Session in countertrend for Piazza Affari compared to other European stock exchanges. The Ftse Mib ends down 0.58% at 33,724.82 points, weighed down by the detachment of the coupons of eight big companies: Banca Mediolanum, Banco BPM, Campari, Ferrari, Iveco Group, Prysmian, Stellantis and UniCredit.
Iveco Group (-2.2%) closes at the bottom of the main list, after announcing that Olof Persson will replace Gerrit Marx in the role of CEO from 1 July 2024. Sales also on Brunello Cucinelli (-1.3%) while Diasorin advances (+4.1%), Mps (+3.1%) and Recordati (+2.5%).
Upward day for the other European stock markets, in a more relaxed climate after last week’s worries about a possible escalation of tensions in the Middle East. Attention can thus return to focus on monetary policy and corporate profits. On Wall Street, in particular, the accounts of Tesla, Meta, Alphabet and Microsoft will be released in the next few days. In Piazza Affari, however, focus on Saipem, Eni, Moncler and Stm.
Today did not offer any particular macroeconomic insights, waiting for tomorrow’s data on the preliminary PMI indices for April. In the next few days, the spotlight will be on US first quarter GDP on Thursday and March core PCE on Friday.
On bonds, the BTP-Bund spread narrows to 136 basis points, with the Italian ten-year bond falling to 3.85% and the Bund to 2.49% after S&P confirmed Italy’s rating at BBB with a stable outlook .
Among raw materials, Brent oil stands at 86.6 dollars a barrel and gold depreciates to 2,335 dollars an ounce, thanks to the easing of geopolitical risks. On Forex, the euro/dollar exchange rate trades at 1.064 and the dollar/yen stands at 154.8.