, now concentrated more onartificial intelligenceand that in the primacy of cloud gaming.
But the world of gods suffers chips. Stm, which also announced better than estimated results, left a generous 7,5% on the ground. The international tensions cast a sinister light on the industry's growth prospects. Samsung and the giant Tsmc of Taiwan lose ground in Asia. Sales of the Dutch jewel Asml are also down, held back by pressure from Washington against sales in China.
In Piazza Affari Hera is the best stock at the end of the morning
In deep red too Tenaris -5,81% after releasing the accounts Wednesday evening. The company expects sales and margins to remain stable but to gradually decline over the rest of the year, after a 75% increase in sales in the first quarter of 2023. The group, active in the production of steel pipes for the oil and gas industries. The other oil companies are also weak: Eni and Saipem down by a good 2%.
At Piazza Affari Hera +2,2% is the best stockand at the end of the morning.
