A balanced start to the week for the European stock exchanges, thanks to the rising oil price after the joint pronouncement of Saudi Arabia and Russia in favor of extending the cuts in production and the disposal of stocks until March 2018. The Brent climbs 2,3% ($52 a barrel) after rising 3,5% last week. At Piazza Affari it goes up Eni +0,6%, Saipem +1,4%, Tenaris +2%. In Paris Total gains 0,8%, in Amsterdam Royal Dutch Shell +1,1%.
Around 13 pm, the Ftse Mib index is hovering around parity at 21.500 points ahead of Paris and Frankfurt both at -0,2%. Better Madrid +0,05 and London +0,14%.
Bond yields up slightly: the 10-year BTP yields 2,27%, up from 2,24% on Friday, the Bund 0,41%, up from 0,38% on Friday. Spread at 186 basis points (+2). The departure of the Btp Italia offer it was, according to the head of public debt management, Maria Cannata, "Quite comforting". “In the first hour and a half, orders for 470 million were collected, a threshold that was reached at noon in the previous October edition,” said Cannata. At 11:15, contracts for 650 million euros had been signed for the new security with a 6-year maturity. The Treasury executive confirmed that the Treasury will carry out a second issue of Btp Italia in the autumn, coinciding with the maxi-repayment of the Btp Italia issued in 2013 for over 22 billion and expiring on 12 November.
Inflation rises +1,9% on an annual basis in April, but also the public debt: 2.260,3 billion in March, an increase of 20,1 billion compared to the previous month.
It picks up speed Atlantia +2,93% after announcing officially the takeover bid on 100% of the Spanish company Abertis at 16,5 euros per share, for a total value of 16,3 billion euros. The price of the offer is in line with analysts' expectations. Together Atlantia and Abertis will create the first global group in the management of toll motorways.
Slow down in the late morning Mediaset -0,2% after the news that Fininvest has strengthened its grip on the media group, rising to 39,53% of the capital, equal to 41,09% of the voting rights, from 38,2% of the capital and 39,7% of the voting rights.
Mixed performance of banks: Unicredit drops by 0,94%, Mediobanca -0,11%, positive Intesa +0,35%, Banco Bpm +0,72%. Strongly highlighted Bper Bank 2.03%. Among the insurances, salt generals +1%, goes down Unipol -0,5%.
In the rest of the main basket:
* They slip Enel -0,2% e Telecom Italy -0,2%
* Featured among industrialists Stm +1,2% in a blurry landscape. Leonardo -0,5% on the eve of the meeting. Fiat Chrysler +0,3%.
In the rest of the list:
* Among the mid and small caps they stand out Falck Renewables +3,2%, Saes Getters +3%, Digital Bros +2,5%. Instead they go down Esprinet-7,6% and Fincantieri -3,8%.
