The European stock exchanges rebound thanks to the push of the banks. At the top of the rankings, as always when the credit sector advances, is Piazza Affari. The index Ftse Eb scores a rise of 1,2% around 19.800. The other price lists are more cautious: Paris e Frankfurt +0,2%, more toned Madrid +0,7%. Almost unchanged London after yesterday's heavy descent.
What makes the difference between Milan and the other squares are the banks, who benefit from Ubs report which raised the rating on the European credit sector to Neutral from Underweight, while simultaneously lowering the recommendation on US banks to Neutral from Overweight, betting on the expansive policy of the ECB which is opposed to the restrictive one announced by the Fed. US banks were downgraded to Neutral from Overweight on considerations that delaying Trump's policies will delay expected improvement in sector margins.
The Stoxx European index of banks gains 1,4%. In Piazza Affari flies Unicredit + 4,4% Understanding + 3,3% Ubi + 3,5% Bpm bank +3,3%. The other European banks are also on positive ground. Société Générale earns 2,5%, in Frankfurt Deutsche Bank +1,8%, in Madrid bbva + 1,6%.
The rest of the financial sector is also on positive ground: Generali + 1% Unipol + 1,9% Anima + 2% Mediolanum Bank + 1,4%.
The euro is confirmed at the levels where it rose yesterday against the dollar (1,071), mostly due to the weakness of the US currency. Flat start for the Italian secondary with the Italy-Germany spread at 209 basis points and a 2,26-year rate at XNUMX% as in the end of yesterday's session.
According to Eurostat numbers, the index of consumer prices in the 19 euro countries it grew by 1,5% yoy, in line with the preliminary estimate, after +2,0% in February, the strongest figure in four years.
Petroleum little moved: Brent is traded at 55 dollars a barrel (+0,2%). Little movement Eni (+0,1%).
The automotive sector is also making progress in Europe (+1,3%). In March, the car market of the Old Continent recorded a growth in sales of 10,9% to 1,937 million vehicles.
Fiat Chrysler +2,50 to 9,24 euros. The group recorded 18,2% growth to 130.923 cars, with market share at 6,8%, up from 7,1% in the first quarter. The brand Fiat accelerates with a +17,1%, from +14,6% in the quarter. Jeep +8,5% from +2,4% in the quarter. With a market share of 0,5%, a new leap by Alfa Romeo with +45,7%, from +34,6% in the three months. in Frankfurt Volkswagen salt of 1,9%, bmw + 1,8%.
The ride also continues Juventus, +11% a few hours from return match with Barcelona.
In sharp decline Mediaset (-1,9%) And Telecom Italy (-1,03%), after yesterday evening AgCom gave Vivendi one year to reduce its presence in the two companies.
Atlantia down 1,2%: yesterday the Benetton holding confirmed ongoing talks with the Spanish Abertis, today down 2,1%. According to the press release, the two companies would like to explore common projects. According to persistent and consistent rumors, Atlantia is studying the acquisition of Abertis.
The industrialists are positive: Leonardo +1,6% and Cnh Industrial + 1,5%. stm +0,4%, shines Buzzi (+ 2,2%). Enel marks a cautious progress of 0,2%.
