Contrasted closing for the European lists, conditioned in the afternoon by the uncertainty of Wall Street.
Business Square is positive and gains one percentage point, rising to 17.559 basis points, thanks to a series of better-than-expected quarterly reports and the good trend of the coronavirus infection curve. A fact, the latter, which pushes the Regions to anticipate the reopening and the restart of all economic activities. The Bot auction also went well for Italy today, recording sustained demand and declining yields. the Treasury has placed 10,5 billion annual and flexible BOTs. In detail: 7 billion maturing on 14/05/2021 against a request of 11,936 billion and a yield down by 29 basis points compared to last month's leap, to 0,248%. The coverage ratio was 1,71. Also placed 3,5 billion flexible bots maturing on 14/10/2020 against an almost double request, for 6,69 billion. Italian paper therefore maintains a certain appeal, despite the tragic performance of the economy in the first quarter due to the lockdown. On the secondary side, the spread between Italian and German ten-year bonds decreased slightly: 238 basis points (-0,5%), with a BTP rate of 1,87%.
The price lists of Frankfurt -0,08% and Paris -0,4%. Purchases prevail instead a Madrid +1,36% ea London +0,84%. On the British list it shines Vodafone, +8,7% after the quarterly and confirmation of the dividend. A performance that sparked appetite for telecoms stocks across Europe.
Wall Street it opened higher, but began to falter almost immediately, as Dr. Anthony Fauci, chief virologist on the White House task force, began speaking to the Senate Health Committee. “My message is clear and coherent – said Fauci – if the steps for a gradual reopening are skipped, those indicated in the guidelines developed by the health authorities, the consequences could be very serious. It's dangerous". However, Elon Mask managed to obtain the partial reopening of the plant in California and Tesla flies (+3,3%).
The Federal Reserve's $750 billion corporate debt purchase program also kicks off today. It is the first time that the US central bank has bought corporate bonds, as part of the measures launched by the Fed in March to limit the impact of the coronavirus pandemic on the economy.
Among the raw materials the Petroleum it is prompted by Saudi Arabia's decision to cut production further than announced. Brent gains 1% and moves around 29,90 dollars a barrel, while Wti rises by 5,4% to 25,44 dollars a barrel. The race starts again : +0,85%. $1712,40 an ounce.
On the currency market theeuro recovers against the dollar and trades at 1,0872.
In Piazza Affari the main title of the session is Telecom, +5,77%, which reflects the results of Vodafone.
Effervescent Prysmian, +4,49%, which ended the first quarter of 2020 with revenues of 2,59 billion euros, a decrease of 6,6% compared to the 2,77 billion euros recorded in the first three months of last year. A better figure than expected: the consensus of analysts, published on the company's website, in fact indicated a turnover of 2,5 billion euros. The company has decided to withdraw the guidance on 2020 announced on 5 March in the light of the uncertainties related to the Covid-19 and will proceed "promptly" to update the estimates on adjusted ebitda and cash flows when there is greater clarity on the development of the pandemic. Among the best titles there is still Finecobank, +5,11%, which yesterday has surprised with the good results.
It stands out among the utilities A2a +4,19%, after presenting quarterly earnings up 1%.
Sales penalize Buzzi -3,59%; Recordati -2%; Tenaris -1,77%; Saipem -1,78%. Down Classic Ferrari for sale, -1,02%, on the day of the farewell announcement official at the end of the season of the champion Sebastian Vettel to the stable.
The banks are opposed: profit-taking weighs on Mediobanca, -1,6%, while they are in green Ubi +1,36% and Understanding +0,81%. The press agencies report that the special Antitrust unit of the Guardia di Finanza went this morning to the offices of Intesa Sanpaolo, Ubi Banca and Mediobanca to acquire documentation on Intesa's Ops on Ubi. The papers are useful for the investigation in progress and should help evaluate the competitive profiles of the operation. Well nexi, +4,41%, in quarterly day. During the conference call, CEO Paolo Bertoluzzo said that the closing of the acquisition of Intesa Sanpaolo's acquiring activities is expected in July. The transaction provides for a long-term agreement between the two companies with Nexi becoming the exclusive partner of Intesa. The transfer of the Intesa business unit will take place with a contribution to a subsidiary of Nexi for a value of approximately 1 billion euro.
Outside the main basket there is a slide of Ima, -6,95%. The company suffered the impact of the consequences of the pandemic in the first quarter of the year and the management decided to suspend the assignment of the 2020 dividend, allocating the profit to reserves. The Bolognese packaging jewel specified that the dividend on 2019 profits will eventually be proposed when the current situation linked to Covid-19 will be overcome.
