The risk appetite on the financial markets flattened out in the European afternoon, while thethe Israeli army would ready to enter Rafah and the rain of quarterly reports and macro data fertilized the desire for stocks on the stock exchanges in an uneven manner.
Le European squares they close like this not far from parity, a session that started this morning under good auspices thanks to purchases on tech stocks, in the wake of the accounts of Asm International (+10,53%). The quarterly of Handelsbanken (-12%) however held back the banking sector, with the Swedish institution showing declining profits due to the increase in expenses. Confidence in the eurozone is also in chiaroscuro: in Germany,Ifo index rose above expectations while in Italy the ISTAT data fell for both consumers and businesses.
Meanwhile, he's looking for direction Wall Street, after a good start (DJ -0,47%), supported by technology stocks and Tesla (+12%) which presented its quarterly report last night and promised new, cheaper models for 2025.
Europe in decline, Kering collapses
Business Square loses 0,27% and stops at 34.271 basis points, with stm (+ 5,3%) and Recordati (-4,98%) on opposite sides of the price list. Realizations on banks and Telecom (-1,14%), after the previous brilliant days.
The closure is flat London (-0,7%) And Amsterdam (-0,09%), while it is down in Frankfurt -0,36%, Madrid -0,42% Paris -0,17%. In the French capital the thud of Kering (-7,17%), which confirmed thealarm about the first half of the year and a collapse in operating profit which should be between 40% and 45%, especially due to the decline in sales of Gucci, the luxury group's main brand. The stock has lost approximately 20% since the beginning of the year and almost 60% since June 2021.
The dollar strengthens, oil declines
The appetite for the returns on the foreign exchange market dollar, which crushes the yen at an exchange rate around 155,1. L'euro trades below an exchange rate of 1,07 which was touched yesterday with disappointing PMI data for the United States. These are macro trends that are carefully read by the market, to understand what direction the Fed will take in the coming months. Today he durable goods orders show an increase of 2,6% in March, against expectations for a +2,5%, while the preliminary estimate of GDP for the first quarter and the PCE data on inflation are expected this week.
Sales are back on T Bond, in the midst of the busy auctions of the week. Prices are thus falling and yields are rising, with the ten-year rate above 4,65%.
On the other hand, they weaken crude oil prices and both Brent and WTI futures, for June delivery, lose about half a percentage point.
Piazza Affari, Stm shines
On the main list of Business Square STM stands out today, supported by Asm's accounts and by the return of purchases in tech stocks, after an unhappy period for these stocks.
Also good Prysmian + 1,22%.
Unipol, which started off strong on the day of the meeting, reduced its gains to 0,42%. Barclays confirmed its 'overweight' rating on the stock, improving the target price to 9,4 euros in the belief that it can further benefit from the planned merger with the subsidiary UnipolSai.
Financial stocks are mostly weak, but it stands out Banca Mediolanum + 1,31%.
It collapses instead Ps -2,25%, which had gained a lot in recent sessions. It's flat Understanding, Which has approved its best budget today and a dividend of 29,60 cents per share.
Luxury stocks are contested. Moncler snubs Kering and gains 1,46%, waiting to publish the accounts on Tuesday with the markets closed, while cucinelli falls by 1,78%.
The biggest drop of the day is Recordati, subject to realizations after Bloomberg yesterday wrote that CVC Capital Partners would be evaluating various options for its controlling stake in the company. Possibilities include a sale or a merger with another company. Amplifon goes down -2,15%.
Among the titles under observation today was Eni, -1,83%, than in the quarter achieved a net profit of 1,2 billion, down 49%, despite production growing by 5%. According to the six-legged dog, the accounts for the start of the year were held back by the decline in gas prices.
In the oil sector there is also a decline Saipem -3,32%.
It's in the shade Generali, -0,26%, which carried out its work today assembly for the green light for the 2023 budget and the dividend growing by 10,3%. UBS raised its target price on the shares to 4,2 from 4,05 euros.
Spreads and rates on the rise
The session ends in red on the secondary side.
Lo spread between 10-year BTPs and Bunds of the same duration it widens to 137 basis points and rates rise. At closing, the Italian stock is indicated at 3,94%, against 2,56% for the German stock.
