After yesterday's landslide the pendulum of the markets points upwards, recovering part of the lost ground, thanks to the first, timid opening tests and the expectation of the Ecofin which will discuss today by videoconference, with the participation of the vice president of the ECB, Luis de Guindos, the response of the block to the coronavirus emergency after the agreement reached amidst many difficulties last week.
Milan +1,24% it goes back to one step away from 17 points, in the middle of the day. The spread cools: 222 points against 247 yesterday, the highest since March 19 with a yield on the Italian ten-year bond at 1,83%. Rises in the order of 0,6-0,8% for the other lists in the Eurozone. Still in pale red London -0,15%.
Brent oil tries to rebound after two consecutive days of sharp declines, crude oil from the North Sea is trading at 28,5 dollars a barrel, +1,5%. The International Energy Agency has warned that the reduction agreed within the G20, -9,7 million barrels per day but only starting from May, may not be enough, much more is needed. Saipem +3%, withdrew the previously provided 2020 targets. Morgan Stanley raises the target price to 2,6 euros. Tenaris also advances +2,9%. Eni +0,4%.
In the spotlight of analysts luxury awaiting the accounts of Lvmh +0,65%. Equita Sim expects quarterly revenues of 11,2 billion euros, down 11% year on year. In Frankfurt Zalando rises by 6%.
In Piazza Affari Moncler rises by 1,8%. Little move Ferragamo -0,17%. Oviesse, unchanged, communicated that it had asked the owners of the properties where the shops are located for a suspension of rents for the closing period and a remodulation for the next few months.
Chip giant Taiwan Semiconductor's quarterly results boosted better than expectations, driven by demand for chips for supercomputers and 5G telephony. A takeover bid is reviewed. It was launched by the Investindustrial fund on 20% of the share capital of Guala Closures at six euros per share, with a 25% premium on yesterday's prices. Robust rebounds for most of the price list. Pirelli gains 3,4%. The banks were positive, starting with Intesa +1,6%. Banca Generali earns 3%. Banca Mediolanum +2,30%.
Nexi +2,6% cancels most of yesterday's losses. The company has released an update on Q2020 19 to educate the market on the impacts of COVID-2020. Financial guidance for 30 has been suspended. In general, January and February showed stronger than expected trends, while in March the decline was more than 45%. The decline from mid-March to early April was more than XNUMX%.
Always on Diasorin shields +3,5%, to a new all-time high of 156,4 euros. Since the beginning of the year, the share of the diagnostic company of Saluggia has grown by over 36% on the expectations that it can be chosen for serological tests on a national scale in the search for IgG antibodies of the Sars Cov-2 virus, and therefore in the identification of those who have developed an immune response to the virus because they are already infected.
Positive Enel +2%. HSBC reduces the target price to 7,6 euros. A2A +2,5%. Citigroup has reviewed its judgment on several utilities. Terna, Italgas and Snam are to be sold.
