The European stock exchanges try to defend the highs reached in recent days. Frankfurt is stable but its Dax30 index is at record levels. Same goes for Amsterdam. Paris rose by 0.4%, London by 0.2% and Madrid by 0.6%. Piazza Affari, one of the markets furthest away from the historical highs marked in 2000 above 51 thousand points, falls by 0.25%, affected by the effect of the coupon detachment by 6 big companies (Banco Bpm, Campari, Cnh Industrial, Ferrari, Stellantis and Unicredit). This effect weighs about 0.15% on the Ftse Mib. The spread is in the area of 100 points, waiting for the first judgment of the big players on Friday 23 April rating agencies , that of S&P, on the Italian debt, which together with the deficit is rising and could put pressure on government bonds. Also on Friday the placement of the BTp Futura . Meanwhile, the US futures herald a subdued start, after the records set on Friday. The euro strengthened, returning to levels it had not seen against the dollar since March.
In Milan Cnh is the worst title, Stellantis is fine
At Piazza Affari, the eyes are focused on banks and in particular on Unicredit, after the era of the new CEO, Andrea Orcel, who according to analysts and investors could soon launch extraordinary transactions. The securities of the institute fell by about half a percentage point given that today they detach a coupon of 0.12 euros. Banca Bpm is also weak, on the day of detachment of the 0.06 euro per share dividend, which however gives shareholders a yield of around 2.5%. The worst stock of Piazza Affari is Cnh Industrial, accusing the backlash both of the detachment of the coupon of 0.11 euros and, above all, of the news that emerged over the weekend about the stop to negotiations with the Chinese Faw Jiefang relating to the company’s On-Highway business . Negotiations that instead had caused the group’s prices to rise over the last few months. Agnelli Stellantis runs from the galaxy despite the shares detaching a dividend of 0.32 euros. Investors are betting that the auto group will benefit from the economic recovery and are also not ruling out new extraordinary transactions on the horizon. Il Sole 24 Ore reported rumors that the group’s management is working on a reorganization of consumer credit activities, although the timing is not imminent. Ferrari (detaching € 0.86 of dividend) defends the positions, while Exor files its levels. Out of the main basket, Juventus Fc flies enough to boast the best performance of the Milanese market, after the football club signed an agreement with other top European clubs for the creation of a new European football competition, the Super League.
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Euro at the highest since the beginning of March against the dollar, above 1.2
On the currency market, the euro returns above $ 1.20 for the first time since early March. US economic data released last week is not providing support for the greenback. Meanwhile, on the macro front, it was announced that in the Europe of 19 in February compared to January, production in the construction sector fell by 2.1%, after the increase of 0.8% the month before. Compared to a year earlier, the reduction stood at -5.8%. Oil prices, on the other hand, are not very lively: in New York the price remains in the area of 63 dollars. But last week, earning 6.4%, he came up with the biggest gain in six weeks.
Tokyo flat after export and industrial production Japan
Closing on almost unchanged levels for the Tokyo Stock Exchange where the data on the trend of national exports and industrial production (revised upwards in February) had a limited impact on trade. At the end of the session, the Nikkei index posted a gain of 0.01% to reach 29,685.37 points. Japan’s exports rose 16.1% in March year-on-year. This was announced by the Ministry of Finance
according to which this is the largest increase since November 2017. The March figure follows the 4.5% decline recorded in February. Imports, on the other hand, gained 5.7%
trend after an increase of 11.8% in the previous month. In February
Japan’s industrial production fell by 1.3% on a monthly basis. This was announced by the Japanese Minister of Economy and Trade according to which, on a trend basis,
the decline was equal to 2 per cent. The monthly figure is better than the preliminary reading which indicated a decline of 2.1 percent.
What’s on the agenda
In the macroeconomic calendar, the main indicators will arrive towards the end of the week: Thursday will be the turn of Italian industrial turnover and consumer confidence in the euro area, on Friday the first estimate of the IHS-Markit Pmi indices for April will be released, giving the pulse on the performance of manufacturing companies, as they are the result of interviews with those responsible for their purchases. The most awaited event of the week, however, is the press conference of Christine Lagarde scheduled for Thursday 22 April: attention in particular to announcements regarding the securities purchase program.