Subdued ending for the European stock exchanges, also held back by the weak performance of Wall Street. In Piazza Affari, the Ftse Mib closes trades down by 0.2% to 27,383 points, with Banco Bpm (+7.5%) recovering after the results of the first quarter.
The institute led by Giuseppe Castagna recorded a profit increase of 49% to 265 million, above expectations, opening to an increase in the remuneration of the partners with the new plan. Bper also did well (+3.9%) on the day of the Board meeting on accounts, while Finecobank fell back (-5.7%) after the accounts and collection data. Prysmian (-2.3%), Mps (-2.2%) and Saipem (-2.1%) also fell.
Wall Street is down slightly, held back by the impasse on the debt ceiling and awaiting tomorrow’s data on inflation, which should show an increase of 5% per annum.
Sentiment was also affected today by the sharp decline in Chinese imports, a sign that the post-Covid recovery of the economy is not as strong as many had hoped.
Yields on the rise on bonds, with the Btp-Bund spread showing little movement at 192 bp and the Italian 10-year bond at 4.26%. On Forex, euro/dollar slips below 1.1 while among raw materials, oil (Brent) sinks the 76 dollars a barrel.