I European lists close just short of parity, despite the day being very busy (as was the week that ends today) due to thehigh tension in the Middle East between Iran and Israel. What made investors' wrists tremble in the European morning was the news of an alleged Israeli retaliation against Tehran, which occurred during the night. As the hours passed, however, the atmosphere partially calmed down, because there are many elements to be clarified and the Iranians would not be willing to respond immediately. Thus the markets mute the fears of widening of the conflict, even if the weekend remains an unknown from a geopolitical point of view. In a fluid context, after a start in deep red, mirroring the Asian losses, the European markets close mixed and Wall Street moves in random order in the middle of the day. The fear index (or volatility index, Cboe) rises to its highest level in five months.
Europe contrasted; Milan +0,12% awaits S&P's judgement
Milano reaches the finish line with a mini progress by 0,12% to 33.922 basis points. They shine on the price list defensive stocks such as utilities, but oil stocks are negative. Well Telecom, +1,28%, while the network sales project continues. Financial stocks closed mixed. On the secondary it spread it is stable at 140 basis points, as are the yields: the ten-year BTP is at 3,88% and the Bund of the same duration at 2,49%. This evening St&P will update its opinion on the Belpaese, confirmed in October at BBB, (two steps above the junk level), with a stable outlook. The rating agency has meanwhile Israel relegated to A+ from AA-.
In the rest of Europe, the cosmetics giant stands out in a colorless Paris L'Oreal +5,44%, which recorded a nearly 10% increase in first quarter sales on a like-for-like basis.
London it is a slight gain +0,23%, while they retreat Frankfurt -0,58% and Amsterdam -0,62%.
Wall Street, good Amex and Paramount
On Wall Street the price lists move in no particular order. The DJ is positive, favored by the accounts and the leap of (+4,26%), while S&P 500 and Nasdaq are down. Netflix it loses almost 8%, on revenue forecasts for the current quarter lower than estimates and the mega tech companies are nervous. However, it is on the positive side of the scale Paramount Global (+10%) on reports that Sony Pictures Entertainment and Apollo Global Management are discussing the possibility of making a joint bid for the company.
The oil surge fades
Il Petroleum the initial burst scales back (approximately +4%): Brent gains 0,5%, 87,5 dollars a barrel; WTI +0,35%, around 83 dollars. It retains its charm their, even if spot gold prices remain below recent highs. On the foreign exchange market theeuro holds its own against the dollar at 1,066. Today the president Christine Lagarde he reiterated that inflation could fall further and the ECB could cut interest rates. However, geopolitical risks and high wage growth are variables that put the future at risk.
On the US front, money markets are now pricing in around 40 basis points of cuts, down from around 150 basis points seen at the start of 2024, according to Lseg data.
Piazza Affari, Telecom rises while KKR notifies Europe of the acquisition of the NetCo network
Many embers burn under the ashes, even if the appearance is grey.
In Piazza Affari Telecom is positive with theKkr operation is is going ahead. The US fund has in fact notified the European Commission's Directorate General for Competition of the acquisition of the NetCo network from the telecommunications company. Telecom, in a note, essentially confirms that the sale operation is proceeding according to the scheduled timescales and the aim is to close the operation by the summer.
The best sector of the day is that of utilities, which sees stocks such as rising well Terna + 2,2% Enel + 1,41% A2a 1,38%.
They also record good earnings Diasorin + 1,79% Finecobank + 1,4% Amplifon + 1,06%.
Unipol appreciated by 1,35% on the day of the subsidiary's meeting Bper (-0,11%), which elected the new board of directors who will remain in office for the next three years. The board of directors, we read in a note, will be made up of 15 members of which 7 taken from the list of Unipol, 5 from that of the Sardinia Foundation and 3 from that of the funds. The note does not give information on the votes collected by the three lists but the fact that the first elected is Silvia Elisabetta Candini, nominated by the Managers' Committee, suggests that the list of funds is the one that has collected, like three years ago, the most votes, beating both Unipol, the first shareholder with 19,9% of the capital, and the Sardinian institution, the second shareholder with 10,2%. In any case, the insurance giant has elected Gianni Franco Papa, destined to become the new CEO of the banking institution.
The black jersey of the day goes to stm, -2,29% . Back up Saipem, -2,1%, with Stifel cutting its recommendation to 'Hold' from 'Buy'.
They are negative too Iveco -1,51% Leonardo -1,32% Ferrari -1,12%.
