The changes seem modest, but in reality some indices update their records in today's session. The lion's share goes to Wall Street, which started off in fourth place on new highs with quarterly results from the big banks and better-than-expected macroeconomic data confirming a robust recovery that is looming. Therefore, it is the markets that have a positive influence the quarterly reports of Citigroup, BlackRock and Bank of America and the sharp jump in the retail sales figure. In Europe, the Stoxx 600 updates its third earnings session and London +0,67%, Frankfurt +0,36%, Paris +0,4%, Amsterdam +0,18% closed in progress, driven by mining stocks and actions related to travel and leisure.
Instead, Madrid -0,13% and Milan -0,19% remain at stake. The Milanese market seems stuck waiting for the vaccination campaign to take off, while the Draghi government is preparing to ask parliament for 40 billion of the new budget gap with the Def, plus another 30 billion (spread over five years) to be kept as a reserve for the measures that will not find space in the Recovery Plan. In total, the account amounts to 496,8 billion: almost two and a half times the money from the Recovery Fund. Bankitalia also records a new record of public debt, which rose to 2643 billion in February, an increase of 36,9 billion, mainly due to the increase in liquid assets of the Treasury, which rose by 27,8 billion to 102,9.
However, the secondary sector did not suffer: the spread fell back to 101 (-2,53%) basis points and the 0,71-year BTP rate slipped to +2,84%. In Piazza Affari the highest part of the price list is occupied by Amplifon +2,15%, Inwit +1,24%, Diasorin +0,98%, Campari +XNUMX%.
In green Ferrari, +0,95%, on the day of the shareholders' meeting that approved the 2020 financial statements (consolidated net profit of 609 million and a dividend of 0,867 euros per share. The shareholders also re-elected the directors and in particular John Elkann remains director delegate, even if the number one of the Agnelli house said that the company is making progress in identifying a new CEO. The Maranello house has announced that it will put the first all-electric model on the market in 2025.
Pure Stellantis (-0,05%) presses the accelerator of theelectrification, which will affect almost all vehicles in 2025. On the occasion of the shareholders' meeting, the CEO Carlos Tavares also confirmed the goal of tripling the sales of electrified cars this year as indicated by the president Elkann, in the letter to Exor's shareholders (-0,11%). The spotlights remained on the banks during the session, in particular on the Unicredit assembly (-1,14%), which approved the new board with CEO Andrea Orcel and president Pier Carlo Padoan. Green light with 54,1% of the capital also for remuneration policies, after the controversies of recent weeks.
Creval sells 0,73% (12,25 euros per share), after Credit Agricole raised the price of the takeover bid to gain control of the Lombard bank by putting 12,20 euros on the plate, plus 30 cents per share in the case of more than 90% acceptance of the offer. Well Bper +0,58%. Oil stocks are negative, in a flat session for black gold. In particular Tenaris loses 3,65%, after the gains of the day before; Eni -1,18%. They lose more than one percentage point Nexi -1,45%; Cnh -1,66%; Finecobank -1,35%.
On the foreign exchange market, the euro is losing ground slightly against the dollar. The Stars and Stripes currency is supported by a pink-brushed macro framework: retail sales in March rose by 9,8% (+6,1% expected); claims for unemployment benefits in the last week decreased by 193 thousand units to 576.000, against expectations for 710.000 (it is the best figure since the beginning of the pandemic); the Empire State manufacturing index in April, rose to 26,3 points, above estimates; the Philadelphia Fed manufacturing index up 50,2 points. T-Bonds are also doing well, with rising prices and declining yields. The 5-year rate drops by almost 1,55%, to XNUMX%. Bitcoin floats on very high floors, $62,578, after yesterday's surge in the wake of Coinbase's debut (+2,03%) on Wall Street.
On the foreign exchange market, the Russian ruble falls against the greenback, after the new sanctions established by Washington against Moscow which also affect Russian sovereign debt. Among raw materials, metal futures are in great shape: gold gains almost 2% and trades at around 1770 dollars an ounce. Copper, silver and palladium are also pushing the accelerator. Oil is catching up after the losses of the morning. Brent is down very slightly and trades at around 66,50 dollars a barrel.
