The unknown Ukraine weighs, but for now the Stock Exchanges have excellent arguments for absorbing geopolitical tensions. Yesterday on Wall Street was Apple's day +8,5% after the excellent sales results of the iPhone: China is proving to be a gold mine for Apple. There was no less fever for Facebook, which recorded spectacular growth in profits (+190%) and turnover (+72%) thanks to the boom of the social network on mobile. There was no lack of response from Microsoft, which compensated for the decline in PCs with a leap in Xbox and software. Meanwhile, the fever of M&A in pharma continues: Zimmer offers 13,35 billion for the purchase of Biomet.
In the midst of these fireworks, for now, the Alstom dossier takes a back seat: General Electric is ready to offer 19 billion for the French group. And GM's crash (earnings per share of 0,09 dollars against 0,58 a year ago), crippled by lawsuits for accidents involving faulty vehicles, does not make too much of an impression.
High volatility session for European markets. The threat from Vladimir Putin after the discounts in Eastern Ukraine weighs on the price lists. Meanwhile, today the S&P rating agency cut Russia's credit rating to BBB-, one step above the junk level. On the other hand, the agency confirmed the AA rating for France and the stable outlook.
The other side of the coin is Mario Draghi's demanding pro-quantitative easing statements and the good data on German confidence. At the end of the session Frankfurt -0,05% is almost unchanged. Good Paris +0,64% and Madrid +0,35%. London +0,42%.
Piazza Affari +0,66% is the best stock exchange. Tokyo opened slightly 0,24% lower this morning on fears over Ukrainian tensions. Asia is also down: the HAng Seng index drops 1,34%, Shanghai 0,37% and the Sensex moves close to parity at -0,09%. India is voting and yesterday there were ten deaths in some violent attacks carried out in three states of India during the third super-Thursday vote for the legislative elections which take place in ten stages and will end on May 16th.
Meanwhile, the state of grace of Italian debt securities continues: the 3,12-year yield is at 3,059% (Spain does better at 159%) for a spread of 4,5 bp. The Treasury placed 24 billion between 0,786-month Ctz (974,7% yield), 1,92 million Btpei (15% yield) and 525,2-year Btp for 2,09 million at 6%. It continues on Monday with 7-month BOTs (7 billion) while Tuesday will close with an offer of between 9 and 5 billion between Ctz and Btp at 10 and XNUMX years.
Brilliant day for banks starting with Banco Popolare +3,38% which celebrates the early closure of the auction of unexercised rights. The other Popolari are also in good shape: Bper +2,1%, Bpm +0,9%, Ubi +0,06%. The exception is Mps -0,2%.
In great evidence Saipem +4,03% after the quarterly in line with consensus and the strong growth of the order book. Eni also advances +0,9% behind the subsidiary despite new problems for the Kashagan field. Of note is the leap of CNH Industrial +2,5% on the wave of the good results of Caterpillar.
