On a stormy day, between Dieselgate, Donald Trump and the political earthquake in Brazil, the Milan Stock Exchange holds its course well and closes above parity, +0,07%, 21.299 points, after having suffered a loss in the middle of the session 2%. Worst stock is Fiat, -3,11%; best Bank Bpm +2,5%. They are trying to recover, but the other continental markets remain in the red: London, -0,89%; Madrid -0,94%; Paris -0,53%; Frankfurt -0,33%. Wall Street opens weakly, but a series of positive macro data and the speech of the Secretary of the Treasury, Steven Mnuchin, in the Senate, restore some confidence to investors.
The three main price lists are currently moving in positive territory. An apparently serene climate, especially as news of a scandal for alleged bribes arrives from the Americas, with the president of Brazil, Michel Temer, at the centre. The earthquake heavily shakes the São Paulo stock exchange which plummets and plunges to an opening of 8%. The real, the Brazilian currency, also collapsed, down 5% against the dollar. The greenback bounces against all other currencies. Even the euro loses 0,37%, the cross is 1,11. Oil is recovering, after the morning's losses. Brent +0,57%, 52,51 dollars a barrel. Gold falls -0,56%, 1254,24 dollars an ounce.
On the bond front: the Italian 2,15-year bond maintains its appeal and the yield falls to 179.40%, but the Bund does better and the spread rises to 0,96 points, +2023%. The rise in the Btp is also limited by the assignment of the new Btp Italia, May 5,4, placed by the Treasury to institutional investors for 3,19 billion euros, which added to the approximately 8,59 billion of the offer to the retail public make a total of XNUMX billion.
In Piazza Affari, two stocks are most penalized: Telecom -2,62% and Fiat -3,11%. The former suffers from the Carioca scandal, given that the telecommunications giant achieves 25% of its consolidated turnover in the South American country through its subsidiary Tim Brasil. The second, after the beating that arrived yesterday from Brussels, today has to deal with the news that the US Department of Justice is ready to take a civil suit for violating the regulations on emissions. FCA is also losing share in New York and Sao Paulo. Final sprint instead for Ferrari +1,16%, after a heavy initial heel.
Financials close mixed and at the extremes we find Banco Bpm +2,53%, best stock of the day and Bper -1,16%. Very good performance for Finecobank +2,1% and Generali +1,01%; bad Unipolsai -1,3%. Different speeds for oil: Saipem -1,5%; tenaris +0,85%; Eni +0,27%. Utilities did well with Italgas +1,32%. Industrial stocks such as Prysmian -1,06% and Stm -0,96% are still weak. In dust Luxottica +1,02% and Ynap +1,65%.
Outside the main list, purchases are concentrated on Fincantieri +5,83%. Sales instead hit Salini Impregilo -4,14%. Thud of Juventus -4,24%, after the victory against Lazio and the conquest of the Italian Cup.
