Up, down and then up again. European stock exchanges attempt to rebound after the crash on the eve but in the last session of the week what they manage to achieve is just a roller coaster ride. After an upward opening, the lists returned negative, weighed down by the war in Ukraine and by the new "hawkish" face of the ECB. In the middle of the day, a new attempt to raise one's head comes after the words of the Russian president, Vladimir Putin, who spoke of "positive" changes in the talks with Ukraine. Piazza Affari, the worst yesterday, records one of the best performances in Europe, also pushed upwards by exploits of Leonardo and Tim.
Putin speaks of "Positive signals" and the Stock Exchanges take off
While in Versailles the twenty-seven EU leaders try to find an agreement on a common defence, but are divided on war Eurobonds, a positive signal arrives from Moscow from Vladimir Putin. According to reports from the Russian agency Tass, during an interview with Belarusian leader Lukashenko, Putin allegedly said: "There is some progress in the Russian-Ukrainian talks, which take place practically every day".
These few words were enough to restore hope to the stock exchanges. On the financial markets the scepter of best stock exchange in Europe goes to Frankfurt, which travels up by 2,8%. Paris (+2,2%) and Madrid (+2,5%) are also in positive territory, while outside the Union London gains 1,8% in the aftermath of the new sanctions imposed on 7 Russian oligarchs, including the patron of Chelsea, Roman Abramovich.
Meanwhile, worrying news continues to arrive from Ukraine, with the Russian army bombing the city of Dnipro overnight and starting to hit some cities in the West. In the morning, Ukrainian President Volodymyr Zelensky confirmed his willingness to speak directly with Vladimir Putin, but "will not compromise" during "these negotiations". Russia has requested the convening of the UN Security Council.
In this context, we must also remember the news that arrived yesterday from the Eurotower, with the ECB making a surprise announcement the early conclusion of purchases net of Quantitative Easing, but keeping away a possible rate hike.
Leonardo and Tim push Piazza Affari upwards
After the crash recorded in Thursday's session (Ftse Mib -4,2%) Piazza Affari tries to raise its head and at 12.30 it shoots forward (+2,8% to 23.527 points) driven by the rallies of Leonardo (+16,3%) and Telecom Italy.
The share of the company led by Leonardo Profumo, already the protagonist of a +28% since the beginning of the Russian-Ukrainian conflict, has exceeded the highs reached by the first lockdown, reaching 9,208 euros per share. The purchases are driven by the accounts for 2021, closed with earnings up 142%, but above all the guidance for 2022 which contains a positive opinion on cash flows estimated at around 500 million (operating cash flow), revenues between 14,5 and 15 billion and ebitda between 1,18 and 1,22 billion.
On the shields is also Tim (+7,37%) while awaiting Sunday's board of directors which should finally have its say on the expression of interest presented by the Kkr fund in November. We also await insights into the evaluations underway by the MEF which could open up to an agreement with the CDP on the alliance between Tim and Open Fiber for the single network.
Vanno the titles of the Agnelli galaxy galloped: Iveco (+8,18%), Cnh (+5,82%), Exor (+4,43%) and Ferrari (+1,79%). Stellantis is more timid (+0,4%).
Outside the Ftse Mib the race of Fincantieri (+8,33%), SanLorenzo (+7,96%) and Brunello Cucinelli (+7,42%) should be noted.
The worst performances today in Milan
At the bottom of the list is Saipem (-1,6%) followed by the two major Italian banks that continue to pay dearly for the war and the uncertainties of the political-economic scenario: Intesa Sanpaolo (-1,4%), Unicredit (-1,5%).
Utilities are also down: A2a (-0,78%), Enel (-1,1%), Hera (-0,3%).
Gas prices and the spread are down
On the secondary the spread cools down, with the spread between the ten-year BTP and the Bund standing at 161 points (-1,5%).
Among the raw materials gas prices are falling, which in Amsterdam fell by 5% to 119,85 euros per megawatt hour. Salt instead
However, oil continues to rise. In London, the May Brent contract increases by 2,7% to 112.33 dollars a barrel, while in the USA, the April delivery of WTI stands at 107.73 dollars a barrel (+1,61%).
The euro/dollar exchange rate is stable around 1,10.
