Business Square +0,21%, it surpassed the 24 barrier again during the morning. At 13, the Ftse Mib index scored 24.034 points. On the rise Frankfurt +0,21%, despite signs of a slowdown in the economy emerging from the German confidence index, the Ifo, which fell to 102,1 points from 103,3. Paris and Madrid in pale red, London +0,2% up.
Two days before the ECB meeting, theeuro fell to a two-month low at 1,2185 against the dollar, weighed down by concerns that the increase in yields on US T-bonds could push the single currency to break down the range in which it has moved for most of this year, thus prompting hedge funds to liquidate some of their long positions. The single currency then recovered to 1,22, still 3 points lower than in mid-February.
Little moved bond market. Bunds 0,62%, BTPs 1,78%. At this morning's auction of the Ctz bonds were placed for a total amount of 2 billion euros, up to the fork. The gross yield remains negative and has been set at -0,275%, compared to the previous -0,225%.
Brent oil broke through $75 for the first time since December 2014 to its highest since December 2014 pending sanctions in Tehran. Oil tankers braking in Piazza Affari: Eni + 0,4% Tenaris + 0,4%
Saipem -1% announced its quarterly data this morning. Revenues at 1,91 billion euros, slightly below the consensus (1,96 billion). Adjusted operating profit €100 million, 10% above the average analyst estimate. Net result much worse than expected, at 11 million euros, due to high financial charges. Debt at 1,2 billion euros, 150 million euros less than expected. The company confirms its 2018 goals: revenues of 10 billion euros with an Ebitda margin above 10%.
Emotions on the face of Telecom -0,2% never end. This morning during the assembly the news of the still by Vincent Bolloré, no longer at the top of Vivendi (but vice president of Mediobanca) for a few days. The managing director Amos Genish underlined in front of the shareholders gathered in the assembly that he intends to collaborate with everyone. “I'll try – he said – he said to work with anyone in the next few years”, he declared, adding that “we'll see you next year”. In reality, the appointment is much closer: the new board of Telecom Italia will have to be nominated on May 4th.
Difficult sitting for Stm –0,8% in the wake of the warning from Ams, one of the suppliers of Apple Lossless Audio CODEC (ALAC), which has launched a warning on 2018 revenues: they will be lower than expected as there is a drop in demand, probably due to the not brilliant performance of the iPhone X. Apple is worth about a tenth of Stm's revenues.
Among the industrial weak Fiat Chrysler -0,3%, salt Cnh + 0,5%.
Slightly down Enel -0,2% which is preparing a raise on Eletropaulo: the managing director Francesco Starace told the Spanish newspaper El Expansion that the company intends to maintain its intentions.
Among the utilities, Italgas + 1,92%.
Equita analysts expect fairly brilliant quarterly results for the banking system with an average profit growth of 10% year on year to 2 billion euro thanks to the drop in the cost of risk.
The drop in this morning stands out B for Bank -1,58% with volumes accelerating. The ratio between gross non-performing loans and loans could fall below 14% this year, beyond the target that the bank has set itself. The market fears a possible capital increase in this regard.
Unipol +0,57%, could support a capital increase of the bank, of which it is a shareholder, if it were accompanied by a strong cleaning of the NPLs, as explained by the number one of the insurance group Carlo Cimbri.
In luxury it stands out Salvatore Ferragamo +2,53% with volumes higher than the average of the last month. Geox + 4%.
Out of the main list Ima +3,59% celebrates the acquisition of Tmc, a producer of paper handkerchiefs, announced yesterday after the markets were closed.
In the rest of the list:
- Fiera Milanorises by +3%, awaiting the return to the Star index.
- Amplifon+1,3%, new historical record.
- Catholic –0,6%. The shareholder Cari Verona wants a higher dividend, the same would also be open to a renewal of the statute, today of a cooperative nature.
- EI Towers-0,5%, evaluate the possibility of buying assets in Portugal, said the managing director Guido Barbieri.
