Piazza Affari reacts, after Monday's disappointments. There Milan Stock Exchange leads the price list rally of the Old Continent. The Ftse Mib index with a leap of 2% returns to exceed 18.000, ahead of Frankfurt and Paris, both up by one percentage point.
To favor the rebound contributes the positive solution of the negotiations on Greece: Athens 8-year yield breaches the 50% threshold for the first time in six months: -7,57 basis points to 10%. The effects on “peripheral” securities were positive: the 1,42-year BTP yields 5% with the spread contracting by XNUMX basis points.
Of note, after yesterday's fall (-3,8%), the cautious progress of oil. Brent trades at 43,8 dollars a barrel (+0,3%). Euro unchanged against the dollar at 1,138. Eni goes up by 1,5%, Tenaris +1%.
In Milan the quotations of Enel +3,65%, on the wave of the quarterly: the net profit has grown from 810 million to 939 million euros. At the end of March, net debt had fallen to 36,64 billion euro, compared to 37,55 billion at the start of the year. For the whole of 2016, Enel's management forecasts a recurring EBITDA of approximately 14,7 billion euros and a net profit of 3,1 billion. "The broadband plan will go ahead with or without Metroweb - said the CFO Alberto De Paoli - We think that the operation can speed up our plan, but if it doesn't go through, we will continue on our own".
Up too Telecom Italia +2,29% which yesterday evening presented its offer for the subsidiary of CDP and F2i.
The recovery of Piazza Affari coincided with the rebound of the banks on the day of the quarterly reports. Advance Unicredit +2,94%, a few hours from the board of directors on the accounts: the rally is favored by the encouraging notes of the Polish subsidiary Pekao. The forecasts of the experts indicate a net profit of 379 million euros, an estimate which compares with the 512 million recorded in the same period of the previous year.
After Monday's flood, the other banks that approved the quarterly report today contrasted: Banco Popolare loses another 2,60%, recover bpm + 1,28%.
Highlights too Bper +2,3%: the institute aims at the four good banks (Carife, Banca Marche, Carichieti and Banca Etruria) today entrusted to the care of the Resolution Fund.
Monte Paschi +3%, Understanding +2,9%.
Between the insurance, Generali increases by 2,3%, Cattolica +2,7%.
The sector is doing well too Automotive (+1,9%), thanks to positive data on car sales in China: Volkswagen up 3,6%, Peugeot +3,2%.
FiatChrysler gains 2,6%, the parent company Exor +3,4%, Cnh Industrial+1,1%.
Brembo rises by 2,6%: the first quarter closed with a net profit up by 32% to 60,4 million euro on a turnover up by 9,6% to 563 million.
M&A day. In evidence Mondadori +4,2% after the purchase of Banzai Media from the listed parent company – 1,24% for around 45 million. In positive territory too Astaldi + 1,3% following the sale to the Spanish company Abertis of the vehicle company which holds 44,85% of A4 Holding (Autostrada Serenissima). The equity investment held by Astaldi was valued at around 130 million euro.
The luxury sector also did well, supported by promotion of Crédit Suisse to Overweight from Underweight.
In Paris Lvmh gains 3,4%In Milan Ferragamo +2,7%, Yoox +2,8%, Luxottica +1,8%.
