The main European stocks close higher today, looking more to the good quarterly results than to the problems related to the war in Ukraine, with the European Union trying to balance the accounts of a possible embargo on Russian oil. Furthermore, the hope is beginning to emerge among investors that inflation is approaching its peak and thus the yields on government bonds also fell slightly overseas. In particular the XNUMX-year Treasuries shows a declining rate of around +2,87% after approaching +3% yesterday.
On the currency market the euro revives, which recovers more than half a percentage point against the dollar and trades in the 1,185 area. The yen recovered slightly, after updating its twenty-year low against the greenback.
Among the raw materials it appears volatile oil which currently trades just above parity: Brent +0,62%, 107,92 dollars a barrel; Wti +0,82%, $102,89. Gold rose slightly: 1954,18 dollars an ounce (+0,23%).
Netflix collapse on Wall Street
On the other hand, a freezing shower arrived yesterday evening from the quarterly reports for Wall Street, today contrasted at the start. The rip is from Netflix, which currently plummets by around 36%, after revealing a loss of subscribers in the quarter, the first since 2011. A thud that drags down even rivals such as Walt Disney, Roku, Warner Brothers Discovery and pushes the Nasdaq down (-0,8%). Interesting indications on growth will arrive later from the US market, with the Federal Reserve announcing its "Beige Bookon economic conditions from late February to early April. "We expect the pace of activity to ease slightly," UniCredit analysts say in a note.
In Europe Danone and Asml stand out
In Europe, Piazza Affari is once again approaching the 25 mark and closes with a up 1,03% to 24.878 basis points, with the banks and Stm making marked progress. Paris is even more tonic, +1,38%, driven by the ally of Danone, +5,47%, thanks to growth in the quarter beyond expectations, but also following indiscretions from Letter A, a specialized newsletter, on alleged advances by Lactalis to acquire more of the group's business.
In line with Paris is Amsterdam, +1,26%, where it stands out Asml +5,31%, which is dragging the entire chip sector with it in the light of a better-than-expected quarterly and positive demand forecasts. Jp Morgan analysts confirm their positive recommendation on the stock with an unchanged price target of 780 euros.
Brilliant Frankfurt +1,47%; good Madrid +0,89% and London +0,38%. Shy Zurich, +0,35% on which it weighs the decline of Credit Suisse -1,48%, bucking the trend in a well bought European banking sector in the session. The Swiss group expects a loss in the first quarter due to an increase in provisions for legal expenses, the slowdown in commercial activity and the impact of the war in Ukraine.
Piazza Affari toned with banks; Autogrill deflates
In Piazza Affari the session was particularly good for the banks. The queen of the sector is Banco Bpm +4,46%, promoted by Mediobanca analysts who are betting on a possible next takeover by Unicredit (+1,55%) or Crédit Agricole, which already controls over 9%. Consistent progress was recorded by Bper +3,53%, Mediobanca, +2,64%, Intesa +2,41%.
On the wheel Pirelli appreciates +3,28%, after car sales data in March, which plunged on a year-on-year basis following the war in Ukraine, but climbed above estimates on a monthly basis in the UK, Germany and Italy, unlike France.
Stm is in dust in Paris as in Milan, where it recorded an increase of 3,24% in the wake of the results of its Dutch rival.
Between the utilities Hera stands out +3,22%. Campari good +3,11%; Prismian +2,95%; Post +2,63%.
I'm in red Diasorin -1,53%; Amplifon -1,52%; Telecom -1,21%.
Out of the main basket Autogrill deflates, -4,78% after yesterday's gains following rumors about a possible marriage with the The operation should allow the Benettons to remain number one shareholder of the new group. And speaking of the Ponzano Veneto group, a shareholder of Generali (+0,08%) with a 4% stake, rumors cited by Ugo Bertone say that it will support the list presented by Caltagirone at the meeting.
Neglected Fincantieri, -0,57%, with Cdp which decided the list of candidates for the renewal of the board, indicating Claudio Graziano as president e for the role of CEO Pierroberto Folgiero, current CEO of Maire Tecnimont (+3,53%). Folgiero will take over from Giuseppe Bono who is leaving the leadership of Fincantieri after 20 years.
Spreads up slightly, yields down
i go down government bond yields of the euro area. The 10-year BTP closed at +2,51% (from +2,55% yesterday) and the Bund of the same duration at +0,86% (from +0,91%) for a slightly higher spread to 165 points basis (+0,75%).
