Positive session for Piazza Affari and the other European stock exchanges. The Ftse Mib closes trading up by 0.75% to 34,242 points, with Campari (+6.8%) at the top after the accounts and confirmation of the targets. Unicredit was also in the spotlight (+3.6%), following the above-expected quarterly result and the improvement in guidance. Ferrari fell (-4.7%) after the publication of the results and Leonardo before the release of the quarterly report with the markets closed.
In addition to corporate results, traders continue to monitor developments on the monetary policy front. Minneapolis Fed President Neel Kashkari said recent inflation data raises questions about whether monetary policy is tight enough to bring price growth back to the central bank’s 2% target. Also today, the Reserve Bank of Australia left interest rates unchanged, as expected.
On the macro front, German factory orders missed expectations in March, marking a monthly decline of 0.4% and a decline of 1.9% on an annual basis. Eurozone retail sales rose by 0.8% cyclically and 0.8% year-on-year, above estimates.
On bonds, the BTP-Bund spread stood at 133 basis points, with the Italian ten-year bond at 3.75% and the Bund at 2.42%.
Among raw materials, oil prices are moving slightly lower with Brent at 83 dollars a barrel, with focus on the Middle East and the EIA market estimates.
On Forex the euro/dollar exchange rate stands at 1.078 and the dollar/yen rises to 154.5.