The US stock exchanges are in the red, while the European ones are holding up, including Milan which drops in the final but closes gaining 0,23% on 24.450 basis points. This divergence on the financial markets was created by the most awaited data of the day: the US consumer price index, which in April literally shot up by 4,2% on an annual basis, well above the 2,6% of March and the 3,6% expected by analysts. On a monthly basis, the figure is +0,8%, compared to +0,2% expected. Consumer prices almost rhymes with inflation, and therefore the specter of actual inflation returns to hover, which however is calculated differently and it is said that these signs of an increase cannot turn out to be only temporary shocks. The fact is that across the ocean a little panic has spread, with Wall Street opens negative, above all the Nasdaq which at 17.30 Italian time lost 1,6%, but also the Dow Jones which in any case lost its 0,8%.
However, the European price lists have not been influenced. At Piazza Affari among the best stocks are oil companies: on shields Eni and Tenaris, respectively over 2% and 3%, which undoubtedly benefit from the significant increase in oil prices. Brent approaches 70 dollars a barrel, Wti exceeds 66 dollars. Fight the banks instead. The best is by far Unicredit, which earns about 3% after the presentation of the team of the new CEO Andrea Orcell. In particular, the reorganization created a new executive committee (Group Executive Committee, GEC), made up of 15 members, replacing the current Executive Management Committee (EMC), which had 27 members. In red instead Banca Mediolanum, which is the worst title of the Ftse Mib with -2,43%, and also Banca Generali, Mediobanca and Bper. Poste Italiane also closed with a minus sign (-1,25%), on the day of the quarterly report which highlights a profit that grew by 46% in the first quarter, thanks also to insurance services. “Proud of our role in the vaccination campaign,” CEO Matteo Del Fante said.
Flurry of quarterly reports also in the energy-related sector: they show an increase in profits and also in Terna, Snam, Hera and Acea investments. However, the shares of the respective companies on the Stock Exchange are all weak, with the exception of that of the Bologna multi-utility which manages to close in just positive territory. The Btp Bund spread it rises slightly but closes below 115 basis points. The euro depreciates against the dollar: today it is trading at 1.20769. Stable gold around 1.824 dollars an ounce, but these are turbulent days on raw material. Some of them, especially copper and iron but not only, are reaching their all-time highs in this period, and the financial community is wondering: is a super cycle about to open with skyrocketing prices or is it a speculative bubble? Meanwhile, within the overall rally in agricultural commodities, it even hit a new record today palm oil.
