Elon Musk will reopen the doors of Twitter to Donald Trump? The US media are asking this question after the turning point in the negotiations between the electric car tycoon and the main shareholders of the social network, which closed up 5,5%. Thanks to an offer of 44 billion dollars, Musk will be able to buy the entire capital of the bird and withdraw it from the Stock Exchange. To do with what? A "libertarian" voice, intolerant of vetoes even against preachers of hate? A tool to improve relations with China, with which Musk has good relations? However, the news shook the balance of Wall Street, reawakening US internal politics and virtually opening the electoral campaign for the November elections.
Trump grappling with fines from the New York prosecutor's office
Trump has already replied that Twitter does not interest him because it already has its own network. If anything, he is concerned about the order of the New York judge who fines him 10 dollars a day until he delivers documents to the tax evasion investigation.
The US lists are recovering, in the belief that the Fed's squeeze, all in all, will not be as heavy as feared. It slows down the increase in bonds and the rise of the dollar, which is still at a six-year high. Lastly, the Central Bank's commitment to support the economy and thus revive the stock markets, which have slipped to lows after five bearish sessions, came from Beijing during the night to restore some optimism to the Bull. In this frame, the chronicle of the Ukrainian war, now destined for a long time, fades into the background. As well as the EU sanctions on oil, which are postponed by a week.
Tech starts again, but Beijing's lockdown is scary
The Asian Pacific stock markets rebounded from yesterday's lows for the period; leading the movement are Chinese techs. Hong Kong's Hang Seng Tech gains 5,5%, from -5% yesterday. All thirty components are positive. XPeng +10%. JD.Com +9%, Baidu +8%.
Hong Kong's Hang Seng is up 1,9%, CSI 300 indexes in Shanghai and Shenzen up 1,4%. The yuan appreciates again, after five consecutive bearish sessions.
However, concerns remain about the managerial turnaround in the economy, which coincides with the Covid zero campaign. After Shanghai, Beijing too risks a ferocious squeeze on activities. But the central bank eased the tightening by cutting banks' reserve requirements for foreign currency liquidity.
Tokyo rises, the BoJ struggling with the weak yen
Tokyo's Nikkei is up 0,7% and the dollar-yen cross is little moved, at 128,1, on the eve of the meeting of the central bank.
Kospi of Seoul +0,5%. In the first quarter of 2022, South Korea's economy grew by 3,1% yoy. The consensus was +0,7%.
Nasdaq recovering thanks to cybersecurity and Musk
Yesterday Wall Street staged a strong recovery in the latter part of the session: the S&P500 index closed up 0,7%. NASDAQ +1,3%.
The 2,85-year Treasury Note traded at 19%, down three basis points from yesterday. The yield curve is flattened: the two-year-ten-year spread rises to 23 basis points, from 40 yesterday and around XNUMX ten days ago.
WTI oil up 1%, to 99,4 dollars a barrel after yesterday's plunge. The member states of the European Union will discuss this week a possible agreement for a sharing of the purchase costs of the gas to restore stocks and build supply reserves for the coming winter.
Eurostoxx, futures recovering. The euro rebounds from the lows
After yesterday's troubled start, the markets seem ready for a correction: Eurostoxx futures are up, the euro trades at 1,072, just above the two-year lows reached yesterday.
Meanwhile, bond fever has broken loose. The 2,60-year BTP rate fell below the 170% threshold in the final and the spread on the Bund just over 175 basis points from the maximum of XNUMX.
The situation is less tense because the cooling of the commodity scenario is causing some purchases to return to the long end of the curve: 2,78-year Treasury Notes at 2,95% from 0,85% last week. German Bund at XNUMX%.
European price lists in red despite Macron's victory.
Bad Paris, -2,01%, weighed down by Arcelormittal (-8,35%) and by luxury stocks such as Kering (-4,29%) and Hermes (-3,87%), always attentive to the prospects of the Chinese market .
At the Vivendi meeting (+0,22%), the CEO Arnaud de Puyfontaine spoke of Telecom Italia (-2,44%). With the main shareholder Vivendi (+0,22%) who, through the mouth of the managing director Arnaud de Puyfontaine, says that the expression of interest of the Kkr fund has never turned into a concrete offer: "In any case, we have ambitions far more important than Tim's worth."
Collapse of Philips: -11% on the drop in profits
Robust declines also in Frankfurt (-1,59%) and London (-1,89%), linked to raw materials. Limit losses Madrid (-0,89%).
Philips fell (-11,25%), to its lowest since 2016, after reporting a drop in first-quarter profits due to a global shortage of components and a massive recall of fans.
Only 6 positive blue chips in Milan: -1,51%
Piazza Affari slips to 23.908 points and retreats by 1,53%, in a session with reduced volumes due to the April 25th party.
In the final only 6 blue chips have a positive sign ahead, out of the 40 members of the FTSEMIB. Among the few stocks in positive territory are some utilities, promoted by the Deutsche Bank report.
Only Enel shines. Towards the sale of Celg in Brazil (2 billion)
Above all Enel (+1,5%), pink jersey for the day. According to rumors, the group is negotiating the sale of Celg-D, its energy distribution company in Brazil, an operation that could be worth two billion dollars in value. Among the companies interested in buying the company that distributes energy in the central-western Brazilian state of Goias and serves 3,27 million customers are the Brazilian companies Cpfl Energia, Neoenergia and Edp Energias do Brasil.
Followed by A2a (+0,3%) and Snam (+0,1%). Among the other blue chips, campari (+0,4%), Azimut (+0,3%) and, among the banks, Banco Bpm (+0,7%) closed in positive territory.
Bad automotive and fashion. Oil prices collapse
At the bottom of the list are oil companies: Tenaris -6,8%, Saipem -6,4%. The automotive sector is also bad: Cnh (-5,4%), Iveco (-3,34%) and Stellantis (-2,38%) are depressed. In luxury, Moncler loses (-4,68%).
