In the final rush of the week, i European markets engines are turning on, driven by the better-than-expected performances of some large US companies, with Alphabet (Google) and Microsoft in the lead. Despite the slide of the US economy, with GDP growth slower than expected (+1,6%) and inflation aiming for the stars, the stock markets of the Old Continent find momentum thanks also to the ECB's 12-month inflation outlook, which fell to 3% from 3,1%, and a series of quarterly comforting.
Europe advances while waiting for US data, Wall Street futures decline
While Milano jump of 1,01%, Paris accelerates by 0,37% thanks to the accounts of the Crédit Agricole subsidiary, Amundi (+5,58%). Frankfurt flies by 0,76%. They shine Madrid (+ 1,03%) and Amsterdam (+1,07%), the latter driven by CVC debut (almost +24%). London more timid, it achieved +0,51%, thanks to Natwest's excellent quarterly results (+5,69%). While Bhp (-0,45% in the pre market) slipped after the rejection by Anglo American (+0,33%) to the offer of Australians.
I futures on New York they light up red with those of Nasdaq down 0,64%, the Dow Jones at -0,98% and theS & P 500 at -0,46%, awaiting a series of macroeconomic data, including the PCE deflator for March, an indicator particularly followed by the Fed to evaluate inflation.
ECB: inflation expectations falling to 3%
Perceptions over the past 12 months indicate a steady decline in the median rate of inflation perceived by consumers, falling to 5% compared to 5,5% in February. Even the perspectives futures are tinged with moderation, with median expectations for inflation over the next 12 months falling to 3%, reaching their lowest level since December 2021. In contrast, three-year forecasts remain stable at 2,5%, confirming a perception of inflation constant in the long term.
This data, revealed in the latest monthly analysis of European Central Bank, highlight a significant gap between perceived future and past inflation expectations. The ECB also highlights a decrease in uncertainty over the short-term inflation outlook, marking the lowest point since the start of the conflict between Russia and Ukraine in February 2022.
In Milan the banks and Prysmian did well
In Milan, they shine Prysmian (+ 3,32%) and nexi (+2,74%). The banks are doing well, with the Popular of Sondrio e Ps in the lead with an increase of +3,09% and 2,31% respectively. Also shopping for Bpm bank (+ 2,07%) and Unicredit (1,93%).
Also good Erg (+ 2,9%), Iveco (+ 2,59%) and Interpump (+2,08%). Advance Teneris (+1,38%), despite a 17% drop in revenue to $3,4 billion and a 34% drop in profit to $750 million.
They are placed at the bottom of the list Moncler (-1,02%), despite the good quarterly results, Ivy (-0,94%) And stm (-0,81%) which slows down slightly after announcing lower-than-expected results, despite confirming the plan forecasts. Instead Unipol records an increase (+0,48%) on its last day of public tender offer on Unipolsai (+ 0,15%).
Bad too A2a (-0,08%).
Out of the main basket Saras marks a +0,58% after the government gave the green light for the sale of 35% of the capital to Vitol
Euro little moved, spread narrows
In the currency market, theeuro remains stable compared to dollar (1,07), while the Petroleum shows signs of recovery, with the WTI reaching 84,17 dollars a barrel and Brent touching 90 dollars a barrel. The price ofgold recorded a slight increase of 0,4%, while the gas drops by 1,25%, below 30 euros per mwh.
Government bonds also recover after being under pressure in recent sessions: the BTP yield falls below 4%, to 3,92%, while the spread with the Bund it is reduced to 134 basis points.
