Cautious optimism dominates the market scene, three days after the first electoral round in France: Piazza Affari closes up by 0,13% 19.848 points, with Ynap rallying and the banks tonic, but with oil companies still in the deep red. Paris stands out with an increase of 1,48%. In the window the other continental markets: Frankfurt stops at +0,09%, Madrid +0,02%, London +0,06%.
Positive opening for Wall Street, with the three main lists which, until mid-session, are all fractionally higher. American Express stands out among the stocks, with profits down in the quarter, but higher than expected. On the other hand, Philip Morris is down, weighed down by forecasts of volumes down by 3-4% for the whole of 2017. Weak Ebay, which suffers from competition from Amazon.
Flat oil, after yesterday's crash. Brent +0,04%, 52,95 dollars a barrel. Gold was stable at 1281,05 dollars an ounce (-0,03%). In the wake of a renewed pro-European optimism, with the latest polls for the French presidential elections, which see the centrist Emmanuel Macron as the favourite, the single currency strengthens against the dollar (+0,55%), 1,077. The same moderate sentiment spills over to French government bonds, which are recovering ground on 8,53-year Bunds (spread -61.10%, 10, at a two-week low). In a session with thin volumes, 1,61-year BTPs recovered 201.90% compared to the German paper, the spread moved to 2,27, the yield to XNUMX%.
Among the Italian blue chips we find Ynap in pole position +5,88%. Positive fashion: Ferragamo +1,41%; Moncler +0,83%. The banks are tonic, with UBI up 3,081%; Bench Bpm +2,8%; Mediobanca +2,15%. The purchases also reward Unicredit today, +1,83%, on the day of the meeting for the approval of the 2016 financial statements, which closed with a loss of 11,4 billion for the parent company. On this occasion, the new map of shareholders was announced, following the 13 billion euro capital increase, successfully closed in February. 72% belong to foreign funds, 62% are institutional investors, 10% sovereign funds. Among these Aabar of Abu Dhabi with about 5%. Only 2% belong to Italian institutional investors. On the governance front, Luca Cordero di Montezemolo resigned from the vice presidency.
In asset management, on the other hand, Fineco dropped 1,38%. Good for Fiat +1,22%; Prismian +1,28%; Recorded +1,47%. Mediaset is not affected by the accounts presented yesterday after the markets closed and stops up 1,3%.
Sales mainly affect oil: Saipem -2,22%; Tenaris -1,78%. Eni is saved, -0,07%. On the other hand, the Ftse Italia oil & gas index has lost more than 6% since the beginning of the year, underperforming the Ftse Mib by 9,2 percent. A weakness due to tensions on the oil market due to the continuous increase in shale production in the USA, which risks nullifying the OPEC cuts. Attention is now focused on extending the restrictions to the second half of 2017.
The utilities were weak, especially Enel -1,35% and A2a -1,34%. Atlantia slips, losing 2,67%. According to rumors, the company could launch a mixed offer (public purchase and exchange offer) of 16 euros per share on its Spanish competitor Abertis, partly in Atlantia shares and partly in cash, with a subsequent merger. The coveted prey earns 0,35% on the Madrid stock exchange.
Out of the main list, Fincantieri is picking up +6,88%. Thud of Juventus, -5,25% with the shareholders to collect after the exuberance of the previous sessions.
