(Il Sole 24 Ore Radiocor) – Positive closure in Piazza Affari, supported by banks and utilities, at the end of a session with little movement in which the European stock exchanges moved in random order, with Wall Street debole. Investors are once again looking at the next moves by central banks, with Philip Lane of the ECB confirming the trajectory of increases. Focus also on the trend of inflation (in Great Britain it fell to 10.1% in March from 10.4% in February, but less than expected which were at 9.8%, while the European one was confirmed down at 6.9%), while it is The American quarterly season is now in full swing. Expected in the evening the Fed’s Beige Book. On the quarterly front, after the disappointment of Goldman Sachs and Netflix (accounts in line, but subscriber growth below expectations) which curbed enthusiasm, eyes focused on Morgan Stanley (which recorded accounts down but better than expected) and Tesla.
In Milan, the Ftse Mib closed up by 0.15%, touching its highest level since January 2022, in Paris, the Cac40 gained 0.21%, in Frankfurt, the Dax40 gained 0.08%, while in London, the Ftse100 lost 0.13% and in Amsterdam the Aex lost 0.38%.
In calo Wall Street, Morgan Stanley debole
It traded below Wall Street parity, with investors grappling with another set of quarterly earnings and the prospect of another US interest rate hike to fight inflation. Morgan Stanley stock is weak but is traveling above the lows of the opening, after the bank saw a drop in profit (-19%) and turnover (-2%), still beating analysts’ forecasts, thanks to the performance exceeding estimates of trading activities.
Tim’s thump in Milan after Cdp and Kkr offers
The banking risk continues to ignite the fantasies of investors in Piazza Affari: Mps rally (+3.8%) when the hypotheses of a merger between Banco Bpm (+2%) and UniCredit (+1.7%) sponsored by the neo president of the Crt Foundation, Fabrizio Palenzona, a member of both institutes, pushed the quotations. The search already underway for a partnership with a “primary operator” on POS and cards also supports the title of Piazza Meda. Among the utilities, Hera (+2.57%) and A2A (+2.45%) stand out. Among the titles in the “red”, a resounding thud by Tim (-8.3%) after the mini-tweaks to the offers for the network, which remain far from the wishes of the French shareholders of Vivendi. Saipem was also weak (-2.5%) which extended the “offshore drilling Santorini” contract worth 280 million dollars. Down St (-2.1%) after the weak estimates of Asml. Outside the main segment, Mfe A rose by 0.8% after 2022 accounts which see a profit of 217 million and revenues down 4% to 2.9 billion.
Spread closes higher, 10-year yield rises to 4.35%
Closing up for the spread between BTp and Bund. At the end of the day, the yield differential between the 10-year benchmark BTP (Isin IT0005518128) and the same German maturity is in fact indicated at 185 basis points from the 182 points of the closing on the eve. More significant increase for the yield of the ten-year benchmark BTP which closed at 4.35% from 4.28% in the previous session.