The European Stock Exchanges respect theswing effect: a session in the red is followed by a rebound which, punctually, today involves all the lists of the Old Continent, with some yielding in France, however in positive territory, despite the negative signals coming from the US futures.
Piazza Affari gains around 0,3% around 24 points thanks to the push from oil companies: Eni and Tenaris are running around 2,5%, in the wake of the increase in oil prices. However, these are turbulent times for Big Oil: yesterday Friends of the Earth activists caused the suspension of the Shell assembly (three arrests in the hall) to protest against the slowness in the energy transition. The scene was repeated this morning in Paris at the TotalEnergies meeting, which began with the stock rising sharply.
No surprises since German GDP for the first quarter +0,2%. The markets are awaiting interventions by central bankers starting with Christine Lagarde and the chief economist of the ECB Philip Lane. Fabio Panetta has already spoken declaring himself in favor of a prudent normalization of monetary policy. In line with the trend of the T bonds, the yields of bonds in euro decreased. The spread slips below 200 points, the BTP trades at 2,91%.
Also noteworthy is the Bitcoin rebound over the $30 threshold. In the meantime, the fashion world has provided significant support to cryptocurrencies: after Gucci, Balenciaga has also reported the acceptance of payments in Bitcoin and Ethereum, a decisive sign of the fashion world's support for the entire sector, from the metaverse to NFTs on the eve of a historic agreement with the Uffizi for the tokenization of some masterpieces.
In great evidence in Piazza Affari Unipol +1.92%. Moody's raised UnipolSai's Insurance Financial Strength Rating to Baa2 from Baa3, one notch above the Italy rating. The Long-Term Issuer Rating assigned to Unipol Gruppo SpA moved to Ba1 from Ba2. Stable outlook. The rating upgrade is justified by the better credit profile and the greater resilience to stress scenarios, in particular linked to Italian government bonds.
Little move Generali -0,17%: the company asked Consob for authorization to purchase other Cattolica shares after the increase of the stake to 91,3% through the RABB on 6,834% of the share capital at 6,75 euro. The next step, having obtained Consob authorization, will be to purchase additional securities for a period of 15 days on the market, again at the price of 6,75 euros.
Continue between banks the advance of Bper and Banco Bpm, both +1,6%.
Mfe securities in both categories fell sharply. The former Mediaset withdraws after the results of the first quarter which showed a drop in net profit to 2,7 million euro compared to 52,5 million in the same period of 2021. Equita defined the group's accounts below expectations due to the increase in costs operational.
