Waiting for the moves of the Fed and the ECB, Piazza Affari is positive

Positive session for the European Stock Exchanges. Investors are waiting for US inflation data to be released tomorrow, then the Fed will comment. The positive trend in the US labor market, confirmed by last week’s data, reinforces expectations of an interest rate hike of 25 basis points at the US central bank meeting on 3 May. As far as the ECB is concerned, however, signals are awaited to understand what could happen with the next meeting in June.

At the TTF in Amsterdam, gas is more or less stable at 44 euros per megawatt hour. The price of oil rose, with Brent and Wti growing by more than 1%. In Milan, the Ftse Mib closes positive: it marks a rise of 1.15% to 27,525.51 points. The spread between BTPs and German Bunds is up, moving around 183 basis points. The yield on ten-year bonds also increased, around 4.14%.

Bankers are doing well on the main list of Piazza Affari. Intesa Sanpaolo sales (+0.81%). In the sessions of 3 and 4 April 2023, the institute purchased 23.55 million treasury shares, at the weighted average price of 2.3684 euros per share, for a total transaction value of 55.8 million euros.

Banco Bpm (+0.57%) and Unicredit (+0.67%) also grew. The latter, through its subsidiary UniCredit Bank, has entered into an agreement for the transfer of a portfolio, consisting of loans to German corporate and SME companies, to funds managed by LCM Partners, with a gross credit balance of approximately 240 million euro. Excellent results, then, for Stellantis (+3.09%) and Tenaris (+2.70%). On the other hand, Erg (-0.07%), Amplifon (-0.15%), Snam (-0.54%), Inwit (-0.72%), Terna (-0.93%) and Bper (-0.17%). With regards to the latter, Fitch has changed its rating outlook for the coming quarters from “Positive” to “Stable”. (in collaboration with Money.it)