The last session of the week, which also closed the month of April, was archived with the plus sign by the European stock exchanges, which rose for the second day in a row.
The Cac40 was satisfied with a fractional increase of 0.1%, while the Ftse100 and the Dax rose respectively by 0.5% and 0.77%.
Ftse Mib goes down alone in Europe
Piazza Affari failed to tune in with the other European Stock Exchanges and was the only one to go against the trend.
The Ftse Mib finished trading at 27,077 points, down 0.3%, after reaching an intraday high of 27,282 and a low of 26,668 points.
The weekly balance was also negative, given that in the last five sessions the blue chip index lost 2.41% compared to the close of the previous Friday.
Ftse Mib: new declines at risk
After being rejected by 28,000 points, the Ftse Mib started a corrective phase which right at the end of the octave saw it slip down to below 26,700 points, to then recover the 27,000 area.
The rebound from the day’s lows is undoubtedly positive, but for now it should be read simply as such.
The risk of new bearish incursions remains high, which will materialize immediately with a return below 27,000 points.
Beyond this level, the index will first drop towards the 26,700 area and then up to 26,500 points, after which the decline will continue in the direction of 26,000 points.
Only with a more convincing extension above 27,000 points will it be possible to see a recovery towards 27,200/27,300 points first and then towards the 27,500 area.
Exceeding this level will open the door to an ascent towards the top of the year in the 28,000 area, the achievement of which appears premature at least in the immediate future.
I market movers in USA (1-2 maggio)
European equity markets will remain closed on Monday 1 May, while they will be open as normal in the United States.
On the opposite side of the Atlantic, the ISM manufacturing index is expected to rise from 46.3 to 46.8 points in April, while construction spending in March is expected to rise by 0.1% after falling by 0 .1% previous.
For Tuesday 2 May, on the US macro front, we note the Redbook index relating to retail sales in the major US chains.
Orders to industry in March are expected to rise by 0.8% compared to the previous decrease of 0.7%.
On the corporate side, the accounts of Pfizer and DuPont are to be followed before the start of trading on Wall Street, with an EPS expected at 1 and 0.81 dollars, while for Ford Motor there is talk of an earnings per share of 0.41 dollars .
With closed markets we will look at the quarterly reports of Sysco and Starbucks which should report earnings per share of 0.2 and 0.65 dollars.
Macro data in Europe (May 2)
In Europe, the final data of the manufacturing PMI for April is estimated at 45.5 points, while inflation should rise on an annual basis from 6.9% to 7% and the “core” version show an increase of 7.5 %, in line with the previous reading.
In Germany, retail sales are expected to rise by 0.4% in March after a 1.3% decline earlier, while the manufacturing PMI for April is seen at 44 points.
In France, the PMI manufacturing index for April is estimated at 44 points, while the same figure in Italy should drop from 51.1 to 49 points.
Titles and topics to follow at Piazza Affari
At Piazza Affari we note the detachment of the dividend of some stocks and these are: Ascopiave (0.13 euro), Sanlorenzo (0.66 euro), Banca Profilo (0.014 euro), The Italian Sea Group (0.272 euro), Gibus (0.5 euro), Italian Wine Brands (0.1 euro), ReeVo (0.1 euro) and Take Off (0.06 euro).
To follow Amplifon and Campari who will present the results of the first quarter of this year.
Under the Stellantis lens in view of the data on car registrations in Italy with reference to the month of April.
On the agenda are the meetings of some companies for the approval of the 2022 financial statements and these are: Class Editori, Conafi, Franchetti, Marzocchi Pompe, Meglio Questo, Tenax International and Ulisse Biomed.