Another session with little movement for European lists, closing a positive week on the whole. Trump slightly cripples oil, but the markets of the Old Continent are holding their course. Milan +0,16%, 23.829 points, close to the highs of the year. Good Telecom +1,6%, banks and insurance companies. Slightly more tonic Paris +0,29%; Madrid +0,16%; weak Frankfurt -0,21%. Outside Euroland London, +0,54%, Zurich -0,17%.
Consumer confidence rises in the single currency area, while the euro loses share against the dollar with the exchange rate around 1,22. Mario Draghi assures that the economy has grown in a "robust" way and this has translated into "significant improvements in the labor market. The unemployment rate fell to its lowest since 2008. The momentum will continue, but an ample degree of monetary stimulus remains essential to support inflation. The Petroleum brakes its run (Brent -0,49%, 73,42 dollars) with Donald Trump pointing the finger at the producers gathered in Saudi Arabia for production cuts.
Wall Street moves down. The rally of is not enough General Electric after the accounts to support the Square of New York. It's still downhill Apple Lossless Audio CODEC (ALAC),, while US oil stocks suffer from the president's Tweet: “OPEC seems to be doing it again – he chirps – With record quantities of oil everywhere, including fully loaded ships at sea, prices are being artificially kept very high! It is not good and will not be accepted!”.
In Piazza Affari, after the excellent performance of the last few sessions, Saipem loses 0,83%; Eni -0,3%. Tenaris +0,3%. The best headlines of the day are Telecom, while the tensions between Vivendi and Fondo Elliott continue on the legal level with the hearing in the Court of Milan on the integration of the agenda for the shareholders' meeting on 24 April. The decision should come on Monday.
Among the banks they stand out Ubi, +1,5% and Bper +1,08%. In Unipol insurance +1,26%. Buzzi is up +1,5%. The session is in the red for Campari -2,54%; Cnh -1,79%; Stm -1,49%; Banca Generali -0,79%%. The Italian bond recovered positions in the final stages, with the yield on the 10-year BTP remaining at 1,78% and the spread with the Bund recovering slightly to 118.80 basis points (+0,34%).
