Rebounds Piazza Affari while Matteo Renzi visits Piazza Affari. In Milan, the FtseMib index rose by 1,03%% to 23.283 with widespread gains in all sectors, and in particular among oil and luxury stocks. The Paris Stock Exchange gains 1.02%%, Frankfurt does even better + 1,42%%. Madrid +0,89%. The London Stock Exchange is closed today for public holidays.
Several factors contribute to recovery after a difficult week:1) the PMI index of the industry better than expected both in the euro area and in Italy. The Italian index rose to 53,8 from 53,3 in the previous month, expectations indicated it at 53,4. This is the best result for four years; 2) the positive atmosphere of the talks between the EU Commission and Greece for the unblocking of the agreement before the Eurogroup meeting on 11 May.
On the macro front the dollar is strengthening against the euro at 1,112, from 1,119 at the close on Thursday evening.
Oil is moderately up with Brent at 66,8 dollars a barrel (+0,6%) and Wti at 59,4 dollars (+0,4%).
The data on factory orders for March is expected in the US this afternoon, which economists expect to grow by 2%.
The rise in Bund rates continues, up more than 0,40%, on levels prior to the launch of quantitative easing. The Italian 1,53-year bond rises to 112%, on the highest level since the end of February. The spread between Italian and German ten-year bonds is stable at around XNUMX basis points.
In Piazza Affari it glitters Ferragamo +4%. The stock reacts after 12 consecutive sessions of decline. The other luxury companies are also doing well: Moncler gains 2,8%. Luxottica +2,2%. Tonight, with the markets closed, the eyewear leader will present the accounts for the quarter: an increase in profits (+30%) and revenues (+20%) is expected.
Eni up +1,4% along with other oil-related stocks. Saipem +0,9%.Tenaris +4,3%: after the positive figures for the quarter which show a strong improvement in the financial position.
Fiat Chrysler also did well +1,2% on the wave of Chrysler's good results on the USA market. Prysmian +1,1%, Cnh Industrial -2,1%, StM -1,6% and Finmeccanica -1,1% fall.
Telecom Italia was also positive up 1,1%. Enel has canceled the initial losses and is in parity. A2A rises by 1,6%. Finally, the banks: Intesa advances by 1,5%, Unicredit +0,6%, Banco Popolare gains 0,9%.
Among the insurance Generals +0,6%, Catholic +1,8%.
