Positive EU stock exchanges. Milan in the wake of luxury and oil. Ten-year BTp rate at the top since the beginning of 2019

(Il Sole 24 Ore Radiocor) – The European stock exchanges they move up in the last session of April, even if the monthly balance remains in “red” for many lists, caught between the imminent rate hike, the inflation rush and the consequences of the war in Ukraine. By mid-session, the prospect of a new stimulus plan for the economy in China and the generally positive indications of company financial statements continue to support the indices which, however, have to deal with the uncertain trend of future on Wall Street (penalized by the performance of Amazon and Apple in the pre-market after their respective quarterly). At Piazza Affari the FTSE MIB thus gains ground, bringing the monthly deficit recorded in April to approximately -2.8%. In the rest of the Old Continent, the main price lists in Frankfurt also rise (DAX 30), Paris (CAC 40) Amsterdam (AEX), with London further back (FT-SE 100).

On the macro front, in the meantime, after four quarters of sustained growth, in the period January-March of 2022 Italian GDP has returned to decrease by 0.2% compared to the previous quarter (on a trend basis + 5.8%) while the Gross Domestic Product of Germany it rose 0.2% despite the impact of the war in Ukraine. Me too’inflation in the euro area it is still up in April, + 7.5%. In the afternoon, US incomes and consumer spending are expected for the month of March. In the meantime, the Russian central bank cut the main rate by 3 basis points, from 17% to 14%.

In the US inflation at the top since 1982, also on income and consumption

Also with regard to macroeconomic news, a roundup of data has been published in the United States. In particular, inflation continues to rise: the measure preferred by the Fed to calculate it, the PCE (personal consumption expenditures price index), grew by 0.9% compared to the previous month and by 6.6% compared to a year. earlier, after + 6.3% in February, the highest figure since 1982, while the ‘core’ figure fell to + 5.2%. Labor costs also rose (+ 1.4% in the first quarter, more than estimates), personal income (+ 0.5%, as expected) and consumption expenses (+ 1.1%, above the forecasts).

FTSE Mib stock market trend

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Top luxury and oil in Milan. Donnet confirmed to Generali

The manufacturer stands out among the main Milanese titles Stellantisits controlling holding Exor and always in the “Agnelli galaxy” too Cnh Industrial. Ahead Tenaris between oil and luxury with Moncler. In modest rise General where the list of the board of directors, led by the CEO Philippe Donnet and by the president Andrea Sironi, has checked the one proposed by Francesco Gaetano Caltagirone for the renewal of the board of the company. The first, supported by Mediobanca and foreign funds, received favorable votes in the assembly equal to 55.9% of those present (70.6% of the capital participated in the vote) while the one promoted by the Roman entrepreneur, for whom they voted Leonardo Del Vecchio, the CrT Foundation and the Benettons, also received 41.7% (in absolute terms the two lists collected 39.5% and 29.4% respectively). The Italian-French group Stmicroelectron rises for the third consecutive day after the release of better-than-expected quarterly accounts in a tech sector buzzing with developments in China. The balance sheet data support Eni which, however, after a brilliant start has slowed down its run. Net profit for the quarter jumped to 3.58 billion from 856 million in the first quarter of 2021 and “adjusted” net profit to 3.27 billion from 270 million. At the bottom of the price list Amplifon, Pirelli & C And Banco Bpmwith credit institutions moving in no particular order and next week they will lift the veil on their quarterly reports, providing indications on the impact of the war in Ukraine.

Eni confirms the listing of Plenitude within the year

Not just quarterly accounts. The group Eniin fact, it also confirmed the public offer of shares of the subsidiary Plenitude and the listing on the Milan stock exchange through an IPO by 2022, subject to market conditions. The company writes it in the 2022 outloook indicating that Plenitude’s EBITDA is expected to exceed 0.6 billion, in line with guidance. The guidance of over 2 GW of installed capacity from renewable sources at the end of 2022 has also been confirmed (at 100%).

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Positive EU stock exchanges. Milan in the wake of luxury and oil. Ten-year BTp rate at the top since the beginning of 2019


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