UNTIL THE GALLOP IN THE BUSINESS SQUARE: +1,85%
TRUST US AT 14 MONTH HIGH
S&P's stiff entry into Spain, already expelled from the Champions League, it does not create the feared failures. The European stock exchanges are traveling higher while the tension on the bond market eases with the yields of Portuguese XNUMX-year bonds back below 10%: it is the first time since last September. "The process of adjusting the public finances - said Minister Vitor Gaspar - is proceeding as expected".
Il successful outcome of the auction of Italian government bonds helps keep investor sentiment up. The Treasury has placed BTPs at various maturities for 5,94 billion euros against an announced maximum amount of 6,25 billion. The yield on 5-year BTPs rose to 4,86%, from 4,18% in the previous auction at the end of March. The 5,84-year yield rose to 5,24% from XNUMX% at the end of March.
On the bond BTP yields they are up slightly by +2 basis points to 5,65%. Sales also on Spanish Bonos, with the 4-year yield up 5,84 bps to XNUMX%.
In Milan, the FtseMib index closes on a high note with a gain of 1,85% at 14.778, Paris +1,14%, Frankfurt +0,76% Madrid, despite the downgrade, also marks +1,32%.
The Wall Street indices are also on the rise: Dow Jones +0,24%, S&P500 0,14%, Nasdaq +0,47%. The session is dominated by the Amazon show +12%, driven by the skyrocketing success of the Kindle e-reader. Not everything online, however, glitters. After Groupon's crash, it's now Zynga's turn - -7,7%.
Consumer confidence restarts: the indicator elaborated by the University of Michigan has risen to 76,4, above forecasts and at a 14-month high.
US economic growth in the first quarter was revised downwards from a provisional figure of 3% to a more modest 2,2% on which, moreover, the replenishment of stocks is worth 0,6%. Growth, therefore, is much more modest than the provisional 3% and even the 2,5% forecast by analysts. But it is still higher than what was claimed by Jan Hitzius of Goldman Sachs (who for months had been talking about an increase of 1 percent) and by other economists educated by the experience of a year ago when the "cut" was even more robust.
In Piazza Affari the banks recover. Unicredit rises by 3,42%, Intesa +1%, Ubi +2,06%. Pop. Milan leaps by 6,86%. Monte Paschi +7,54% celebrates the arrival of Alessandro Profumo.
The titles of the insurance pole are contrasted after the Antitrust stop: Unipol +0,5%. FondiariaSai -4,3%, Milano Assicurazioni +1,8%, Premafin -5,2%. Meanwhile, it has become known that the general manager of Sinergia Salvatore Rubino and the president of Imco Fausto Nunzi are under investigation by the Milan prosecutor's office for false accounting in the context of the investigation into the Ligresti group. Sator and Palladio, says Matteo Arpe on the sidelines of the Profilo meeting, continue to work on the offer presented for the rescue of Fonsai in view of the April 30 deadline.
Among the Fiat industrialists closed at +0,59% despite the relegation of S&P, Fiat Industrial rose by 3,97%, Pirelli +1,42%.
Positive Eni, up 2,1% after announcing first quarter results better than analysts' expectations. Saipem rises by 0,54%.
The best sector in Europe is the construction industry (Stoxx +2,3%) in the wake of possible EU project bonds: Buzzi +3,93%, Impregilo +2,4% and Astaldi +2,8% rise in Milan.
Pyrotechnic, spectacular, stuff from the past: this is the comment on Brunello Cucinelli's debut, up 52% on the first day of listing.
Still on the rise Piaggio which rises by 6,7%, driven by the start of the business in India. Yoox +4,6%.
