MILAN (Reuters) – Weaker indices at Piazza Affari on a day full of corporate results that influence stock prices with investors more inclined to make rather than buy.
A similar situation also occurs in the rest of the European markets with traders preferring not to take a position while waiting for tomorrow’s important data on US inflation.
The data on Chinese imports also weighed heavily, which suffered a sharp contraction in April, according to data released this morning, while exports grew at a slower pace.
At around 12.35 the index was down by 0.51%. Volumes around 740 million euros.
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Banks stand out, even today, in particular Banco Bpm (BIT:) which rips with a leap of 5%, while Banca Mps (BIT:) retraces gains (-1.9%) after a flare at the start and a volatile trend following results for the quarter well above market expectations. The share of the Sienese bank had also risen significantly yesterday and, therefore, post-results, it undergoes some sales due to profit-taking. The Bestinver daily underlines that “Banco Bpm (BIT:) does not incorporate any speculative contribution on the share’s fair value in terms of M&A potential”.
The big Unicredit (BIT:) e Intesa Sanpaolo (BIT:), while Bper (BIT:) is up 2%.
Down the luxury sector penalized by Chinese data. Moncler (BIT:) down 1.2%, Cucinelli (BIT:) down around 2%.
Realize on Juventus (BIT:) (-0.4%) after yesterday’s race.
Forte Brembo (BIT:) up 3% on results and improved revenue estimates for 2023.
The oil sector was negative with Saipem (BIT:) down 2.2% and Eni (BIT:) down 1.2%.
(Giancarlo Navach, editing Stefano Bernabei)