The financial week is approaching a slightly positive closing, thanks to the decrease in tension on the front of the Syrian crisis. The markets are also favored by the rebound of the dollar (traded at 1,2327 against the euro) and by the rise in the US yield curve reflecting a decline in risk aversion. Milano it advances by 0,2% just below 23.400 points, against Paris +0,4%. Better the rise of Frankfurt around 0,7% percentage. Madrid +0,46%. Flat the Stock Exchange London. The London Stock Exchange, which controls Borsa Italiana, has chosen Xavier Rolet's successor. He is David Schwimmer today at Goldman Sachs who will take office on August 1st.
Lo spread Btp/Bund is stable at 129 basis points.
Il Petroleum it advances to around 72,3 dollars. Slows Eni -0,2%. This morning Kepler Cheuvreux raised the target price to 17 euros from 16,50 euros, Buy confirmed. RBC adjusted the target to 16,50 euros from 16 euros. Judgment Sector Perform. Heavy loss for Tenaris -2,69%. The US Commerce Department announced tonight that it had imposed a 75% tariff on Korean steel pipe maker Nexteel, which also slightly hits other Korean producers. The sanctions would seem less severe than expected, very heavy duties were expected on the entire Korean steel industry.
The automotive sector is in the limelight on the day of the Agnelli group meetings. Among the best stocks of Piazza Affari there is Cnh Industrial + 1,86 % supported by the choice of Volkswagen to start the procedure for the placement of the heavy trucks and trucks division on the Stock Exchange. The decision could make a spin-off of Iveco, the heavy commercial vehicle brand, more likely.
Fiat Chrysler -0,1%. The assembly will be held at 12.00 in Amsterdam.
Down in the finance sector Azimuth -2,23%. In March, net inflows were quite disappointing, only 35 million euro, ten times less than the previous month's result.
Unicredit +0,3%. The Board appointed yesterday by the shareholders' meeting and in office for the next three years meets today for the first time to confirm Fabrizio Saccomanni's nomination as chairman and choose the vice-chairman. Jean Pierre Mustier, confirmed CEO, said that the commitment of him and the entire management team is long-term and goes well beyond next year, when the current Transform 2019 strategic plan will end.
In the rest of the list:
- Prysmian +2,33%. Yesterday, during the assembly, the CEO Valerio Battista affirmed that 2018 will close with a moderately positive result. The shareholders' meeting approved the capital increase for a maximum of 500 million euros, subject to the acquisition of General Cable. The operation must be completed by 31 July 2019.
- Tim -0.58%. According to Repubblica, the US Elliott fund would have the support of 24% of Tim's capital, 9% of its own, 5% of CDP, 4,9% of Blackrock, plus a pool of Italian investors who would have about 5% of the capital. Vivendi is under 25%. OpenFiber's board of directors meets today.
