The voltage drops in Business Square. The index reports a rise of 0,4% just below 23.200 points in line with Madrid. The variations on the other markets are more modest. Frankfurt and Paris oscillate around parity. London falls by 0,1%.
It is also loose the tension on Italian government bonds after a very difficult day yesterday with the yield on the Italian 2014-year bond returning to XNUMX levels following the alarm raised by Fitch on the government contract. The spread between Btp and Bund this morning it narrowed below 180 basis points and is now trading at 174,6 basis points. The yield on the ten-year BTP also showed a clear improvement, falling to 2,320%, down from 2,403% at yesterday's final.
The 2-year BTP rate is still positive but down, which in the late morning was 0,13% after rising yesterday to 0,21%, the highest since December 2016. The Italy-Spain spread was also slightly down, trading at 86 basis points from 90 at yesterday's close, a new high since February 2012.
The 5-year CDS on Italian debt jumped in the morning to 142 basis points, the highest since mid-October last year.
On the foreign exchange front, theeuro it returned beyond the threshold of 1,18: it changed hands at 1,1806 dollars. The next few days will represent a new test for the single currency with the release of the flash estimates of the PMIs for May.
Istat confirmed the growth estimate of GDP Italian in 2018 at +1,4%.
Brent futures prices continue to rise moderately, supported by fears regarding a decline in Venezuelan production and a decline in Iranian exports. Highlights of energy in Milan: Eni + 0,2% Saipem + 2,6% Tenaris + 0,2%.
However, European equities remain close to the highest levels since February thanks to the push from the automotive sector: Volkswagen, BMW and Daimler are among the strongest to push the index, with progress between 1 and 1,6% after a Bloomberg report according to which China intends to cut tariffs on car imports to 15% from 25%. The news provide fresh oxygen to the upside of Fiat Chrysler +1,6% even today more toned than average. The other stocks in the sector are in turmoil: Ferrari + 1% Brembo + 2,3%.
Also good Leonardo + 1,09 %
The banks recover: Where's Banca + 1,43% Bper + 1,07% Unicredit+ 1% Bpm bank + 0,34%.
He still suffers though Monte Paschi Bank -3,64%: the institute has started the sale of a half-billion-euro package of operating properties. Carige unchanged. Today the Board is discussing the rationalization of shareholdings and could decide to sell 20,6% of Autostrade dei Fiori.
In asset management it bounces back Azimuth + 1,5%. FinecoBank+ 2,8%.
Sale Enel +0,35%. The Brazilian electricity company Neoenergia has had the go-ahead from the main shareholders to submit new offers to acquire the controlling stake in Eletropaulo Metropolitana.
In the rest of the list:
- Fincantieri +0,7%. Today the Defense Committee of the Australian Parliament begins examining the offers relating to the supply of 9 frigates.
Salini Impregilo -0,5%, it was admitted to the advanced stage of a tender in Australia, with jobs worth AUD 3,5 billion at stake.
Coima Res Siiq -0,1%, buys the Unicredit Pavillon auditorium in Milan Porta Nuova for a figure that varies between 45 and 50 million euros.
