"The Fed will raise rates, but will anticipate a break." Reuters thus summarizes the mood of the markets awaiting the decisions of the US central bank. That is, taking into consideration the umpteenth increase (this time only a quarter of a point) the operators predict that Jerome Powell, while noting that the fight against inflation is far from won, will announce a grip pause to relieve bank balance sheets, tried by the most rigid policy of the last 40 years. With an eye on the Fed, le latest stock market news reward the banks, driven by the results of the quarterly Unicredit and the news on Mediobanca.
Stock exchanges latest news: record quarterly Unicredit, news on Mediobanca
The forecast helps European lists, aided by a series of positive quarterly results, starting from Unicredit, once again the star of Piazza Affari, + 4,9% at 12 after having touched 6%. Andrea Orcel's bank closes the quarter with a profit of 2,1 billion euros. Analysts were expecting 1,3 billion. The bank has raised its forecasts for 2023 and increased the fraction of the profit to be allocated to the dividend.
The institution drags upwards other securities in the sector: Mps desk it advances by an abundant 3% ahead of Bper and Bpm. Up by 2%. In great shape Mediobanca, up 3,5% on the wave of interest from Caltagirone which doubled its share to almost 10%.
The quarterly, albeit flattering, by does not excite the market stellantis -1,85%. Revenues (47,2 billion +14%) were slightly higher than expected thanks to higher “other revenues” (Comau, Teksid, Mobility Service), while those from the motor vehicle were substantially in line with expectations both in terms of volumes that of ASP. However, like Renault, Stellantis has seen a sharp increase in inventories both at independent dealers and at its own warehouses. The guidance has been confirmed.
The quarterly Leonardo and Enel are arriving in the afternoon, Poste tomorrow
In the afternoon the parade of the Big continues. In the evening the accounts of Leonardo +1,45%. The first quarter is a "light" quarter for Leonardo because EBITA represents less than 10% of EBITA for the entire year and we do not expect any impact on the stock despite the EBITDA decline YoY vs. growth of 6% estimated on 2023.
Not least the wait for Enel +0,6%, this morning in positive territory at 6,1 euros in the first real test after the controversy over the choices after Starace.
Negative debut for Lottomatica in Piazza Affari, Campari doing well, Tim still down
Piazza Affari returns to touch 27 thousand thanks to the 1% rebound. Bucking the trend The aviation sector is losing ground due to Lufthansa, down 3,5% after reporting revenues below market expectations.
Milan today welcomes the richest freshman of 2023 among the European lists. It's about Lottomatica with 600 million euro raised during the placement phase and up to 690 million euro to be raised in the event of full exercise of the option. In reality, on the day of the return, the stock closed at 8,28 euros -8,9% compared to the offer price.
To report Campari +3%: Bofa raises the target price from 13 to 14,30 euros, Buy confirmed. Amplifon also flies +4,4%.
Weak Tim - 2,3% on the eve of the board dedicated to offers on the fixed network.
Stock Exchanges in Europe and on Wall Street
Stock Exchanges in the rest of Europe: Frankfurt Dax +0,5%. EuroStoxx +0,6%. The Cac40 of Paris rises by 0,5%. This list highlights the luxury and beverage companies.
While waiting for the central bank's moves, the 2,22-year Bund trades at 4,12%, the BTP XNUMX%.
On the day of Federal Reserve communications, the 3,39-year Treasury Note strengthens to 95% yield. The options market gives the XNUMX% a quarter-point increase in rates as likely.
Expectations of a slowdown have weighed down raw materials, starting from Petroleum: WTI of Texas, already down -5% yesterday, loses another 2% today and reaches medium-term lows at 70 dollars a barrel, the lowest since the end of March. European natural gas slips below €37 per mWh for the first time in 14 months.
Wall Street promises a positive start: Nasdaq futures + 0,1%.
The euro appreciates against the dollar, cross at 1,104.
Nasdaq futures + 0,1%.
