MILAN AT THE TOP, BANKS SUPERSTAR. THE EURO HOLDS DOWN, LONG BTPs DOWN
The economy resumes, Piazza Affari returns to lead the sprint of the European Stock Exchanges. The Ftse Mib index closed the day with an increase of 1,20% to 23.333 at the levels of April 2010 alongside Madrid +1,24% and ahead of Frankfurt +0,98% and Paris +0,79% . Slight decrease, outside the euro area, for London -0,07%. Zurich is worse -0,79%.
In March, the euro zone composite PMI came in at 54,1 from 53,3 the previous month, momentum exceeding economists' expectations thanks to strong acceleration in Germany. The Athens Stock Exchange also rose +3,7% for the third consecutive day, following the outcome of the meeting between Chancellor Angela Merkel and the Prime Minister of Athens, Alexis Tsipras.
The BTPs are heavy, discounting last week's rally: the 1,32-year bond yields 2% (+108 basis points), spread at 15. The 8-year bond loses one point. Meanwhile, Spain issues a new 13-year indexed bond. The launch of an 16-year Btp Italia between XNUMX and XNUMX April was announced.
The dollar reversed course in the afternoon, rising again after falling to the lows of the last 20 days at 1,1 during the morning. The euro-dollar cross is 1,091, from 1,094 at yesterday's close. Brent oil trades at 55,2 dollars a barrel (-1,4%). Eni earn 0,2% Saipem -0,4% Tenaris -0,6%. Fly again Saras + 4,2%.
The banks are very lively: Understanding gains 3,7%, on the highest since 2008, Unicredit +1,5%. leap of MontePaschi +5,4%. Highlights too Mediobanca +2,8% and Pop.Milan +2%. Well too Bank Ifis +2,5%. Positive assurances: Generali + 1,3% UnipolSai + 1,5% Cattolica Insurance + 0,5%.
In industry it settles down Pirelli at 15,46 euros (-0,2%), in any case above the price of the takeover bid to be launched by ChemChina. But the possibility of a raise was denied. Industrial stocks are recovering Fiat Chrysler +1,8% and Cnh Industrial +2,5%. Among the luxury stocks, it was a good day for Moncler + 2%. Mediaset +3,3% on the day of accounts.
