Piazza Affari confirms itself as the queen of Europe, +0,61%, 20.492 points, on an initially timid day for the continental markets and with Wall Street mixed in the middle of the session. Positive Frankfurt +0,38%; Paris +0,49%; Madrid +0,41%. London breeds on its own and closes negative at -0,37%.
Brexit and the uncertainty about Donald Trump's policies suggest caution, but, as Radiocor writes, it must also be said that the first quarter of the year, especially for American lists, remains to be framed. For the future we need the crystal ball. On the first front, the EU has declared its willingness to negotiate a free trade treaty before signing the final agreement on Brexit, but reiterated that in the transitional period Great Britain will have to accept European rules, including contributions to the budget and the legal supervision. On the other front, the skirmishes over the threatened tariffs continue. "Any trade dispute between the US and Europe - says the Italian minister of economic development Claudio Calenda - is dangerous, not only for our economies but also for the stability of the governance of globalization". Especially now that things are going a little better: according to Prometeia, Italy will grow more than expected both this year and next, even if "significant risk factors" remain. A good signal also comes from Cdp which has returned to profit (1,1 billion net in 2016 against a loss of 900 million in 2015), despite the write-downs of the investment in the Atlante fund, of the real estate assets and the increase in reserves credit coverage.
On the macro front, inflation in Europe is now lower than expected in March. An estimate that confirms the forecasts of the ECB and the expansive policy of the central bank. Starting tomorrow, however, Eurotower will reduce the pace of purchases in the context of Quantitative Easing from 80 to 60 billion euros per month. In this scenario, the spread between Italian and German ten-year bonds closed at 182.20 points, +1,11%, same yield as yesterday, 2,15%.
The euro-dollar ratio moved little, in the 1,069 area. Brent slightly down, -0,19%, after the rally of recent days, 53,03 dollars a barrel. Gold at 1246,25 dollars an ounce, +0,25%.
On the Ftse Mib, the best stocks are still today Buzzi +3,09%, in the wake of 2016 results and Campari +3,03%, after the Goldman Sachs upgrade. Almost all financial tonics. Purchases reward Banca Generali, +2,64%, Banco Bpm +2,13%, Azimut +1,81%, Intesa +0,79%, Unicredit +1,19%. Mediobanca -0,47% and Bper -0,21% go against the trend. The utilities are in excellent shape: Italgas +1,28%, A2a, +0,64% (which will present the new 2017-2021 strategic plan on Monday), Enel +1,05%, Snam +1,4%, Terna +1,26 .1,13%. Well Ynap +XNUMX%.
Weak oil companies, especially Saipem -1,25%. Profit taking on Leonardo -1,34%. Outside the basket, Piaggio recovers some losses: +0,75%.
Lastly, Valsola (-1,01%) should be noted, which today finalized an agreement with Naturalia Ingredients (Maccaferri group) for the purchase of the company branch relating to liquid sweetening products under the Diete.Tic brand, for a value of 8,8 XNUMX million euros in addition to the net working capital serving the branch. The transaction does not envisage the assignment of financial receivables or payables.
