The push coming from the US and Asia serves to support European markets in positive territory, despite the political stress accumulated in Italy and Spain, which weighed on the Sentix, the European index of investor confidence, which fell sharply at May. The Exchange of Milano, although slower than at the start, by mid-day it rose by around 0,4%, around 22.200, in line with Paris and in front of Frankfurt (+0,16%). It does much better Madrid (+1,3%) who appreciates the rapid resolution of the crisis.
Of note is the leap forward of Air France (+6,6%): Accor is in talks to acquire the stake held by the French state.
Confidence in peripheral bonds returns. The yield of ten-year BTP drops 12 basis points, to 2,52%, spread to 213. Last week, they broke the barrier by 3% and 300 basis points respectively.
The spread of Spain and Portugal also fell by 12 basis points.
It is appreciated the euro at 1,1720 against the dollar, after closing the week with a very slight rise, in the previous six it has lost ground against the dollar.
Little moved the Petroleum, on the levels at the beginning of the day at 76,7 dollars a barrel.
Recommended Saipem (+0,5%), which formalized the acquisition of a number of contracts in the Middle East from 1,3 billions of dollars. Eni + 0,3 % Tenaris -0,1%.
Utilities rebound on falling government bond yields: Italgas + 3% Enel +1,5% pending developments in the Brazilian takeover bid on Electropaulo, Snam +1%. Fly Ivy: +4,2%.
The revival of M&A in the financial sector holds the scene (+0,7% the sector index).
Unicredit, after a leap forward, moves back in the afternoon while Société Générale gains 1,6% after the Financial Times reported that the two banks are exploring the possibility of a merger, which investors hope could pave the way for further consolidation of the sector .
The British CYBG it earns 1,2% after raising its bid for the rival bank by 7%. Virgin money.
JP Morgan, this morning cuts the target price of the main Italian banks. Where's Banca at 4,20 euros from 5,30 euros, the share lost 2,9%. Banco BPM at 2,90 from 3,1 euros, the share is down 3,6%. Intesa Sanpaolo it is flat at 2,59 euros.
The decline continues Fiat Chrysler (-2,1%) in the wake of presentation of the industrial plan. Already on Friday it had left 4,5% on the ground.
Avanza Piquadro (+6,5%) after announcing the acquisition of Lancel International from Richemont.
Salt too Brunello Cucinelli (+2%), bringing the performance since the beginning of 31 to +2018%. At 38,30 euros, it marked the new historical record since
Propeller rises by over 4%: the company announced the sale to Whirlpool of India Limited of 33% of the share capital of the Indian subsidiary Elica PB India Private Ltd for 13,4 million euros. Elica will continue to exercise control over the joint venture.
Ovs – 3,3%. On Friday, the chairman of the board of statutory auditors Paola Camagni and the director Vincenzo Cariello resigned due to differences regarding the rules and principles of corporate governance.
Fullsix it lost 2,27% after Consob on Friday defined the conditions for the approval of the mandatory public tender offer promoted by Orizzonti Holding as "inexistent".
Updated 15:55pm Monday 4th June
