Yesterday's enthusiasm has faded and sales are back on the price lists. The Ftse Mib closed down by 1,56%, Paris -0,66%, Frankfurt -0,27%, London -0,36%.
Ukraine doesn't stop worrying about price lists. In the city of Mariupol there were 21 dead in clashes between pro-Russian insurgents and troops loyal to Kiev. The round table on national unity announced by the pro-Western Ukrainian government should begin next Wednesday to try to put an end to the current crisis in the country. Macro data doesn't help. In Italy, the industrial production figure for March fell by 0,5% on February and fell again on an annual basis to -0,4%. In Germany, in March, German exports surprisingly fell by 1,8% on a monthly basis (+1,9% annually), in particular due to weak demand from the Eurozone (+0,1%) and from the other shore of the Atlantic. Finally, annual inflation in the euro area according to OECD data fell by 0,2 percentage points to 0,5% in March, the lowest level since November 2009.
Draghi's words yesterday, which suggest a more than probable expansive move in June, made themselves felt again on the euro which lost 0,51% to 1,3770 against the dollar and on the spread which fell on the lowest since April 2011 at 144 basis points and the Italian 2,90-year yield fell to 250%. At the end, the spread then closed on the rise at XNUMX basis points. Meanwhile, S&P raised Portugal's outlook to stable from negative but did not change its rating, which remained at Bb, as expected by the markets.
On Wall Street, the Dow Jones is traveling below parity and the Nasdaq is down 0,32%. The spotlight is once again on Apple for the possible acquisition of Bets, a company that produces headphones and earphones but also offers a music streaming service. On the macro data front, US wholesale inventories increased in March '1,1% beating the expectations of analysts who expected growth of 0,5%. WTI oil rose by 0,50% to 100,76 dollars a barrel. Piazza Affari was a black day for banks, especially the popular ones, which are starting their quarterly reporting season in these days. Today was the turn of Bpm, -5%, which recorded a net profit of 64,3 million (+12,3%) in the first quarter. Monday appointment with Unicredit and Mps. In the meantime, Bper lost 7%, Banco Popolare 5,76%, Mediobanca 5,39%.
Prysmian falls again -5,35% after yesterday's profit warning. The company has denied interest in the French Nexans, but the list of brokers that cut the judgment and the target is getting longer. JP Morgan downgraded its rating to Neutral from Overweight, target price at 18 euros. Bank of America has cut its target to 18,5 euros from 20 euros. Mediobanca reduced its rating to Neutral from Outperform. In contrast among the best of the Ftse Mib Snam +1,59%, Autogrill +1,52%, Fiat +1,21%, Atlantia +0,49%. Dmail slows down its closing run and rises by 5% after the signing of the debt agreement with the banks and the imminent takeover bid on Seat Pagine Gialle which jumps by 11,76%.
