Piazza Affari rises in the first trades
An upward start for Piazza Affari, with the Ftse Mib index which in the first few stages marks an increase of 0.62% to 27,265 points. Among the stocks in evidence Pirelli which rises by more than one percentage point after the results of the first quarter. More marked progress for Recordati (+2%) and Cnh Industrial.
The main European markets were positive by around half a percentage point, with Frankfurt +0.53%, Paris +0.52% and London +0.43%.
Do Value collapses
Sales on DoValue which records the worst performance of the entire list, losing 13.17% to 4.55 euros. Yesterday DoValue announced that it closed the first quarter with a net profit of 500 thousand euros (from 10.4 million in the first 3 months of 2022), gross revenues of 101.4 million (-22.7% compared to the first quarter 2022) and an EBITDA excluding non-recurring items of €30.1 million (-23.4% annually). «Despite the better than expected results at Ebitda level, we believe a strong acceleration is necessary to reach the consensus estimates», commented the Equita analysts. The market expects an Ebitda of approximately 200 million for the full year. Instead, the Intermonte experts speak of “results worse than estimates”, pointing the finger above all at the “revenue components”.
Slightly moved spread waiting for Fitch
Contrasting closure for US stocks yesterday. The Dow Jones fell by 0.66%, while the Nasdaq closed the trading with a slight increase (+0.18%).
The spread was little moved compared to yesterday’s session, at 190 basis points. Fitch’s judgment on Italy’s rating is expected tonight.
Giorgetti available on Mes
Italy is ready to evaluate and ratify the reform of the European Stability Mechanism (MES), but is pushing for greater flexibility in calculating investments under the new rules of the EU Stability Pact currently being drafted. Economy Minister Giancarlo Giorgetti said this tonight on the sidelines of the meeting with Eurogroup President Paschal Donohoe at the G7 summit in Japan. Giorgetti said Rome was open to dialogue over the so-called bailout fund if it is part of broader European-level reforms, including Italy’s request to exclude some investments from calculating the budget deficit.
Giorgetti, explains a press release, specified that investment spending for the ecological and digital transition should have preferential treatment in the new fiscal rules of the European Union. The meeting was “intense and constructive”, added the minister.
A brilliant week ends
The week is about to close with a series of interesting news on the graphic picture, the result of the combination of some factors, including above all the confirmation of the slowdown in US inflation and the weakness of the Chinese restart. In summary:
1) yesterday the Nasdaq Composite scored new fractional highs from August 2022 at 12,347 points. Meanwhile, the FANG Plus index, which compiles Wall Street’s top ten technology metrics, rose 0.90% to 6,421 points for its highest level in a year. Great protagonist Alphabet (Google), which with yesterday’s +4.3% has pushed itself to the top since August;
2) the Nikkei 225 index closed this morning on the tops since January 2022, for a weekly balance close to +3%. Since January 1, it has grown by +7.50% in euro terms, not bad in terms of diversifying the equity portfolio;
3) the Bloomberg index of the main commodities yesterday marked the lowest level since January 2022 due to the weak demand of one of the world’s major consumers, China, and the prospect of a slowdown in the US;