Markets in limbo awaiting data onUS inflation scheduled for 14,30 pm (Italian time). In the meantime, the data from the morning contributes to encouraging prudence. Here is the latest stock market news:
- La Italian industrial production in March it recorded a new and unexpected cyclical downturn, with a slight decrease also at the quarter level, data that fuel doubts about the effective recovery of the economy: the seasonally adjusted index marks a monthly decrease of 0,6% after - 0,2% in February, against a consensus of +0,3%
- i go down bank deposits, in March at a minimum compared to January 2021 with an outflow of 15 billion (out of 2.629). But the exodus does not favor the stock market, if anything, the collection of bonds (+8,9%) even before the launch of the new Treasury products.
This climate explains the decrease in Piazza Affari -0,40% around 12, in line with the trend of the other markets of the Old Continent, albeit conditioned by the company results: to be noted in Paris, the +5,7% of Credit Agricole and the -5% of Alstom after the accounts and +4% of Continent groupthe Frankfurt which also supports the progress of Pirelli +2,4%.
Stock exchanges latest news: banks down in Piazza Affari, sparks on Telecom
In Milan, after the euphoria following the publication of the results, slow down Bper +0,33% simultaneously with profit taking on Bpm bank -2,5% after yesterday's leap. In the red also Inwit -2% results in line with expectations and the downgrade of Mediobanca Securities.
Still weak Finecobank -0,6% after the crash on the eve (-5,7%) in the wake of the quarterly and the revision of the estimates for 2023 on the interest margin front.
In sharp decline Unieuro -8,1% after the results of the 2022-23 financial year.
Among the positive voices back in the limelight Telecom Italy + 3,4% at 27/28 cents on the wave of hypotheses of network rearrangement: the market today gives credit to the project that would see the Kkr fund lead the spin-off of the infrastructure supported by a public entity and by Tim itself. The goal could be to replicate Terna's model, with the infrastructure listed again with the public shareholder holding the reference share.
Spotlight on Enel: the assembly decides on Paolo Scaroni
Almost flat Enel +0,08% a few hours before the shareholders' meeting (starting at 14 pm) which will see the Treasury, with a strong 23,6% stake, and the investors gathered by Covalis to contest the proposal to elect Paolo Scaroni as president. The government list should be able to get approval for its list of six candidates, including Flavio Cattaneo, currently Italo's vice president and designated CEO for the electricity group. The remaining three seats on the board will probably be shared between Covalis and Assogestioni.
The choice of the president promises to be hard-fought and will be a direct confrontation between the Treasury candidate Paolo scaroni, former CEO of Enel and Eni and current president of Milan, and the candidate of Covalis Marco Mazzucchelli.
LENI assembly -0,18% appointed the new Board, Zafarana president and Claudio Descalzi confirmed CEO.
On Wall Street futures are not moved
Little moved Wall Street futures in plaster awaiting the data on the increase in inflation. the Reuters consensus expects consumer prices adjusted for volatile components to have risen 5,5% yoy, from +5,6% the previous month, only a much above-expected figure is likely to push the Federal Reserve to extend the monetary tightening in June.
In the meantime, the Italian secondary is weak in the late morning, roughly in line with the rest of the European sector. The spread stands at 192 points after theannual Bot auction the bonds offered for 7 billion were placed at a rising yield to 3,46% (against the previous 3,39%).
