DRAGONS: RATES MAY FALL AGAIN
HIGHLIGHTS AUTOGRILL AND SMALL CAPS
Mario Draghi he insists: the ECB is "ready to act" again on the interest rate front "if necessary" after the cut of a quarter of a point which brought rates to an all-time low of 0,50%. This was stated by the president of the ECB, Mario Draghi, during the Lectio magistralis at Luiss which awarded him an honorary degree in Political Science. But the message, which arrived in the trading rooms a few minutes after the closure of the European lists, did not change the course of a weak session, marked by the closure of the London market for holidays which greatly reduced market activity.
In Milan the FtseMib index fell by 0,35% at odds of 16862.
Paris down 0,15%, Madrid the Stock Exchange falls by 0,61%. Frankfurt loses 0,13%.
The American Stock Exchange also showed little movement. The Dow Jones falls 0,15%, the Nasdaq rises 0,25%. The S&P index +0,07% which closed the session on Friday on new all-time highs consolidates its leadership.
THEeuro is losing traction and fell to 1,305 against the dollar, from 1,311 at Friday night's close.
on the government bond market BTPs are losing ground slightly today, with the 3,90-year yield rising to 265% and the spread at 3 (+1,28 basis points). The two-year BTP is trading at a yield of 0,98%: last week it fell for a few hours to an all-time low of XNUMX%
in European stock exchanges the greatest drops concern utilities (Stoxx of the sector -1,1%) and construction companies (-0,4%). Italcementi loses 2,3%, Buzzi is down 1,57%.
In Milan, the rise of Autogrill stands out, rising by 3,36% after the board of directors approved the spin-off on Friday which will lead to the creation of a separate company (World Duty Free) for the management of commercial spaces in airports. Atlantia advances by 1,27%.
The good results of the first quarter are pushing Enel Green Power which increases by 2,15%. The parent company Enel remains weak -0,95%, A2A positive +0,95%.
Piaggio gains 3,4% after the quarterly results.
Contrasted landscape between le banks with Unicredit dropping 0,4% and Intesa dropping 0,72%. Conversely, MontePaschi rose by 1,53%.
Between the insurance Generali drops by 0,71%, Fondiaria Sai marks a timid +0,19%.
In managed savings Banca Generali shines, up 2,3%, Azimut -0,55% and Mediolanum down 0,1%.
Among the industrial stocks, Fiat – 0,86%, Finmeccanica gains 0,53%, StM +0,67%. Tenaris -1,16% and Prysmian -1,75% are down.
Of note, among the small caps, the strong rises of Camfin rises by 6,8% on the hypothesis of a takeover bid by a group of investors led by the Clessidra fund. Danieli also stands out +5,9% promoted by Mediobanca. And Fiera Milano + 7,2% after the directors hired by Enrico Letta himself.
