Le European stocks accelerate downwards mid-session, with investors preferring to lighten their positions in a climate weighed down by economic and geopolitical fears, including the killing of two Israeli embassy employees in Washington. The sales were helped by Eurozone Composite PMI data: the index, estimated by S&P Global, fell below the 50-point threshold for the first time in five months, stopping at 49,5 (from 50,4 in April). The fault of the services sector, which fell to 48,9, overshadowed the improvement in manufacturing (49,4, a 33-month high).
Not even the improvement in morale of German companies, with theIfo index rose to 87,5, which was enough to reverse the trend. Meanwhile, in the United States, worries the debt after the lackluster Treasury auction, and Wall Street opens so subdued.
Investors seek refuge in safe assets: the bounces to $3.295. The Bitcoin remains strong above 110 thousand dollars (+4,2%), close to historical highs.
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A Business Square the focus is all on Generali, which closed the quarter with a net profit of 1,195 billion, down 4,8% compared to 2024, but the normalized result grows by 7,6%, with the Eps rising by 9,4% to 0,79 euros. Heavy Stellantis which loses almost 4%. Luxury is under pressure, penalised by the disappointing forecasts that emerged from the sector conference in Paris: cucinelli e Moncler lose more than 2%. Weak also the banks, while uncertainty remains over the financial risk: Consob has suspended the offer for 30 days di Unicredit su Bpm bank. The institute led by Giuseppe Castagna has defined the measure as “abnormal” and announced that it will act to protect shareholders. The EU Commission has instead decided not to investigate the takeover bid of B for Bank su Banca Popolare di Sondrio, excluding distortions from foreign subsidies. Utilities hold: eyes also on Enel, on the day of the shareholders' meeting.
Out of the main basket, Banca Sella Holding adheres to the takeover bid launched by Bank Ifis su Illimity Bank, considering the consideration appropriate and the industrial prospects positive. Mediobanca and Jefferies have raised the target price on Fincantieri. Mfe closes the first quarter with a net profit in strong growth to 51,4 million, while Prosieben rejects the takeover bid: “inadequate offer”.
Lo spread Btp-Bund falls to 100 points, with the yield on the 3,65-year Btp at XNUMX%.
In the currency market, the euro is down at 1,1294 dollars. The Petroleum Wti slips below $61 a barrel, Brent below $64. Rises gas, above 36 euros per megawatt hour.
