Positive start of the week for Piazza Affari, which consolidates the hikes made on Friday on the prospect that the Fed will be forced to postpone the start of the expected exit from the current extra accommodative monetary policy due to the slowdown in the growth of US jobs recorded in April.
The FTSE MIB is up, against a uncertain landscape for the other European stock exchanges , with the Cac 40 in Paris and the Dax 30 in Frankfurt below par, as well as the Aex in Amsterdam, while London and the Ibex 35 in Madrid are slightly up. Oil rose, after a cyber attack blocked the operation of an oil pipeline operator in the United States.
At Piazza Affari, a shot by Bper, good for oil
Among the Milanese stocks with greater capitalization, Bper clicks after the quarterly accounts. The oil sector also performed well (Tenarise Saipem was up sharply) after a cyber attack on the operator of a US oil pipeline pushed oil prices higher. Amplifon, on the other hand, is weak, just as Stmicroelectron and Recordati travel below par.
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A shot by Astm, a new takeover bid is approaching
Outside the main basket, Astm is triggered after the price increase of the takeover bid. The prices thus approach the new price of the takeover bid launched by the Gavio family together with the Ardian fund, which on Friday evening relaunched the offer to 28 euros per share from the previous 25.6, bringing the total value of the transaction to 1.85. billions. The new price incorporates a premium of 40.8% compared to the close of February 19, the announcement of the takeover bid.
Spread slightly moved in the 117 points area
Little move to the week for the spread between BTp and Bund. In the initial stages, the yield differential between the ten-year benchmark BTp (Isin IT0005422891) and the same German maturity is indicated at 117 basis points, a fractional decrease from the 118 points on the eve of it. The yield of the benchmark ten-year BTp was also stable, indicated at 0.97%, the same level as the closing on Friday.
Dollar remains weak, oil rises
On the foreign exchange market, the dollar remains weak in light of a probable longer-than-expected rate hike. The euro is worth $ 1.2152, in line with Friday’s close (1.2154) and yen 132.28 (131.76), while the dollar / yen ratio is at 108.99 (108.65). As mentioned, oil on the rise: June WTI futures rise 0.99% to $ 65.54 a barrel, while July delivery on Brent gains 1.08% to $ 69.02.