Eurozone stocks recover from the lows of the opening, but continue to move weakly after the tiring Brexit compromise. The Eurogroup has granted London a postponement to define an orderly exit from the EU, but, under pressure from Emmanuel Macron, only until 31 October. Dollar and pound do not move. Euro/Dollar 1,128; Euro/Pound 0,861.
Business Square (+0,16%) recovering to 21.672 from the initial 0,7% drop (up to a minimum of 21.477). Little moves too Madrid (-0,03%) And London (+0,07%). On the rise Paris (+0,8%), driven by the excellent quarterly performance of lvmh (+4,25%). Turnover grew by 16% in the first three months, with a peak of 20% for fashion: the guerrilla gilets jaunes didn't slow down the luxury flagship. They take advantage of it Moncler (+ 2,60%) and Salvatore Ferragamo (+2,53%). Frankfurt advanced by 0,4%.
Promoting the recovery of Milan was the favorable outcome of theauction of medium-long term securities.The Treasury offer, 7,75 billion in all, was sold out. In detail, 2,5 billion Btp were assigned on 15/07/2022 at 1,08% from 1,06% in mid-March; 3,75 billion securities maturing on 15/07/2026 at 2,05%, yield unchanged compared to the previous auction; finally, 1,5 billion Btp 01/03/2035 at 3,00%, from 3,41% in mid-January (first syndicated offer).
THEgold regains the threshold of 1.300 dollars an ounce thanks to geopolitical tensions (Libya) and low cost of money.
Petroleum slightly down, Brent and WTI remain close to their five-and-a-half-month highs. Saipem -2%. Jefferies cut Underperform from Hold. Target 4,40 euros.
Between banks Unicredit recovered at the end of the morning (+0,15%) after an initial skid. The group is finished in the crosshairs of the EU antitrust together with eight other European institutions for violating the rules in the trading of government bonds between 2007 and 2012. The fine, in theory, can reach up to 10% of the group's revenues, i.e. 1,9 billion euros. In red Bpm Bank (-1,37%) And Bper (-0,77%).
Leap forward by Mps Bank (+5%). CEO Morelli spoke of possible integration with another institute.
Mediobanca (-0,6%) acquires 66% of the French investment bank Messier Maris & Associés, paying it entirely in Mediobanca shares.
Limit the damage Juventus (-1% from the initial -3%): the draw in Amsterdam does not compromise the passage of the round, so a great performance will be needed in the second leg.
Discount announced for Prysmian (+8,16%) after estimating the negative impact of Westernlink cable problems.
Down too Tim (-0,85%): the spread between ordinary and savings is at an all-time low, under 4 cents.
(Last updated at 14:23pm Thursday, April 11, 2019)
