The Italian Stock Exchange rose this morning to its highest level since October 2009. The main index, after having reached a maximum of 24.214, is now traveling just below 24.200 with an increase of around 0,8%. The other European Stock Exchanges are also accelerating: Frankfurt acts as a hare and earns 1%, ahead of Madrid (+ 0,8%), London (+ 0,5%) and Paris (+ 0,2%).
Providing the boost is the technology sector (+1,1% the sector index) supported by the rally of Apple Lossless Audio CODEC (ALAC), after the accounts. In Milan, the leading stock is Stm, one of the suppliers of the Apple, which records an increase of 4,4%.
Early elections have been averted at the moment with the intervention of President Sergio Mattarella, the Italian secondary recovers. The spread with the Bund drops to 118 points, that with the Spanish Bonos stands at 49 basis points after a maximum reached on 30 April at 52 basis points.
The rate of March youth unemployment, equal to 31,7%, is the lowest since December 2011 when it was equal to 31,2 percent. Another positive figure that can be read in the ISTAT tables concerns the employment rate, equal to 58,3% in March: it is the highest since October 2008, when it stood at 58,5%. The negative note concerns the activity of the Italian manufacturing sector which slowed down for the third consecutive month in April, reaching its lowest level for over a year.
Brent oil is up slightly to 73,2 dollars a barrel, from -2,7% yesterday. Inventories data is released today. Eni +0,7%. One of its subsidiaries has won an exploration tender in Indonesia. Saipem + 0,6% Tenaris + 2,5%.
Well in tune with Piazza Affari Fiat Chrysler +2,5% which yesterday announced a 5% growth in US car sales in April in the face of a contracting market. Well too Brembo (+2,9%). The European auto sector rose by 1,6%.
The banks are calm, with the sector index up by 0,2%, substantially in line with the European basket. Bpm bank +1,3%. Almost flat Understanding e Unicredit.
New all-time high for Moncler (+2%). It also advances Ferragamo (+ 2%).
Great effervescence in the construction sector. Salini Impregilo continues the race that began on Monday with the announcement of the appointment of Goldman Sachs as adviser for the evaluation of strategic alternatives for the Plants & Paving division of Lane. The stock gains another 6,2%.
Toned too Astaldi, which scores an increase of 6,5%.
