BAGS LATEST NEWS. 13.30 pm. BAGS WITH PLUS SIGN WAITING FOR US INFLATION. FLY PARIS WAITING FOR LVMH ACCOUNTS. ENEL DRAGS UTILITIES UP. SALES ON LEONARDO
Slow moving markets waiting for thenow x: at 14.30 the agencies communicated the data of theUS inflation which should provide information on the decisions of the Federal Reserve next month. Confirming that operators are betting on a softer attitude from the Fed is the behavior of the utilities, the sector most sensitive to interest rate trends. It shines Enel +2,11% after divestment of Peruvian assets.
Stock exchanges latest news: a new high in Paris. Bustier closes Pegasus
At 12: the index FTSE Mib it rose by 187,00 points, +0,68%, to 27.711,70 points but rose more than 1,5% after the data on US inflation. It also advances to a new high Paris Stock Exchange: the strength of the titles of the luxuryimpervious to recession, more than compensates for the problems of Emmanuel Macron's pension reform protest. The markets await, with the Stock Exchange closed, the accounts for the quarter of lvmh, the flagship of the industry. Most analysts believe the numbers will be good. Jefferies has already reiterated the 'Buy' recommendation on the shares of the French giant, raising the 12-month price target to 960 euros. The business house is betting on the growth of the group despite the shares having risen a lot in recent weeks (+21% since the beginning of the year).
Between individual titles, fine Volvo which advances by 7,76% after registering useful records in the first quarter thanks to the increase in revenues and margins. Rallying helps Iveco +2% among the best titles in Milan.
Deutsche Bank out of Russia
Deutsche Bank also rose, gaining 1,52% after the news that the bank is closing the remaining ones IT business in Russia, ending a two-decade reliance on Russian cyber-skills, according to a story reported by the Financial Times. Bad instead Zurich which loses 5,39% after four sessions of increases.
Piazza Affari latest news: healthy banks
The Italian banks are also healthy: at the top Bper ed Unicredit +2,3%, the former CEO of the bank, Jean Claude Mustier closed Pegasus, the most important European SPAC launched together with Tikehau: the company has not found "prey" at an affordable price.
Of note are the sales on Leonardo -0,31% victim of fibrillation on nominated.
The secondary market is under pressure
The Italian secondary remains fragile, which like its counterpart the Bund is feeling the effects of the climate of greater propensity for risk from which stock exchange lists seem to be benefiting, at least at the moment.
Both the yield of the ten-year BTP to 4,164% is the spread with respect to the German equivalent equal to 184 points. On the side of the primary, the mid-month auctions with the placement of 8,5 billion euro between 12-month Treasuries and the reopening of the Bond in August 2023, residual life four months.
Compared to the peaks for over ten years on which it traveled only last month, the weighted average rate of Annual bot it dropped to its lowest since mid-February. The placement of tomorrow's medium and long-term bonds - 9,5 billion between the new BTP and seven years - together with the reopening of the three-year bonds and two off-the-run bonds with maturities of 2037 and 2044 contributes in the meantime to pressure on the secondary Italian.
Crude oil prices are stable awaiting US inflation data, which will likely influence the Federal Reserve's monetary policy regarding interest rate hikes.
In New York: inflation down
Il Brent gains 0,34%, to 85,90 dollars a barrel, while the West Texas Intermediate it rose by 0,29%, to 81,77 dollars a barrel. The index of US consumer prices in March it decreased to +5% against the previous 6%. The monthly increase is equal to +0,1% against +0,4% in the month of February. March's core inflation fell by 0,4% month-on-month and 5,6% year-on-year, according to a Reuters poll of economists. At 16.30 US crude inventories data.
Updated at 14:40 pm on April 12, 2023
