Green triumphs in the old continent, with European stock exchanges which are proceeding slowly on the road to increases, driven by industrial stocks and now convinced that the ECB will not hesitate to cut rates at its next meeting on 6 June. Further confirmation comes from the Spanish vice-president of the ECB Luis de Guindos, who, presenting the 2023 annual report before the Committee on Economic and Monetary Affairs of the EU Parliament, stated that "if our updated assessment of the inflation outlook, the dynamics of underlying inflation and the transmission force of monetary policy If we further increase our confidence that inflation is converging towards our objective in a lasting way, it would be appropriate to reduce the current level of restrictive monetary policy”.
Stock market latest news: Europe on the rise, industry rises in the wake of Abb
In this context, European stock markets are proceeding in positive territory (Stoxx 600 +0,24%) driven by the good performance of industrial stocks. The positive results of Ab (+5,27%) after the Swiss engineering company's earnings beat market expectations in the first quarter. Instead it collapses in Paris Sartorius (-10,2%) which is about to record the biggest drop in the last six months after a less than encouraging quarterly in terms of orders and revenues. Among other titles, Planisware jumps more than 25% in a stellar debut for the French software group at Euronext in Paris, helping revive a hotly anticipated reboot of IPOs.
Returning to the indexes, Business Square it proceeds in green, but slowly, rising by 0,17% to 33.688 points. Similar trend to Frankfurt and Amsterdam (both at +0,1%), while they are more toned Paris (+0,44%) and above all Madrid (+0,74%). Outside the EU London rises by 0,27% driven by the run of EasyJet (+2,3%) which predicted a lower than expected winter loss thanks to the increase in flight demand.
In Piazza Affari, banks at the top, Leonardo and oil companies at the rear
The banks keep Piazza Affari afloat, with Ps (+2,26%) which records the best performance of the FtseMib. Positively too Banca Mediolanum (+ 1,4%), Unicredit (+ 1,2%) Bper (+ 1,1%).
Among the best titles there are Prysmian (+ 1,99%) and Campari (+1,95%). Utilities are good with Enel (+ 1,5%), Getting very (+ 1,16%) and Hera (+ 0,96%).
However, the stock turns negative BRUNELLO CUCINELLI (-1,35%), after a positive start in the wake of theincrease in revenues and confirmation of guidance.
The achievements are striking Leonardo, which drops by more than 3% after the run of recent months. Oil companies badly: Saipem e Tenaris they both lost 2,4%, Eni 1,4%. Negatively too Iveco (-0,7%) And Stellantis (-0,4%) after the negative data published this morning by Acea on the European car market.
Outside the Ftse Mib, Mfe runs driven by the accounts and the dividend: class A shares earn 6,2%), B shares even 8,2%. Fly Ovs (+6,7%) after the coupon and 2023 results in line with preliminary and expected indications.
The other markets
The currency moved little with the exchange rate euro/dollar which travels around 1,06.
The price continues to fall Petroleum, whose trend is conditioned by weekly EIA data which showed a greater than expected increase in crude oil inventories and a demand for distillates and petrol which appears to be seasonally rather weak. Brent lost more than 1% to 84,2 dollars a barrel, the Texan WTI fell by 1,19% to 81,8 dollars. On the contrary, it is worth the price nickel and aluminium involved in the ban on Russian production announced by the LME in recent days.
Turning to the secondary, the spread between BTP and Bund is essentially stable at 139 basis points, while the yield of the benchmark ten-year BTP is at 3,84% from 3,87% the day before.
