Thanks to the outgoing quarterly reports (Unicredit and Mediobanca in the lead) after reaching new highs for the year over 21.600, Piazza Affari resets its gains and drops around 14 pm. The other European stock exchanges are flat, however supported by the rise in oil.
The sharp decline in US inventories triggered the crude rally, Brent gained 3% to 50,2 dollars a barrel, this morning it stretches again to 50,90 dollars a barrel, up by one point. Eni advances by 0,5%, Tenaris and Saipem +0,75%.
The auction of medium and long-term Italian government bonds was well received, but without enthusiasm. The Treasury has placed 7,194 billion euros, just below the maximum target of the operation, 7,25 billion.
Yields on long-term BTPs are rising again, while those of short and medium duration decrease. The Treasury placed bonds with three-year maturities at +0,37%, down 10 basis points from the mid-April auction. BTPs were also assigned in May 2024 with an average yield of 1,65%, up by 4 basis points. Btp 2047 were then placed with an average yield of 3,32%. Finally, the 2044 BTPs were assigned to 3,38%. The 2,29-year BTP trades at XNUMX%.
Moderate sales on the German Bund push the 0,45-year yield to +XNUMX%, the highest since March.
After the quarterly Unicredit +4% and Mediobanca +3% advance.
The bank led by Jean Pierre Mustier is the best blue chip: it closed the first quarter of 2017 with a net profit of 907 million, well above the consensus of 612 million.
The Piazzetta Cuccia institution +3%, recorded a net profit of 2016 million euros in the first nine months of the 17-613,9 financial year, up 38,8% compared to a year earlier and above the consensus gathered from the bank equal to 560 million.
Slows General -2%, which closed the quarter with a net profit down 9% to 535 million due to lower realized profits and a higher tax impact.
In negative ground Unipol -0,28%. The CEO Carlo Cimbri this morning illustrated to analysts the perimeter of Unipol Banca's non-performing loans that will be transferred to the bad bank, with the aim of carrying out the transaction by 2017.
Banco Bpm -0,1%, Ubi -0,3%, Intesa -0,5%, Bper Banca -0,5%.
Italian post office -1,1% on the day of publication of quarterly data. The company has warned that it will review its dividend policy, but without major changes.
After yesterday's leap, A2A -0,6% is slowing down. Prysmian still down -1% (yesterday -3,5%).
In the rest of the list:
- Geox +13% the day after the publication of the preliminary data for the quarter, revenues rose by just over 1% year on year, good indications on orders for the new collection. Kepler Cheuvreux has raised the judgment to Buy from Hold and the target price to 3,10 euros from 2,05 euros.
- dice +8%, reacts to the results announced yesterday.
- Also Venture +4%is highlighted for the same reason.
- row +4%, the color and writing group closed the first three months of 2017 with revenues growing sharply to 117,6 million euros, +41,9% from 82,9 million euros, also thanks to corporate acquisitions. 2017 target below expectations.
Down instead Astaldi-3,5%: last night the construction company presented 2017 targets lower than expected.
