Seat with a minus sign on the main lists weighed down by the US first quarter GDP data which turned out to be lower than analysts' expectations. In fact, American growth in the first three months of the year was 2,5% against the 3,2% expected by the consensus. Wal Street opens so cautious and the European squares consolidate the declines of the startup. Milan loses 0,51%, Paris -0,79%, Frankfurt -0,23%, London -0,25%. The Btp-bund spread closes on the levels of the opening at 290 basis points after the hawks of the Bundesbank have returned to the attack of the moves in support of peripheral countries implemented by the ECB. In fact, the German central bank criticized the anti-spread "shield" in an opinion prepared for the German Constitutional Court: the Buba believes that the rise in spreads "cannot be interpreted as a factor that disturbs the transmission mechanisms of monetary policy ”.
For now, helped by the possible positive outcome in the formation of the Government in these hours, the Italian Treasury has sold all the eight billion euro of six-monthly BOTs put up for auction today against a demand of over 11 billion, recording a sharp drop in the interest rate 0,503%, the all-time low, from 0,831% a month ago. In the background there is also the possible opening of the European authorities to policies that put growth at the center and ease austerity. The confirmation of the new wind blowing in Brussels also comes from the decision of the EU Commission to give its go-ahead to the request of the Madrid government to postpone the budget consolidation process to 2016 (deficit/GDP below 3%) "taking into account the difficult economic situation".
The euro-dollar exchange rate stands at 1,3024 (+0,10%), WTI oil drops by 0,64% to 93,04 dollars a barrel while gold rises to 1.477 dollars an ounce (+1,03% ). The yen strengthens again against the dollar after the confirmation of the Bank of Japan that it is determined to continue with the stimulus policy.
On Wall Street, the consumer confidence index (University of Michigan) rose to 76,4 in April from 72,3 the previous month. At the close of Europe, the Dow Jones rose 0,5% while the S&P500 fell 0,21% and the Nasdaq 0,39%. Down Amazon despite the quarterly higher than expected. On the other hand, profit fell by 37% and the scenario is slowing down for the months to come.
In Piazza Affari, the banks fought back: Banco Popolare -3,66%, Ubi Banca -1,85% after the new top management declared they had no intention of turning into a joint-stock company. Bpm -0,75% on the eve of the meeting of tomorrow's shareholders. Unicredit +0,36%, Intesa unchanged, Mediobanca +1,25% and Mediolanum +0,41%.
Fiat -2,25% (but almost +15% in the week) also fell among the worst performers of the Ftse Mib after the Delaware court judge informally expressed his support for Veba's position on the value of Chrysler shares. A2A –2,34% pays for Goldman Sachs' rating cut to sell.
Highlights on the Ftse Mib Saipem +2,64%: Morgan Stanley has promoted the judgment to "overweight" from "equalweight" and has raised the target price from 25 euros to 30 euros. Ansaldo Sts +1,03%, Telecom Italia +0,65%.
