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Stock Exchange, Ftse Mib above par, spread stable

Byeditorial

May 12, 2021

Despite the much greater indications of the estimates coming from the stars and stripes inflation, which bring the process of normalization of monetary policy closer (even if the Federal Reserve has repeatedly guaranteed that the increases must be considered temporary), the European stock exchanges have ended the session with the plus sign. In April, inflation in the leading economy recorded a monthly rise of 0.8%, four times the consensus, and a + 4.2% annually. In the previous survey, the trend figure had marked a + 2.6% and analysts had estimated a + 3.6%. The “core” figure, calculated net of the most volatile components, is also much higher than the estimates, up by 0.9% (estimates at +0.3%). On our Ftse Mib, which stopped at 24,452.93 points (+ 0.23%), the positive performances of the energy sector securities stand out (+ 2.07% of Eni and + 3.37% of Tenaris) in the wake of the return of Brent at 70 dollars a barrel A decidedly positive day also for UniCredit (+ 2.93%), Banco BPM (+ 1.14%) and + 0.08% of Intesa Sanpaolo. -1.25% for Poste Italiane, which in the first three months marked an increase in net profit of 46% to 447 million (consensus of just over 400 million) and an increase in turnover of almost 10% to 2, 9 billion. In the red, on the day of the accounts, also Banca Generali (-1.1%) which saw net profit rise by 71% to 135.4 million. On the overall, the quarterly results pushed the pair formed by Salvatore Ferragamo (+ 4.55%) and Safilo (+21.31%). From the government bonds front, the spread between our BTPs and the 10-issue bonds from the German Treasury, the Bund, it was confirmed at 110 basis points. This morning the Ministry of Economy placed one-year Bot for 7.5 billion euros at -0.443%, less than 1 basis point compared to last month’s auction. (in collaboration with money.it)

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