by Verità&Affari editorial team
European stock markets closed the last session of the month weakly given that they will be closed tomorrow for the Easter holidays. Milan’s Ftse Mib thus ends around parity (-0.03%), while remaining above 34,700 points, with investors awaiting new signals from central banks on a possible cut in interest rates for June. Tomorrow, in this sense, will be the key day, with inflation data from France and Italy, but above all the US PCE deflator, the Fed’s preferred measure for monitoring price trends. Meanwhile today encouraging signs arrived on the macro front, with US GDP in the fourth quarter revised upwards to 3.4%, but also from the words of the governor of the Bank of Italy Fabio Panetta, according to whom “the risks to price stability have been reduced and the conditions for starting monetary easing are being created”.
Coming to the individual stocks on Piazza Affari, Saipem’s rally continues (+3.1%) with a positive opinion from Barclays. Brunello Cucinelli also starts to rise again (+2.5%), together with European luxury, which also drives Moncler (+0.96%). Unicredit also runs (2.19%), together with the banking sector (Euro Stoxx 600 Banks +0.7%). Unipol did well (+0.67%), with Consob’s approval for the takeover bid for UnipolSai Assicurazioni. Opposing front for Iveco (-2.06%), Stellantis (-1.27%) and St (-1.27%). On the exchange rate front, the euro is losing ground against the dollar at 1.081 (1.082 the day before), the euro/yen cross is at 163.4 (from 163.69). Oil is up by more than a percentage point, with May Brent at 86.6 dollars a barrel and WTI at 82.75 dollars. Gas is decreasing, dropping 1.5% to 27.3 euros per MWh in Amsterdam. Bitcoin is back close to $71,000. The spread stands at 137 points.
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