Government bond yields rise today and stock markets stagnate, albeit remaining at maximum levels: European stock markets close mixed and Wall Street travels in contrast, after a weak start following new signs of a rise in inflation and sales on the T -bonds. At the moment, however, the Dow Jones and the S&P500 mark new records.
Business Square it lost 0,6% and closed at 24.429 basis points, weighed down by Saipem (-3,02%) And Telecom (-2,56%). Stay in the spotlight Atlantia (+0,61%), with the entry of the Spanish group Acs, interested in taking over 88% of Aspi with a valuation of between 9 and 10 billion euros.
The banks stop in no particular order and the rooms go up spreads. The yield differential between 10-year BTPs and Bunds with the same duration widens to 103 basis points (+3,18%) and the rate of the Italian bond grows to +0,73%, despite the honeymoon between the market and the Treasury, which yesterday filled up its two issues, one with seven years and one with fifty years, placed for a total of 12 billion, against a demand of 130 billion and almost equally distributed over the two maturities.
In the opaque panorama of Milan shines at least the star of Chiara Ferragni who, with her allure, illuminates Tod’s +14%. After the announcement of the blogger's entry into the board of directors of Diego Della Valle's fashion group, the stock has indeed begun to run and the company's capitalization has risen by approximately 100 million. A "social" effect that was also seen after the licensing agreements signed by Ferragni with Aeffe and Monnalisa.
In the rest of Europe it is losing ground London -0,34%, on a day of grave mourning for the nation due to the death of Prince Philip, husband of Queen Elizabeth.
It's making little progress Frankfurt +0,25%, despite the sudden, surprise drop in German industrial production in February: -1,6% against an expected increase of 1,5%. Year on year the result is -6,4%.
They are flat Paris e Amsterdam.
The black jersey goes to Madrid, -0,85%, with the government having revised its growth forecasts for the current year downwards, from 7,2% to 6,5%, due to a first quarter held back by the pandemic.
Covid continues to claim victims and vaccines are also slow in the rest of the EU, which lags behind the USA and Great Britain. Meanwhile, the EMA is examining new, possible problems connected to the whey AstraZeneca (+0,6% in London) and also scrutinized the possible side effects of Johnson & Johnson (-1,5% in New York).
Wall Street, after the records of the eve, proceeds mixed. The Nasdaq is down slightly, the slight rise in yields on 1-year government bonds weighs on big tech, following indications on producer price inflation (PPI) in March, which rose by 0,4%, against expectations for a +XNUMX%.
Inflation picked up again in China as well, in March for the first time since the beginning of the year as producer prices recorded the biggest increase in nearly three years, according to official statistics.
On the currency market theeuro-dollar it is little moved, with the exchange rate in the 1,189 area.
THEgold loses ground: the June 2021 future loses 0,8%, 1744 dollars an ounce.
Il PetroleumBrent oil is flat at around $63,20 a barrel.
In Piazza Affari, the worst blue chip of the day is an oil stock: Saipem, penalized by a Bank of America report which judges the stock to be "underperform" with a target price of 0,9 euro in the context of a broader study on the oil services, which according to the US bank will reach its lowest point in the first quarter of 2021. Yesterday, however, the stock had closed up by 1,8% thanks to the promotion of Mediobanca analysts.
Among the banks Unicredit continues to lose ground (-1,2%), after yesterday's drop, with Mediobanca Securities confirming its 'underperform' following a meeting with the company in view of the quarter's results.
Record a fractional loss also Understanding, -0,42%, on the day of the approval of the Ubi 2020 financial statements. Over the weekend, the IT integration of the popular company into the banking giant will also be completed. HSBC, in a report dedicated to the group, reaffirms the Buy rating on Intesa and raises the price target to 2,70 euros from 2,50, an increase of 17,4%.
Bucking Bper +0,59% and Mediobanca + 0,52%.
Bad Telecom. Press rumors report that CDP could decide its position on the single network in about ten days. “The scenario still remains uncertain, but a clarification on the CDP strategy and the government's position should arrive in the coming weeks”, writes Equita in the daily.
At the top of the list: Buzzi +1,44%; nexi +1,22%; Amplifon + 1,19%.
