Closing on the rise in Piazza Affari, with the Ftse Mib rising by 0.93% to 34,657.35 points. Purchases on Diasorin (+5.6%), which published its accounts and confirmed its guidance, and Leonardo (+3%), following the sale of the Wass unit to Fincantieri. Enel was also in the spotlight (+3.8%) after the results which highlighted an Ebitda higher than expected, while Ferrari (-0.9%) and Brunello Cucinelli (-0.9%) fell behind. Iveco Group deflates (+0.2%) during the day after a brilliant start.
On the macro front, the University of Michigan index on American consumer confidence fell to 67.4 points in May, while in February industrial turnover in Italy recorded a decline of 1.7% on a trend basis . UK GDP in the first quarter was above expectations (+0.6% quarterly).
The minutes of the ECB’s April meeting confirmed the concrete possibility of a rate cut in June.
Next week the spotlight will be on US inflation and retail sales. Focus also on the speeches of various representatives of the Fed and ECB, as well as on the quarterly reports.
The BTP-Bund spread is almost stable at 133 basis points with the Italian ten-year bond at 3.85% and the Bund at 2.52%. Among raw materials, oil prices are losing ground with Brent at 83.7 dollars a barrel. On the Forex, the euro/dollar exchange rate is little changed at 1.076 while the dollar/yen rises slightly to 155.9.