European stock markets closed positively and Wall Street was buoyant, thanks to Beijing's conciliatory economic stance and the oil rally, partly galvanized by the escalation of tensions in Syria.
Piazza Affari rises by 0,52% to 23.173 points, with Telecom, +3,04%, queen of the Ftse Mib. Meanwhile, the climate between Vivendi and Fondo Elliott is heating up in view of the meeting on 24 April.
In Europe Frankfurt stands out, +1,11%, which benefits from the words of Chinese President Xi Jinping, at the Boao forum, and from the prospect of "significantly" lower duties on a series of products, including cars. Volkswagen stands out (+4,46%), also supported by the announcement of "developments in its management structure" which could lead to the exit of CEO Matthias Muller. Effervescent Bayer (+4,73%), awaiting the go-ahead for the merger with Monsanto. Paris did well, +0,84%, with Lvmh (+4,82%) in great shape thanks to the turnover in the first quarter above expectations. Madrid is further behind, +0,19%.
Brilliant London +1%. Moscow rebounds, +3,96%, recovering part of yesterday's losses. The ruble, on the other hand, weakens further against the dollar and the government bond auctions scheduled for tomorrow are canceled "due to the unfavorable market situation".
The euro appreciates moderately against the greenback, with the cross around 1,235. Among raw materials, oil is traveling strongly and Brent exceeds 70 dollars a barrel, reaching 70,71 dollars, +3%. Flat gold, 34,84 euros per gram.
On the secondary side, the yield on the 10-year BTP rose slightly to 1,8%, the spread with the German Bund slightly moved at 127.80 basis points. In a study by Morgan Stanley, entitled "April showers bring bond bulls", Italian bonds are recommended: "We believe that the price at which XNUMX-year BTPs trade, also due to the uncertain outcome of the elections, represents an opportunity to take a long position that can benefit from the good fundamentals of the economy”.
In Piazza Affari the most traded title remains Telecom. For Radiocor, the urgent appeal of the company against the integration by the mayors of the meeting agenda with the proposals of the Elliott fund will probably be filed tomorrow. But the Americans are not there and label the move as "another cynical attempt by Vivendi to avoid responsibility and delay the shareholder vote".
In the wake of the easing of trade war risks between the US and China, some industrial stocks such as Prysmian +2.36% and Cnh +2,7% are taking a breather. In Stm money +2,61%. Crude oil prices favor oil companies, in particular Tenaris +2,83%.
Profit-taking penalized some particularly popular stocks in recent sessions such as A2a -1,28%; Snam -0,67%; Moncler -1,08%. The banks were weak, Banco Bpm -1,38% and Unicredit -0,86%.
Outside the main basket, Mps -3,11% remains in reverse. Banca Ifis' rally continues, +3,81%. The prices benefited from the news on the completion of three deals by the newly established NPL area during the first quarter of 2018. According to press rumors, the Veneto bank is allegedly in contention with the Cerberus fund for a 6 billion euro package of non-performing loans which Crédit Agricole intends to sell in Italy.
