The Milan Stock Exchange closes fractionally higher and the spread falls: tensions on Italy ease, while Di Maio and Salvini try to reassure the country by looking at a “rational and reasonable” government, which does not aim to force the deficit/GDP ratio and is not against Europe. However, the president of the ECB, Mario Draghi from Florence warns: 'Structural reforms at national level remain a priority'.
Piazza Affari gains 0,52%, returning to 24.159 points. A series of quarterly better than expected, also on the banking front, push up the main price list: Ubi +1,9%; Bper +1,95%. Outside the Ftse Mib, Monte dei Paschi flies, +17,65%, (3,2 euros per share) after the return to profit in the first quarter of the year.
The best blue chip of the session today is Prysmian as well, +3,12%, which in recent days has revealed its accounts with increasing revenues. Well Cnh +1,99% and Saipem +2,41%. The biggest declines of the session are for Azimut, -2,95%. Down Buzzi -1,95%; Pirelli -0,71%; Brembo -0,41%; Camparis -0,24%. In the Star segment, Falck Renewables performed solidly, +9,28%, after an increase in revenues for the first quarter to 92,1 million euros (+18,9%) against a 21% increase in ebitda at 77,5 million.
On the secondary side, purchases on Italian paper are back, in an auction day in which the various markets have witnessed the return of a certain appetite for risk. 1,89-year yield falls to XNUMX% and the spread with the Bund falls to 132.30 basis points, -3,92%.
The other European squares moved little. Frankfurt -0,17% and Paris -0,07% closed with modest decreases; cautious but positive London +0,31% and Madrid +0,26%.
Wall Street's trend also seems marked by prudence. At the moment the Dow and S&P 500 are in fractional growth, while the Nasdaq has slipped into the red. However, the indices could still have a week up more than 2%, the first positive after two in a row declines for the Dow Jones Industrial Average and the S&P 500. For the latter, it could be best week in two months thanks to the driving force of energy stocks, conditioned by the decision, announced last Tuesday by the American president, of the US withdrawal from the Iranian nuclear deal
Today, waiting for that Donald Trump give a speech on the price of drugs, the headlines for health and the surrounding area are in tune. The tenant of the White House he also met the heads of ten car manufacturers during the day, including FCA (+1,3% in Milan; +0,56% in New York) to discuss energy efficiency standards and lawsuits in California and other major states.
Oil is slightly negative, but still flying high. Brent $77,33 a barrel. The gold was slightly moved, 35,56 euros per gram. Euro still slightly recovering against the dollar at 1,193. In his speech at Palazzo Vecchio, during the State of the Union, Draghi underlines: "Three-quarters of Eurozone citizens are now in favor of the single currency" and "they expect the euro to deliver the promised stability and prosperity", therefore "it is our duty, as authorities, to reciprocate their trust". And he concludes: "We need a further budget tool to maintain convergence (between countries, ed.) during major shocks, without having to aggravate the tasks of monetary policy".
