Stock markets in tension after yet another attack in Paris on the eve of the first vote for the Elysée.
The French Cac 40 index dropped by 0,84%, slightly more than Piazza Affari: the Ftse Mib dropped by 0,60% around 19,700. More contained discounts for Madrid -0,30%, Frankfurt and London, both -0,10%.
The European economy remains in good health. The eurozone composite PMI preliminary data in April stood at 56,7 points, the highest for 72 months. An expansion of this magnitude, if it continues, will prompt economists to revise their forecasts for 2017 upwards”, commented the chief economist of IHS Markit, Chris Williamson, underlining that “high growth rates were observed both in the sector manufacturing than in services, the former favored by the weakness of the euro which has caused exports to grow to the highest level for six years”.
Il euro/dollar exchange rate is stable and 1,071.
Il yield of the 10-year BTP is indicated at 2,23%, from 2,25% yesterday. Spreads down at 199 basis points. The Bund rate dropped slightly to 0,23% (0,24% yesterday). The France/Germany spread narrows by 3 basis points to 63.
Slow moving oil: Brent is trading at 52,97 dollars a barrel (-0,1%). Slight decrease for Eni -0,2%.
Saipem advances by 3% after the approval of the accounts: the results for the first quarter were weak, especially as regards the collection of new orders which did not go beyond 500 million euro. Net profit was 47 million euros, down 23% compared to the same period of 2016, with an Ebit of 112 million, down 21,1% against an analyst consensus of 119,6 million .
In Piazza Affari it also goes up Mediaset+1,2%: Goldman Sachs cut its target price to 3,79 euros from 4,32 euros, confirmed Neutral.
Orange at the moment there are no conditions for a possible investment in Telecom Italy -0,95%. This is what the president and managing director of the first French telephone operator, Stephane Richard, clarified yesterday.
Busy day for automotive sector. He misses out Brembo -1,7% down to 69,1 euros. The group may have to bear a portion of the cost of overhauling the parking brake of 53.000 Tesla Model S and Model X vehicles. A device fitted to the parking brake system was not manufactured correctly.
Sogefi is on the rise by 3,2% to 3,934 euros and extends the gain from the beginning of 2017 to +60%, on the highs for three years. This morning Kepler-Cheuvreux strengthened the Buy recommendation by raising the target price to 4,20 euros from 2,50 euros. Advance Fiat Chrysler +1%. Unchanged Ferrari: JP Morgan raised its price target to $72 from $67, confirmed as Neutral.
Between the banks: Unicredit -1%, Intesa -0,4%, Banco Bpm -0,7%.
Generali drops by 0,3%, Mediobanca +0,2%, Cattolica +2,5%.
Moncler -1%: JP Morgan raised its target price to 23 euros from 21,5 euros, Overweight confirmed.
Juventus -7%, it's the worst headline today. Profit taking after the next round in the Champions League.
