After a first part of the session in substantial equilibrium, after the mid-day threshold, the European stock exchanges found in the good performance of auto and pharmaceutical stocks the opportunity to move into positive territory, waiting for the opening of the American stock market, with the Wall Street futures anticipating an upward start. Thus, pending the data on consumer confidence in the United States, the main indices of the Old Continent are up, with the CAC 40 in Paris, the Ftse 100 in London and the IBEX 35 in Madrid traveling at a faster pace, while the DAX 30 in Frankfurt and the FTSE MIB in Milan lag slightly behind. This in the aftermath of the “super Thursday” characterized by the ECB meeting, which confirmed the accommodative approach of Frankfurt, and by the American inflation data.
Future up on Wall Street, after the eve of records
Futures point to a slightly higher opening on Wall Street, following yesterday’s intraday and closing records for the S&P 500. Investors were waiting for the consumer price data, one of the most monitored for assessing inflation: in May, prices have risen at the fastest pace since August 2008, demonstrating the economic recovery, and the “core” figure marked the largest increase since June 1992. The May figure, although higher than expected, does not scare investors: the Fed dismisses these increases as provisional increases and no news is expected from the next Fomc meeting scheduled for 15-16 June.
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At a rapid pace Diasorin, banks are down
In Piazza Affari, the healthcare sector was especially highlighted, with Diasorin in the front row, after the positive opinion arrived from the broker Berenberg. The investment house has raised the recommendation from “hold” to “buy”, indicating a 12-month price target of 170 euros (from 150). Inwit and Nexi are also doing well, at their highest since the listing in 2019 in the wake of the trend in the volumes of use of payment cards. Weak banks and insurance companies, but above all Cnh Industrial, in their third consecutive decline after updating the historical top to 15 euros per share.
Laurent-Perrier champagne rises in Paris
On the other lists, in red Deutsche Bank in Frankfurt and Technipfmc in Paris. Still on the French stock exchange, a good performance for Laurent-Perrier champagne, after the annual accounts. The maison ended the 2020-2021 financial year (in March) with a net profit up 6.5% to 25.2 million euros, despite a 19.5% drop in turnover to 195.2 million of the Covid-19 pandemic.