Stock exchanges rising after the Fed. Stellantis and Unicredit run after the accounts

Chinese exchanges positive, but services activity slows

Towards an upward closure for Asian markets: if the NIKKEI 225 in Tokyo remained in balance, the Chinese squares (HANG SENG, Shanghai) are positive in a session that also affected the effect of the diffusion of the Caixin SME services index in April. The activity in the service sector has undergone a sharp decline. The Purchasing Managers’ Index (PMI), calculated by Ihs Markit and published by the Caixin media group, stood at 36.2 in April against 42 points in March. This is the biggest fall since February 2020, when the Chinese economy was paralyzed by the first global wave of Covid 19.

Unicredit: Russia weighs on the quarter, profit reduced to 247 million

Unicredit runs on the stock exchange after the institute closed the first quarter with a net book profit of millions, down by 72.2% compared to last year, after carrying out prudential write-downs on loans for 1.3 billion almost entirely towards the Russia’. Net of Russia, the profit rose by 37.8% to 1.2 billion. The group reduced its exposure to Russia by 2 billion overall. This is what emerges from the press release on the institution’s quarterly accounts. The maximum loss linked to Moscow in the worst scenario is now equal to 5.2 billion, with an impact of 128 basis points on the Cet1 coefficient.

Stellantis: revenues above expectations in the quarter

Stellantis closed the first quarter of the year with revenues of 41.5 billion euros, up 12% compared to the same period a year ago, although consolidated deliveries fell 12% to 1.374 million units. Management confirmed the forecasts already announced for the whole of 2022. Stellantis, on the other hand, has revised down the estimates for 2022 on the European and North American auto markets. After the first quarter, the group
automaker expects the North American auto market to remain stable compared to 2021, when previously expected growth of 3%. With regard to
the enlarged Europe area: the forecast is now for a decrease of 2% at the end of 2022 compared to 2021, when the previous estimate was for a growth of 3%. Unchanged at + 3% respectively
and estimates for the auto market in South America and India and Asia-Pacific at + 5%.

Tim: agreement with OF on a single network within a few days

On the single network project that would put the assets of Telecom Italia with Open Fiber “there has been some delay, no friction, but there is a convergence of interest from all the stakeholders, it is a project of unique complexity”. This was stated by Pietro Labriola, CEO of Tim, speaking at a press conference on the memorandum of understanding project that Tim and Cdp, the majority shareholder of Open Fiber, are discussing. “I don’t see problems and frictions, I’m optimistic that I can close quite quickly, even in a few days”. The forecasts were to close the agreement by the end of last April.

Oil rises ahead of Opec + meeting

In content increase the raw, in view of the OPEC + meeting on the offer and after the leap recorded with the intentions of the European Union to impose a progressive ban over the next six months on Russian oil: the WTI June futures rise 108 dollars a barrel, after the rise of more than 5 points on the eve of the year, and those of Brent at 110.5 dollars. Prices of gas a slight increase to € 105 per megawatt hour.
On the foreign exchange front, theEUR recovered ground on the dollar and changed hands at 1.061 (1.055 on the evening of Wednesday 4 May).

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Stock exchanges rising after the Fed. Stellantis and Unicredit run after the accounts


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