the automotive sector – Corriere.it is growing in Milan
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Mixed opening for the European stock exchanges in the last session of the month. Milan’s Ftse Mib stands at -0.35%, the Paris Cac loses 0.01% at the start to 7,482.85 points, while the German Dax conquers 0.53% at 15,883.45 points. The London Ftse 100, on the other hand, is below parity, -0.06% to 7,825.40 points. Negative sign also for the Ibex of Madrid, which scores -0.23% at 9,294.56 points. On the other hand, the Smi of Zurich was positive, which at the opening of trades marks +0.31% to 11,396.60 points. (Here the trends in real time). The spread opens little moved at 190 basis points (189 on the eve) with the ten-year yield at 4.36% (from 4.35%). (Here the data on the spread)
Investor concerns
Investors’ attention is focused on GDP and inflation data in the main countries of the Old Continent. Above all, there is expectation for the data on GDP for the first quarter of the euro area, expected to rise by 0.2%, an improvement on the flat growth of the previous three months, and by 1.4% per annum. Data that will be evaluated by the ECB for the next decisions on monetary policy.
Business Square
As far as stocks are concerned, in a Ftse Mib in which there are no major movements in one direction or the other, Cnh Industrial stands out (+1.68%) and the auto sector is doing quite well with Pirelli +0.78%. Ferrari +0.6% and Stellantis +0.56%, after signing an agreement with Alliance Nickel for the supply of nickel sulphate and cobalt for batteries (moreover, the car group will acquire a share in the Australian company). Try the St rebound (+0.8%), after the crash on the eve, and watch out for Eni (+0.24%) after the quarterly report and the agreement for the acquisition by Versalis of the remaining 64% of the package Novamont share held by Mater-Bi. Tenaris is still in the queue (-1.14%), after the slide on the eve, and the banks (Banco Bpm -2.3%, Intesa Sanpaolo -1.6% and Bper -1.43%).
The euro
On the currency side, the euro remains above the threshold of 1.1 against the dollar and changes hands at 1.101 (from 1.103 at yesterday’s close). The single currency is also worth 149.215 yen (from 147.67). The dollar/yen cross is at 135.67. Oil is up: June WTI futures are up by 0.33% to 75.01 dollars a barrel, those for Brent with the same maturity by 0.42% to 78.56 dollars. In the end, declining gas prices traded in Amsterdam: June futures, after having scored a first position at 39.025 euros per megawatt hour, fell by 1% to 38.8 euros.
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