Utilities support Milan, despite the ballast of some bank stocks: the Ftse Mib closes at +0,31%, 21.552 points. The best stock of the day was A2a, +5,37%, after a quarterly performance far exceeding expectations.
In no particular order, the other European price lists, with oil rallies after data on US inventories. London stands out with a growth of 0,63% and the boom of Barrat, the main British builder. Flat Frankfurt +0,07% and Paris +0,05%. The week in the red continues in Madrid -0,13%.
Wall Street opens negative (even if the S&P 500 tries to recover mid-session) unnerved by Donald Trump's dismissal of FBI chief James Comey. A move that, it is argued, could create rifts in Congress and slow down the progress of economic reforms, especially the expected tax cuts.
Oil, on the other hand, takes off, thanks to the weekly drop in US inventories higher than forecasts. Brent 50,48 dollars a barrel, +3,59%; Wti $47,48, +3,49%. Session in partial recovery for the Italian bond. 0,98-year Bund spread drops by XNUMX%, 182.30 basis points, yield more or less stable at 2,26%. After this morning's appointment with the twelve-month Treasury, in which the Ministry of the Economy obtained the best conditions ever with a negative rate of 0,304%, tomorrow investors will have up to 7,25 billion euros available in new BTPs the three-, seven- and thirty-year benchmarks together with the reopening of an 'off-the-run' maturing in September 2044.
However, one cannot sit on one's laurels, as he warns Mario Draghi. "It is not up to the ECB" to make things easier for the weaker countries of the euro area when it comes to bearing the impact of the end of Qe - explains the central banker to the Dutch Parliament - these "had time to do reforms and sound public finances. In evaluating our position, we have only one objective which is to guarantee price stability”. The Eurozone economy "is clearly improving", however the growth in prices and above all in wages is still too weak, so stimuli are still needed to support medium-term inflation". The euro, he reiterates, is irrevocable. In this climate, the euro-dollar ratio at 1,086 has not moved much.
Returning to Piazza Affari. The utilities shine with A2a. Plus sign also for Italgas +0,32%; Terna +0,61%; Snam +1,74%; Enel +0,44%. Outside the perimeter of the blue chips, Hera stands out with growth of 1,67% after the excellent first quarter numbers.
Contrasted day for financials. Banca Mediolanum gains 3,23%, with Kepler Cheuvreux raising the rating to "buy" from "hold". Bper plunges by 5,66%, due to declining quarterly profits, also following the devaluation of the stake in the Atlante fund. Deep red for Unipol, -2,22%, after rumors of an increase in the shareholding in the Modena bank to around 10%, with the intention, perhaps, of finding a landing place for Unipol Banca. Profit taking on Banca Generali -1,2%. Banco Bpm -2,12%; positive Unicredit +1,19%.
Campari's race continues, +4,68%, in the wake of the balance sheet data and the fiscal effects of the Patent Box. Oils were positive, with Eni +0,54% after the accounts and Tenaris +1,56%; weak Saipem -0,27%. Purchases reward Mediaset +1,24%; Stm +1,58% and Recordati +1,39%. A session to forget for Prysniam -3,5%, which disappoints with the results for the quarter.
Il Sole 24 Ore slips off the main list -3,57%. The board of directors, the company announces, will propose to the shareholders, who will meet at the end of June, a capital increase of no less than 50 million euro after closing the first quarter with a negative shareholders' equity of 39,9 million, worsening from end of 2016 (it was -11,7 million) due to the loss of 28,2 million recorded in the first three months of the year.
