The Milan stock exchange is moving sluggishly, with investors hesitant waiting for important indications from the United States. Fears of rising inflation, which could prompt the Federal Reserve to revise its monetary policy sooner than expected, have eased after some reassuring statements from several members of the US central bank, but could resurface with data expected tomorrow. on household spending in the United States and the “core PCE” index, the indication of inflation watched by the Fed.
Meanwhile, today, we will look at unemployment benefits which should provide insights and more information on the state of the US economy. Also for the US, the preliminary reading of durable goods orders in April and the annualized GDP for the first quarter are also highlighted, which should confirm a strong recovery.
In this context, the Ftse Mib index remains close to parity, marking a + 0.19% in the 24,824 points area, after yesterday’s failed attempt to overcome the 25,000 point wall, recording a drop of 0.46%. Among the stocks in the main basket, Tenaris stands out with a rise of 1.7% which takes it to the top of the list. Leonardo follows closely with + 1.3% after yesterday announced a collaboration agreement with Microsoft for the digitization of the Public Administration in Italy.
Banco Bpm continues its run, rising by 1.3% after yesterday the stock hit new highs since March 2018 with market operators returning to focus on a scenario with Banco Bpm prey to Unicredit. The latter advanced by almost 1 percentage point.
On the opposite side, however, Campari and Ferrari slide to the bottom of the list but without jolts, with a decline of around 0.4%.