Pause for Business Square in the aftermath of the ECB sprint. The ftse Mib moved volatile in the morning and fluctuated around parity in the middle of the session. He continues the downward run of the spread which briefly touches 160 basis points and then rises slightly to 162 and the 3,23-year treasury rate of around XNUMX%. The Madrid-Berlin gap narrows to 158 basis points with the Bonos rate at 3,20%.
The other main European stock exchanges are more tonic, moving in positive territory: Paris +0,25%, London +0,40%, Frankfurt +0,35%. Data on US jobs are now awaited: at 14.30 pm the number of new jobs and the unemployment rate for March will be released.
Returning to Europe, in terms of macro data, German industrial orders did better than expected, growing in February by 0,6% per month, above market expectations even if the January figure was instead revised significantly downwards to +0,1% from 1,2% previously announced.
In the Eurozone, the PMI retail index is 18, which measures retail sales in the Eurozone, rose slightly in March to 49,2 points from 48,5 in February. The recovery was driven by Germany and Italy, where the index rose to a 37-month high. In other words, at the end of the first quarter, the contraction of retail sales in Italy slowed. Overall, however, the figure for the Eurozone remains below the threshold of 50 which indicates a situation of contraction in activity.
In Piazza Affari they shine Pirelli +2,92% thanks to a note from Deutsche Bank which raised the target price to 12 euros advising to keep the stock, Mediolanum +1,64%, Fiat +1,22%. The Lingotto is driven by the recommendation of UBS which raised the abuyda neutral rating and brought the price target to 10 euros, from the previous 7,5 euros. Meanwhile in Great Britain, cars registered a 17,7% jump in March, the twenty-fifth consecutive increase.
Highlights too Mediaset which rises by 0,98% after the sale of 25% of Ei Towers, completed this morning with an accelerated placement managed by Mediobanca. Atlantia rises by 0,58%. The market is looking at the airport sector while awaiting the signing of the pre-agreement between the Ethiad airline of the United Arab Emirates and Alitalia which, according to financial rumors, could be concluded today.
Outside the Ftse Mib Italcementi it runs up 2,89% on the back of a positive report from Bofa Merrill Lynch.
Contrasted the banking sector: Ubi +1,11%, Mps +0,28%, Bpm +0,41%, while Banco Popolare -0,9%, Unicredit -0,15% and Intesa-0,31%, Bper -1,14 %.
At the bottom of the Ftse Mib, sales also affect some bank stocks Saipem -2,24%, Enel –0,68% and Wdf -0,67%.
