Markets at a reduced pace in view of the Easter break: today both Wall Street and the main European markets are closed.
After closed exchanges, however, the news arrived of theIranian nuclear framework agreement: the market reaction was immediate, despite the approaching closure. The Crude Marked an Immediate 4% Drop, confirming the fall in prices which had manifested itself since the initial stages: even before the agreement, Wti oil recorded a drop of 2,8%, worse for Brent at 54,5 (-4,55%). Russia has announced that its production has reached 10,71 million barrels per day, close to an all-time high. However, the Geneva negotiations with Iran are not finished. The final agreement is scheduled for June.
Today, despite the market holiday, the data on the US labor market, the number most awaited by the Fer to guide monetary policy. Yesterday the weekly data on the use of subsidies turned out to be lower than expected, just as the trade balance deficit was lower than expected. The US Stock Exchange moved little, waiting for the statistics on employment: Dow Jones +0,37%, S&P +0,35, Nasdaq +0,14%.
However, the news arriving from the USA did not impress the European stock exchanges, which are now already on vacation: in the main four European markets, volumes were equal to one fifth of the average for the last month.
In Piazza Affari, the Ftse Mib index closed with a drop of 0,22% at 23.308 points. The trend in Frankfurt is similar - 0,28%. On the other hand, Paris +0,24%, Madrid +0,35% and, outside the euro area, London +0,55% are on the positive side.
SAIPEM CELEBRATES CAO. SARAS AND D'AMICO VOLANO
The ferment in the sector, under geopolitical pressures, has caused the decline of Eni -1% need Tenaris -0,69%.
Instead, the price of Saipem rebounds +2,4%, on the wave of the jv in Central Africa created with Dagote and even more by the news of the return of Stefano Cao's six-legged dog, to whom CEO Claudio Descalzi has entrusted the difficult task of relaunching the oil equipment company . Among other things, the reduction in the price of crude oil causes an increase in refining margins. It is the driver of the continuous increases of Saras accelerated strongly yesterday to + 9% at the highest level since June 2011: the stock market price has doubled since January 1,25st. Meanwhile, Nomura has raised the target price from 2 to XNUMX euros. The drop in oil prices, combined with the increase in the traffic of refined products, continues to favor instead D'Amico yesterday +11%. Equita Sim, in the light of the excellent performance of the business, has raised the private target from 0,70 to 0,85 euro.
YOOX BRAKES, GTECH WELCOMES MILAN ON THE RISE
Profit taking on Yoox after the rush of the last few days. Stock falls 2,45% but the consensus of the brokers for the integration operation with Net à Porter shows no signs of waning. Yesterday it was the turn of Mediobanca Securities which reaffirmed their overweight by increasing the target price from 27 to 31,8 euros. Weak the rest of the luxury: Ferragamo -2,34%, Tod's -1,12%.
In great evidence Gtech +3,5% on the farewell day in Piazza Affari. From 7 April the company, now merged with the American IGT, will make its debut on the New York list.
CAR SALES START AGAIN IN ITALY: FIAT DOES WELL, SPUNTO BY LANDI RENZO
The increase in sales of Fiat in Italy and the Chrylser holding in the USA have allowed fca to register a new rise: +1,06%. Pirelli unchanged at 15,50 euros: yesterday the stock entered Crédit Suisse's European Top Pick.
The increase in registrations also caused Landi Renzo to jump +5% on the wave of the opinion of Banca Akros (target price 1,25 rating neutral).
BANKS, CITIGROUP AWARDS UBI
According to Citigroup the popular reform is set to trigger deep consolidation in the banking sector with prospects for price growth. For now, the US bank has rewarded Ubi +2,81%. They also advance Bper +0,28% e Unicredit +0,16%. In negative ground instead Banca Intesa -0,62% e bpm -0,53% Down also the Banco Popolare -0,27%.
Also noteworthy is the excellent performance of Campari +1,5%. Weak Telecom Italia -0,5% and Mediaset -0,2%.
