The stock exchanges pass the test of US inflation, Milan + 2.8%. Oil restarts, spread down to 190

(Il Sole 24 Ore Radiocor) – Closing in sharp rise for European stock exchanges on the day of the expected given oninflation in the United States. At Piazza Affari the FTSE MIB gained ground supported in particular by the rally of Unicredit. Shopping session also in Frankfurt (DAX 30), Paris (CAC 40), Madrid (IBEX 35) and London (FT-SE 100). Generally speaking, investors in Europe rewarded above all the Auto, Commodity and Energy sectors. The indices, which had already started positively, hit a halt after the publication of US inflation data, which rose more than expected in April but below March levels, and then quickly returned to racing. In April, i prices consumption in the United States increased by 0.3% compared to the previous month, against expectations of + 0.2%, after + 1.2% in March. On an annual basis, the figure registered a + 8.3%, more than 8.1% of expectations, but below the 8.5% in March. The price of crude oil: the July delivery contract on Brent at the end of the session gains 4.4% at 106.97 dollars a barrel and the June one expires 4.89% at 104.64 dollars a barrel.

In Milan, the risk of Generali rekindles, UniCredit rally

All eyes remained on Milan stock throughout the session Mediobanca with the moves on General at the center of attention. The dossier on the table in Piazzetta Cuccia it would envisage the possibility of leaving Generali for Mediobanca in favor of an asset management transaction with three potential targets: Banca Milan, Banca Generali e Azimuth, with the titles in great turmoil. A plan that, according to The sun 24 hours, would restore peace between the shareholders after the battle that took place over the Lion of Trieste. Meanwhile, Mediobanca presented the quarterly with a net profit in the 9 months of 716 million, beyond expectations. In rally Unicredit which at the end of the day stands out on FTSE MIB after the announcement of the start of the buy back and with the whole financial sector in fibrillation. Well after the accounts Pirelli & C e Banca Pop Eralready on the eve of the best with a rally that even reached over 10 points, e Davide Campari. The utilities remain behind, at the end of the list Remember. Out of the main list, the shares have flown Salvatore Ferragamo after the better than expected accounts and the new plan.

FTSE Mib stock market trend

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Oil rebounds, gas prices fall

Attention is also high on the energy front, after Kiev’s tensions over Russian gas in Donbass, but European gas prices are down 3.8% to 95 euros per MWh. On the rise oil priceswhich bounce after the slide of the last two sessions, «thanks to the signals coming from China’s improvement of the epidemiological situation»Note the analysts of Mps Capital Services. In the meantime, the EIA, in its monthly report, reported that in the month of April about 4 million of offers went out on the market. The US institute also cut expectations on 2022 demand by 200,000 barrels per day.

Bond under pressure after US Cpi, yields rise

Bond yields rise again after the US inflation data: US 10-year rates rose above 3% but European bond yields also started to rise again, with those on 10-year BTP briefly exceeding the threshold of 3%.

If US inflation is specially monitored to understand how aggressive the Fed’s next moves will be, a rate hike in July seems increasingly certain for the ECB. Christine Lagarde in fact he said: “My expectation – he said – is that net purchases should end at the beginning of the third quarter” and the first rate hike, “will take place some time after the end of net asset purchases”, specifying that ” this could mean a period of a few weeks ».

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